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Updated over 8 years ago,

User Stats

19
Posts
3
Votes
Rick Edgeworth
  • Investor
  • Lumberton, TX
3
Votes |
19
Posts

Is it a buy at 180k

Rick Edgeworth
  • Investor
  • Lumberton, TX
Posted
.66 acres in growing community. Busy hwy frontage. 4 commercial rental location on the site. Currently all rented out though 2 will soon be empty. 1 of them I will use for my wife's business and the other will need to be rented. Biggest issue is that 2 of the buildings have history of flooding. It's a drainage issue and when it "floods" it get a couple inches in some spots and quickly goes out. With that it has never had an issue staying rented. Equal raw land in area is selling for 75-100k just for the land. I'm thinking I keep them rented and one day possibly tear down the flood buildings and build up a new building. All rent for $900 per month and they cover all utilities. Taxes 3800 a year. Insurance 4500 and flood 6500 if I get it. Commercial is new to me!! They are asking 180k which I think thEy will take less....wondering how low should I offer, how to present with showing them why I think so low....PLEASE ADVISE!!!!

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