Hi Moh, I think what everyone is saying is what a lender would asked, how do plan to used the building, rent it out, run your own business out of it, what size is the building, what condition is the building, do have experience in the type of business the building will be use for, will seller carry, and do you have a business plan?

Maybe you can find a seller to carry the note on a duplex.  

very nice I really like the bedroom wall picturesAny numbers : purchase prices, renovations, carrying cost, loan fees, property taxes, and etc 

Best of luck to everyone here and looking forward to a new adventure:)Carrie

@Carrie Giordano,Thanks! 

(What I'd probably do is calculate carrying costs over that time period and lower my offer by that amount).I'm a newbie too getting ready to purchase my 2nd revenue producing property in my first year. 

What are your carrying costs while the property is being renovated? 

Land investing is generally a smaller part of the portfolio.The reason is you are not depreciating the land for taxes and have intensive carrying costs ( money going out but nothing going in ) until you sell off the site or develop it yourself.A commercial piece of land could sell in 1 year or 10 years.

;-)Nice write-up, Engelo, though I never fancied you as the shy type.haha Roy,Walkabout Creek lolPublic speaking was a ear that I carried for quite a while.I still freak out a bit before I speak in public lollolThanks and have a great day.

I could of finished this a lot sooner and got a lot more rent and cut down on carrying cost to increase my ROI.