All Forum Posts by: Joshua Holt

Purchase price is $300,000. Seller is willing to finance with 30% down. Space is zoned commercial and currently set up as single office but in need of work. I'd like to put up walls and turn it into 5 single offices for professionals in the area.

I'm not too concerned about the business plan. I've run the numbers and feel comfortable. Putting $90K down is also not a problem.

I've never bought commercial property before and, as a lawyer, I'm mainly concerned about missing something I'm not thinking about. Given that the seller is willing to finance (which I think is good), I'm also aware that without a third-party bank lender I won't have them watching over my shoulder making the normal checks.

Is the best course of action to hire a local real estate lawyer with experience in commercial property to make sure I don't miss anything big?

I don't have much to contribute Adam but I logged onto the forum this evening because I'm considering a similar purchase. I'll be following this thread!