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Updated over 6 years ago, 09/19/2018

User Stats

1
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0
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Abdul Mohammed
0
Votes |
1
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Suggestion for a new investor

Abdul Mohammed
Posted

Dear friends

reside in OH and i live on H1B status (work visa). I am planning to invest in NNN commercial properties anywhere in USA. The reason for NNN is I don't want to spend anything for maintenance/taxes or any sort of expenses. I also don't want to spend time looking for lease holders every now and then. When I search there are some commercial NNN properties which are around or over $1MM with corporate guaranteed leases for atleast 10 years and goes up to 20 years (like Fast food Restaurant chains, Banks, medical offices etc). I also searched for lowest ranges around 300 to 500K and sometimes this ranges also available with around 5 to 10% CAP rate.

Since I am on H1B, I am planning to take any of the NNN property between 300K to 500K and pay around 50% down payment and rest on mortgage. I think in this way atleast within 5 to 10 years I can pay off mortgage and will end up with full property value and rentals on monthly basis (even if I don't want to earn anything till 5 years I am fine with it)

- Is this a good idea to invest in commercial property like this with big downpayment? Even though it says NNN properties what should I need to be cautious in terms of hidden things show up later on? I literally don't want to spend time/money on property (since it is NNN) and continue to focus on current job.

- If for any reason, my visa doesn't get approved or have to go back to home country (india), will it be too difficult to sell the property being commercial?

Any suggestions are welcome

Thanks

Mohammed