It’s been awhile since I have posted. For all who have been looking for this next article, I apologize for its lateness. Between purchasing and rehabbing the building, advertising for tenants and my other businesses, I kept pushing off my posts thinking “I’ll get to it tomorrow!” Well, after a couple of months of...
So in my last post in this series I placed the “best and final” on my target office building and and guess what happened? I LOST! Okay, you may be thinking, you were asking for it since you didn’t raise your price. But, I stuck to my guns because that’s what I felt the...
Based on the factors we discussed so far with my target property, I decided that it was worth pursuing. I liked the location, the layout and the potential income from the multiple office units, so I decided to make an offer. The next thing that I did was to contact the township and ask...
So, at this point in the story, my quest for real information begins. What could I pay; what’s involved in a commercial property contract for sale; how do I finance it; and what’s the process to occupy the building? The first thing I did was a little income and expense calculation. For income, I...
Phase I test, Planning Board, zoning district, conforming use, variance, site plan, 200 ft notification, engineering… This story really begins with a barrage of terms that I never had to deal with when buying residential rental properties. Until one day, when the following occurred to me: Even though I own rental properties, I am...
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