Church For Sale Cheap - Need Ideas for Income!

[Tony T.]

There is a SPECTACULAR, massive Gothic style church for sale at an amazing discount and:

* I can probably get it for $100,000 (cash);

* It's in the city (semi inner-city) in Harrisburg PA with no parking except on-street;

* I need about $600/month profit to be happy with my investment;

* It's 16,000 square ft.;

I can't think of any great ideas to make a steady income except hope that a small church organization rents it, and I wouldn't purchase it hoping that would happen. Also weddings and such are not going to work here because there is no parking except on street and it's in the city. Converting to apartments would be cost prohibitive and apartments in this area wouldn't attract the tenants I'd want to work with.

So I'm looking for new ideas ...any ideas are welcome! Thank you.

[Joshua D.]

@Tony T.

Well for the record I just wanna say I think it would be a poor investment for a handful of reasons.

1. Be hard to sell (unless it's rolling in income for some reason) even then it might be tough

2. It's not in an area you want to be

3. Property Taxes could be a nightmare when it comes out of non-profit status

4. No parking.

5. Rehabbing an old building like that to change use would cost twice what you paid for it.

6. Zoning might be very restrictive...

However... That's no fun looking at the logical side of things. In the heart of every entrepreneur is that thing looking for what that building could be. So here are my ideas.

1. Indoor storage... Add some walls and doors? Don't need much parking.

2. Rent to a historical society... For a musium

3. Make it one giant vacation rental... (My friend did this with a small church and it turned out awesome)

4. Split building into 4 different office spaces.

This is fun to think about!

Good luck (and don't buy it)