All Forum Posts by: Mark Betche

I just read in a book that you can depreciate your investment property. Does anyone know the formula for doing this?

What percentage, under the estimated value of the home, does the mortgage need to be to do these deals?

I hope this doesn't sound stupid, but what is your appr. cash flow on this type deal?

I'm new to this also, but no matter how you do in any business, managing your money with a budget and controlling your consumption habits is most important, when trying to obtain financial freedom. It will also free up money for your investment puposes.

Along with learning about REI, you should read some books on personal finance to help you with the money end of your ventures.

I will be getting my feet wet, in the near future, due to buying a building for my business and leasing part of it. I'm 45 and want to spend the next 5 years building up cash and learing everything I can before I turn 50.

I will hopefully attempt, by then, to convert my occupation to REI. I'm a regular on finance forums and have learned alot on personal finance. It's my hope to do the same on this real estate forum.

I currently rent about 4000 sf of shop space in a building my uncle owns. He is currently using appr. 8000 sf (4000 shop and 4000 wharehouse) and is looking to sell the building. This building is like 3 buildings in one, all the same size. His 4000 shop space has a second floor (currently unusable).

The building is in an lower income-business district type setting and has on two occations in the last 25 years had minor flooding. The city has a buyout of the area, in it's future planning.

The county accesses the property at 145,000 and my uncle has offered it to me at 120,000 and will owner finance. I can afford the payment, but at the same time, I should be able to lease his 8000 at a decent rent.

The property has not been appraised and will cost appr. 1500 to do so. The taxes are 1300 per year and the ins. about 900. I wish to put 5,000 down and finance 95,000 with an 20,000 balloon later contingent on sale of property in the fututre. The contingency would also be contingent apon the building selling for more than 145,000. An agent valued the building at appr. 180,000.

Any suggestions would be appreciated.

I've become interested because i'm in the process of buying a building for my business. I bought the book Commercial Real Estate Investing for Dummies to get an idea of what to expect.

I'm in the process of building up cash and have began to read other books, mostly on personal finance, but am now starting to read books on real estate. I read Rich Dad Poor Dad also and it helped my interest.