All Forum Posts by: Jim Salvatore

Hello! I own a small wheel repair business and I’m needing more space. I currently rent a 2500 sqft shop for $800 and rent my home for $1500. We found the perfect property that has a 4800 sqft shop zoned commercial with a house behind it zoned residential. The house has an in-law that we’ll be able to rent out for $1200/month. I’ll be able to rent a portion of the shop out for $1500/month. We already have tenants lined up for both. This is currently an off market deal and the seller is looking to get around $1,000,000. The problem I’m running into is financing and not being able to put down 20%. Any suggestions would be appreciated!

@Andrew Postell thank you!

Hello! I own a small wheel repair business and I’m needing more space. I currently rent a 2500 sqft shop for $800 and rent my home for $1500. We found the perfect property that has a 4800 sqft shop zoned commercial with a house behind it zoned residential. The house has an in-law that we’ll be able to rent out for $1200/month. I’ll be able to rent a portion of the shop out for $1500/month. We already have tenants lined up for both. This is currently an off market deal and the seller is looking to get around $1,000,000. The problem I’m running into is financing and not being able to put down 20%. Any suggestions would be appreciated!

@Eric Sanne you could also put yourself on payroll. Then you will be a W2 employee.