All Forum Posts by: Keith Olson

Hi, I have a martial arts business with my family in Tennessee. We purchased a piece of commercial property last year. It is in a great location and we had plans of putting our own business on the lot in the future. 

However, I would like to explore options for turning it into a cash flow property. It is about 1.5 acres and we need a 10,000sq. ft. building for our personal business. So, if we put our business on the property it would take up most of the space. The land is undeveloped at the moment. 

We are just getting started in rental properties and are very new to investing in properties and real estate. I am looking for ideas and advice for increasing cash flow and using this piece of property to its fullest potential.

thank you in advance.

Keith

@Kevin Paulk thank you for the feednack. I will do that!

@Dan M Thank you for the feedback. It will cost 6000-8000. I believe it will definitely help raise the value of the property. It is an older neighborhood and many units do not have central heat and air. Tenants will pay utilities. 

We are about to close on our first rental property. My questions is do I install central heat and air? The property has window units and I was wondering if we should invest in central heat and air right away. we plan on doing a small renovation of the house and refinancing in about a year. Will installing central heat and air help us to receive more in rent and recoup the money in the refinance. 

The house cost 80,000

have a 15 year mortgage at $585

rent will be 1100/month and cash flow 200 month (without central heat and air)

Thank you in advance for your feedback

Thank you so much for the feedback! definitely going to have it in writing.

I am a new investor (working on my first deal) and I have a partner with more skills and connections for completing the rehab of properties. I will be funding 100% of the deal and doing minor rehab work. We are good friends and see a future in being partners with flips and long term rentals. I am looking for the safest and smartest way to structure our partnership. 

Thank you in advance! The entire Bigger Pockets community has been amazing and inspiring.