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Updated over 2 years ago,

User Stats

16
Posts
6
Votes
Matt Scinto
6
Votes |
16
Posts

Looking at my first deal

Matt Scinto
Posted

So me and a friend of mine are looking at a mixed use property. One piece is a detail bay for auto work (currently used by owner, willing to stay and work out a deal or I have a friend that wants to rent it for 800 a month possibly more) there's a tavern and bar on the first floor next door and there's a bourbon speakeasy in the basement. All equipment, tables, chairs, would all stay there. You could literally open it tomorrow. And there's a 1000 Sq ft loft apartment up top rented at 500 to a long term Tennant and he was told by the realtor that there's a good chance rents could go up 100-150 dollars and the current tenant understands and is ok with that. I have extensive restaraunt experience and business management experience plus a few friends that have ran bars and restaraunts, brought up revenue and the number of customers each night at multiple restaraunts. My question is does it sound like too much? I would be able to be fairly hands off of everything but it seems like it would be worth it for the price especially since the owner is offering seller financing.

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