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Updated over 17 years ago,
newbie needs advice from you guys!
hello guys,
i'm a complete newbie...my father owns a 20,000 sq ft land (we only use 3800 sq ft for a small convenience store & lawn mower shop)....a lot of real estate brokers have come to us to say we should build something in our empty lot because it's just sitting there empty not being USED...
so i went to the chamber of commerce, went to the city and talked to couple of designers & surveyors...
the problem is I have NO REAL IDEA what i'm doing..what i would want is to USE the land MOST EFFECTIVELY as possible (build a 2 story commercial property to lease out to several commercial or office workers)....
what is your advice on DEVELOPING something that will PROFIT? what i'm afraid is that...this development would cost a LOT of money (which we can borrow money) but HOW CAN WE pay MONTHLY for the loan if there is NO CASHFLOW from the beginning (since we are building a new building from the beginning)....
any advice on BUILDING & DEVELOPING & finding great surveyors and architects?
BJ