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Updated over 6 years ago,
How Hard is it to Dive Into Commercial Real Estate
Hello. My husband and I have been investing in real estate for a little while now. We flipped our first property and are now at the tail end of a rehab that will be a rental. He recently found a great commercial building (4 apartments and 1 store front) for under $250K. The best part about it is that the owner is accepting seller financing. It's certainly something that I'm excited about taking on but he's starting to get cold feet and doesn't think our first multi-family unit should be a commercial property. He says he doesn't want to deal with attornies and the insurance, etc.
Can people please give me your feelings on this? Is it really difficult/expensive to deal with commercial properties? Do you think it's something we should hold off on? Or should we go for it? Does anyone have any advice on next steps (actually first steps)...etc.
Any information and knowledge you can share with me will be greatly appreciated.
Thank you,
Lavada