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Thanks guys. I'm just scratching the surface and kicking around some ideas. There are a few buildings on busy main roads that are pretty cheap compared to what they were a few years back. Probably due to economic times. My main plan would be to re-sell it in a few years after the market turns around. But in the mean time possibly I would try to lease it out or put or maybe try my hand in a small retail shop or a service business of some sort. I suppose if a business went well I probably would sell the building. Lots of different ideas but no definite plan yet.
FWIW I talked to 5/3 on Friday and the lady said for comm prop it would have to be a SBA loan.
Must have:
Business plan w/ 3yrs of expenses/income
Proof of income from current job.
Resume
Application
20% down
She said she had to look into my question about being able to buy a comm property personally.
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Bill
997.2
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