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Updated almost 9 years ago,
Should I pull the trigger? So many questions!
I've been reading a TON and asking lots of questions from people who've been in home repair circles. One gentleman heard my story about beginning in property investing and passed my name to a potential deal-of-a-lifetime, but I still feel so GREEN that I'm doubting myself.
So here's the nuts and bolts:
A commercial property with 3 small store fronts on the main level, and apartments above.
Left Storefront: $350
Middle Storefront: currently used as owner storage
Right Storefront: Currently occupied as a Post Office Contract unit that pays a percentage of sales. Averages between $1500 and $2000 profit
2 bed apartment upstairs: $525
Studio apartment upstairs: $300
Water, Sewage, and trash are paid by the owner.
Total asking price (off market) is $100,000
Now, without the Post Office, this isn't a very attractive deal. It falls under the 2% Rule, BUT adding in the Post Office sales makes this a SWEET deal. Roughly 3% but I'd have to manage (or hire out mgmt of) the Postal business. And I'd still have a small storefront open to rent out or use as I see fit.
Thoughts?