100 yr old warehouse becomes metalshop and loft

[Douglas Cernonok]

Investment Info:

Other buy & hold investment.

Purchase price: $300,000
Cash invested: $100,000

SPECIAL NOTE - this is mixed use property that means it's zoned for both commercial and residential. It's presently rented on a commercial multi-year lease.

What made you interested in investing in this type of deal?

college ed + location - central core of the city of atlanta

How did you find this deal and how did you negotiate it?

saw the for sale sign on the building. made several offers.

How did you finance this deal?

cosigner on a conventional 30 yr. mortgage

How did you add value to the deal?

sweat equity

What was the outcome?

positive cash flow

Lessons learned? Challenges?

maybe you can do the work yourself - great! remember, typically time is not on your side.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

no. back then i felt like everyone was working against me.