Ignoramus20659 wrote:
Just a little reality check (and yes, I feel stupid for asking).

The seller answered my question for his "insurance costs". He told me
that it is insured with some other properties, but his best guess is
7-10k.

I do not want yet to ask him back, does this sound like a per month
amount on a 19k square feet building?

If so, it is pretty steep to carry that while looking for renters, and
a big hurdle?

Anyone with some experience, does this sound like per month or per
year.

If it is per month I will pass.

My 3,400 sq ft above ground house is insured for $1,200 per year.
(and it is not in Dalton and it is occupied). If I multiplied that
amount by 19000/3400 I would get 6,705 per year. So I think that 7 to
10k is per year. I could live with that.

I know that this sounds really dumb for a question, but I would rather
look dumb than plop money towards something that wil cost me a fortune
in insurance.

i


The taxes seem very high for a 300k building. 31,000 a year is over
10 percent which doesn't seem right. Also I insure a 35k sq. ft
building including all risks as a business for about 8 k per annum.
Let that building sit idle while you own it will cost you a fortune.
See how many vacant buildings there are in the area. Unless you have a
prospective tennant with an ironclad lease and a big bankroll I would
be very cautious about buying this building.

The best income properties are slum properties with section 8 tenants.

JOhn