Next Level investing part 4 Commercial RE Investing

So it has been over one month now and I have not gotten any offers on this warehouse.  At my last posting, the plan to sell the warehouse moved up into plan A.   If we do get an offer and sell the warehouse, then It would be likely that I would purchase a larger apartment building.  20-28 units as opposed to 12-20.  

Since we have not gotten anything other than parties who want to take a look. I have emailed my Mortgage broker to find out if an empty warehouse would enable us to obtain MORE equity take out or much less.  I also asked what the penalty is if we obtain a mortgage, do a take out of say 600k then pay it off completely 2-3 months later if/when the warehouse sells. 

So my next steps are to incorporate a new operating company, and have a lawyer that specializes in RE Joint venture partnerships to draw up a new JV agreement.  I will ask him to send me a standard JV agreement and I will modify it to suit my situation.

I want to cover Plan B and make sure I am ready to roll with funding and pitch to JV partners whether the warehouse sells or not.

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On a side note, I have completed 44 weeks of this phase of my 20 year long plan. I will be doing another Arbitration /Eviction (in B.C.)  This is great experience if I ever want to purchase property in this province.   The knowledge may come in handy way in the future, but for now, my plan is to invest in Alberta where the Real Estate laws do not favor the tenants so strongly.