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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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Warehouse in a black town? Buerste?
On Mon, 13 Sep 2010 08:11:44 -0500, Ignoramus20659
wrote: But in any case, while I am considering making a low bid, I want to make sure that it does not become an expensive educational project in how not to invest in real estate. Any thoughts on this situation? i Iggy:- From all of what's been said, personally, I don't think there is too much downside on this deal if you get in closer to the starting price than the asking and can easily afford to carry it for a few years without tenants. Most likely you will have decent income and a nice capital gain, and will to some extent protect yourself against a further decline in the value of the dollar as the economy improves. The neighborhood looks decent working class-- trimmed lawns, cars in decent shape etc. The size and condition look good to me too. One factor if you've not been involved with commercial/industrial real estate is that any kinds of repairs etc. seem to cost several times as much as what residential work costs. It's not hard to drop $5K (or $10K or $20K), even on a small building if there's a heating unit failure and/or the parking lot or roof needs work. This can work in your favor if competing properties that are on the market for tenants are not in as good shape. Good luck, and please let us know what happens! P.S. I notice the demographics show a rather large surplus of females compared to males (100:87). Is this typical in that sort of place? |
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