(Seeming to be) Failed First Commercial Deal

[Andrew Jolly]

Hi all,

I am 23 and I closed on my first piece of property that I have owned. It is 2 pole barn style buildings, each 30x40, one with concrete and heat, and the other with a rock floor (Cold Storage). I bought them originally planning to use them for personal reasons, but recently moved from home to Asheville, NC. 

I have tried renting them out for about two months now, and have had people interested, but have not gotten anyone to finish the application process. I'm charging a $25 application fee that is refundable if they are chosen as the tenant. My break even numbers is around 580 a month, and I finally got someone to rent the cold storage, but only for 6 months out of the year; which comes out to about $90 a month over the year.  The heated shop is still sitting vacant. 

I understand I probably picked too much of a niche property, and being in a low population area probably doesn't help.  But this one deal has put a bad taste in my mouth, and has not helped with getting my girlfriend on the real estate train. 

Do you guys have any ideas on ways I can turn a profit on the property? or even just some words of encouragement to get me through? Its fairly easy to manage this property from afar, my biggest problem is just finding a qualified tenant.