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Updated about 17 years ago,
advice on investors
I am not a real estate investor - what I want to do is open a bookstore/cafe and bar. I found the perfect building, but the banks are not into loaning me money for the store AND building.
My question is this - would it be possible for me to find an investor to buy it, then rent-to-own it to me over the long haul? Would the investor make enough money to consider the deal a good one? Would I lose money?
The asking price is $550,000, appraised at over $800,000, what does this mean? The building has been on the market for 8 months. I'm not sure what else would be considered important, so just ask me if you need more info to asnwer my question.
Thanks!
Nikki