All Forum Posts by: Richard McCloskey

Hi Ash,

Thanks for this insight, I kept thinking about that opportunity as a 2 tenant problem, but didn't realize it could be 1 tenant interested in the residential apartment and the commercial front!

I am encouraged, thanks for your help-

Richard

It sounds like your plan is to operate a business for 2 years and use the income for the downpayment to buy the property.  Is that the case?

If so, someone I met before was going to buy apartment through "lease to own".  He was operating the apartments (think it was 7 of them) by working with the owner to lease the land and use it as a business. 

I guess this only worked because the owner didn't want to manage themselves.

Makes me wonder if you can lease the property you want on good terms by "promising to buy"  worth exploring but sorry, I don't know more.

A commercially zoned section of town here in Bucks County PA has a mixed use property for sale, and I am interested.  

It's residential upstairs (1 apartment), and the downstairs is zoned commercial.  The issue is the structure is very much a "house" with siding and shutters and I keep thinking it looks too "cute" to be a property that means "BUSINESS !" you know? 

There is no commercial tenant now, but there used to be a law office.  Short of recruiting Mrs. Clause and letting her bake cookies in the property, I was wondering if any of you experienced folks have interesting ideas to attract commercial tenants?

The condition of the 1st floor (commercial) part of the property does not have a kitchen, just a half bathroom. 

I have thought that an office  would be good, and maybe a day care for children to name a few that came to mind.

Are there other opportunities that can actually work on a commercial property that just doesn't look the part.  It seems like it might be harder to find tenants to me.

Planning to acquire my rental property that seems to only need minor renovations to the tune of 20k and have that feeling others have talked about that something isn't quite right. A neighbor told me and the realtor when we visited that someone walked out of the house in the morning and might be squatting there. So I came back at night and see phone or computer light brightly illuminating one part of the house. 

Realtor is also Listing agent and denied the occupancy at the time but looked like he was fibbing to me. 

Supposedly being sold "as is" and gas electric and water aren't even on, so no one should be occupying.  

So I am hesitating because my feeling is the seller is hiding a lot of problems. I have the prediction that if I go to contract and structural inspection those utilities won't all be turned on and it will just keep getting worse after that. 

Thinking of just dropping the idea of an offer but wondering what can be done to move forward and minimize risk ?