All Forum Posts by: David Switzer

Hey all!

I am interesting in a small (brand new) commercial condo, and when I entered for a viewing the floor had been slightly raised up (I think because of the basement) and there was a long ramp up the side of the room.  I asked why they did that and they said it was for the ADA compliance. (there was a tiny set of stairs also)

The developer told me there was also an alleyway down the side of the building that could most likely fit a wheelchair and had direct access to the condo, so it's possible that would satisfy the ADA and they could remove the ramp on the inside of the unit.

I have never dealt with a property like this before, so I'm wondering, who do I talk to to make sure this unit will be ADA compliant?

 

Yeah I actually searched for credit unions that do commercial retail loans in the area and contacted a few with no one contacting me back!

I'd be putting down 20% at least

Hey all!

I have been looking at many of the various loan aggregator websites for the last couple weeks, and have done the applications and such, but everyone seems to refer me to someone else and they all keep asking for the same information. 

I am looking to buy a retail location in eastern Michigan, and here's the basic situation:

Asking Price (to be negotiated):  $685,000
Sq Ft:  About 4400
Space:  Retail, within a mall
No Current Tenants, but it will not be hard to fill.  

My personal income:  $180,000/year
My liabilities (Personal Home mortgage, other bills, etc):  Around $5000/month
I currently own one commercial condo that's retail, so I have experience.

I am looking for a lender who will give me a loan to buy the space.  I'm flexible on down payment and terms.  I thought this would be easy, but the banks I am used to working with don't lend on commercial retail, apparently.


Thanks,

David

 

Hey thanks so much for the great insight Chris!

Hey all!

New to the forum and happy to be here!  I currently own a commercial condo, and when I purchased it there was already a tenant in place with a long term lease.

I am looking at a new commercial space that is built for retail, however it does not have a tenant.  My agent has told me she has received a lot of rental interest, but I can't really be sure.

Can I make an offer contingent upon finding a tenant to lease the space within X amount of time?  Is this ever done?


Thanks so much,

David