All Forum Posts by: Jim Williamson

my first visit to BP.  Just sold a small business and excited to get into real estate investing.  I've been in the fast food restaurant business, which is very tough, so I'm not going into this with rose colored glasses. My two son in laws (20 somethings) gave me the bigger pockets investing in real estate book for my birthday in November, which I read immediately and am rereading now.  The business that I sold is set to close in the next couple of weeks.  Got a question, should I take about 200k and pay cash for property or properties, or use it as a down payment and go big with financing.  Any guidance here appreciated.  Hang in there Latimer.

Investment Info:

commercial investment investment.

Purchase price: $315,000
Sale price: $589,000

bought and held commercial property for 14 years

What made you interested in investing in this type of deal?

rented restaurant building that I was operating for 10 years. Then had the opportunity to buy the building. After much searching, was able to buy the building with zero money down. This was in 2004, I imagine it would be harder to do so today. Selling the building, haven't actually closed on it yet, and am looking to invest the gains in small multi-unit residences, and or possibly storage units in the area that we plan to retire to, which is grand lake oklahoma

How did you finance this deal?

traditional bank lending, no money down.