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Updated about 8 years ago,
Commercial Property as a first investment-yes/no
Hi!
My name is Jozo and I am big fan of Bigger Pockets. Actually after watching only one video on Youtube I decided to start investing in Real Estates. And here I am after only few weeks I found one deal which is tempting but on the other hand is not house but commercial building. I would be very thankeful if somebody would be that kind to give me few tips about which facts I should take in consideration before buying it. I leave in Canada and this property in in the village of Conquest which is 1h from Saskatoon (city where I currently live). It is 15 min outside small town of Outlook. Interesting thing about this property is that is $55 000 which is amount that I could probably afford to pay for my first investment. Second good thing is that it is leased to Canada Post until 2023 and owner told me they are planning to extend for nest 6 to 10 years. Monthly rent is $784 monthly. Please if someone can help me with few yeses or noes to buy this property.
Thank you in advance!
Jozo