business and rental in one

business and rental in one

Member since 2021 · 17 posts · 27 votes

There is currently a deal available that seems pretty decent, still have to look at it, but have a few questions.

The property is zoned both commercial and residential. There is a store front with two spaces streetfront property. In the rear of the property is an attached home, that could be used as a rental and is zoned just so.

The idea was to run a business out of one of the store front locations, and rent the other out as well as the residential property. Now I am not really sure how a lender would structure this, but that can be discussed with said lender.

My question pertains to legal entity. As far as running a business, would an LLC be enough to cover the whole property, or would it make more sense to structure it in a way that was separate from the residential.

This question is just off the top of my head as I just came across the lead, and am going to look into it more. any ideas would be appreciated. Have a great morning!

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  • Investor · Ontario · Member since 2015 · 486 posts · 250 votes
    5y

    @Blake Dennis I know a lender than loans on these commercial deals. This particular lender will allow you to purchase mixed use properties like this inside an LLC.

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