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Updated over 6 years ago,
Newbie with unique situation
Hello everyone! First time posting!
I’ve been wanting to get into investing for a long time now so I finally pulled the trigger. Not with buying a property but I shut down my auto repair business and made the decision to go full steam ahead towards my dream of investing.
My situation is unique. I inherited the family business when my father passed a few years ago. It’s an auto repair shop located in Ferguson, MO. My initial thought was to sell the property and be done with it, however, lately I’ve been thinking this could be my first rental property. I’m thinking that I can get at the very least $100k for the property. On the other hand if I could lease the place for $2k-$2.5k a month with a triple net...that would be a fantastic source of passive income. Honestly not sure if that is even the correct valuation...not sure how to do that. Would love to hear anyone’s opinion that hasn’t stopped reading yet lol.
Thanks in advance!
Nate