I bought 2 small commercial properties next to each other so the buildings actually connect to each other. I bought them for $750k, I put $200k down and invested about $200k in renovations. Its a seller finance deal and my monthly mortgage is about 7k due to covid i closed down the business so it's an empty building right now. I had a food truck outside and inside people will play board games so it was like a board game cafe with a retail shop, we did sip and paint nights, plaster painting for the families etc. However all of that stopped in March. We sold everything we could and I want to sell this building asap but given the situation I don't know who would be adventurous enough to start a business now. I also thought about finding 5-6 people who are willing to come up with $100-$200 per person to pay the original seller the balance left on the mortgage and then figure out what to do? I have not idea like seriously the building hasn't generate money to pay the mortgage so i am coming out of pocket to cover it and I don't want to continue to do that any longer. Any ideas would be greatly appreciated.
