All Forum Posts by: Andrew Rickli

Hey Ryan, from WV as well. Good luck.

John I agree. We talked about that or a wedding venue. Maybe a bar/pub. Certainly a great haunted house! Haha

I am looking to do my first live in flip for a year. I'm a commercial banker now so usually only handle commercial transactions over $5M. I'd like to get in a house at 5% down (conventional) and flip a house in a year. If I like it and all goes well, then I can do multiple per year. My fiancé's father and stepfather are both contractors who are willing to help pro bono! Let me know, Thanks!

Nicely done. Similar situation I have now. I would like your help on this one. 20,000 sq. ft. Used to be an old factory. Asking $327k, hasn't sold in almost 2 years. Realtor said they are considering lowering the price as it is in the man's estate.

@Bill Kenny we should talk. I am just getting into it, from the area. Finance grad from WVU, now a commercial banker.

Hi all, 

Just joined BP, but I have been a frequent reader on the site. I am a commercial banker, and recently decided to jump into the investing side myself. I wanted to run somethings by some folks on here to see your opinions.

I had an individual approach me about a commercial property in a small town about an hour outside of DC and Baltimore. It was built in 1912, and its nearly 20,000 sq ft. It used to be an old garment factory, turned antique factory, now it has been vacant for two years. 

The current owner passed away two years ago and the property has been held in his LLC (estate) ever since then. The asking price is approx $325k, with an assessed value close to $375k. I met with the listing agent today on it and she mentioned that the owners (the man's children) are interested in lowering the price soon to get it sold and out of the estate. It's around $15/sq ft now.

I have come to fall in love with the building due to its historical value, its character, but most importantly, the potential. Potential from microbrewery, to a wedding venue, piano bar, even a top of the line haunted house. I wanted to get everyone's opinions on the property, what I should look for as a buyer and ideas that some may have for the building. 

Check out the pics of the building, and I've also attached some ideas I have found that interest me near the bottom.

Thank you to all!

Subject property:

Ideas to consider (wedding venue pics and a restaurant pic):

Hi all, 

New to the forum, but read a lot. I am a commercial banker in the DC/Baltimore metro area (1 hour outside). I am looking to get into commercial real estate investing, and after analyzing numerous deals, running cash flows, proformas, and seeing how banks prefer to structure deals, I think I am ready to dive in. 

I look forward to meeting, talking to, and working with some of you!