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Updated over 9 years ago,
Commercial location with apartment above business office- good idea for newbie?
Found a property in my home town for sale that i am interested in. It is on the square (downtown area in town of 3000) and has a business opportunity on the main level and an upstairs apartment. Both would need several thousand dollars in rehab.
After running some numbers i believe it would be a good investment but was wondering if anyone has any advice for me. Someone who has done something like this already.
Retail price is 35,000. Roughly another 25 thousand for rehab. But between the 2 would bring in between 1000-1200 per month. Is this something i should try and tackle or leave it for an experienced investor.