First commercial property leased!

[Mark Fries]

Finally got my first commercial property leased! 4500 sq ft warehouse with offices and 1/2 acre outside storage in Jacksonville FL. Found it aging on Loopnet in March 2018...threw out an offer for 72k with owner financing. GOT IT! 72k owner financed 10k down 3.0% interest 15 year note, like $313 a month Insurance $1200 a year Total invested $15,500. Cleaned up exterior grounds, did exterior paint and re-blacked the parking area for curb appeal. Hauled off some trash. Signed a triple net 2 year lease yesterday for $2,000 a month with $1,000 deposit. I gave them a break on deposit because they took it as-is. It's a company that dismantles newer, damaged cars and resells the parts on ebay and other online platforms. I did not use an agent, I made signs with my number and attached them to the building. Took a long time to lease but worth the wait. Off to the next one!!

[Mark Fries]

@John Woodrich No..probably should have... It's a risk I'm willing to take plus I was just so excited to get it leased out to be honest. Hopefully I can crush for a little while before the EPA comes busting down the door!!