Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 9 months ago on . Most recent reply

User Stats

2
Posts
0
Votes
Ali S.
  • Investor
0
Votes |
2
Posts

Small Mixed Use Building Next Steps

Ali S.
  • Investor
Posted

Hi All, Looking for a little advice here in terms of next steps and strategy. I've identified a small mixed use building I'd like to purchase. It is three apartments, a store front, and two shops/studios. I have put together budgets and started a business plan. The apartments will require about $40k to bring all three up to rentable condition. One is currently rented. I have an option to take over owner carried financing of the building  that the previous owner has set up with the owner before them. But there would still be about $200k for me to come up with. I can put some money down, but I want to stay under $50k at absolute most and prefer to put down as little as possible. I have good personal credit (~730-740), average-high personal debt (mortgage, student loans, vehicles,) and I am employed making $90k/year. I am looking for help identifying the best path forward in general and next steps. I have rehabbed three residences and flipped them as house hacks, but never purchased a building like this one that as purely an investment, so would love help on strategy and specifics. 

Loading replies...