Los Angeles, CA · Member since 2016 · 5 posts · 0 votes
Hello BP Community!
My sister and I are looking at potentially buying a small local neighborhood market, which has a 2BR apartment above it. I purchased my first investment property (single family home) a year ago, and it's going well, but I'm wondering how the process differs when targeting a commercial property with residential above it? Are there things we should be aware of that maybe I wasn't as focused on when purchasing a residential property alone? Obviously the condition of the market, and the costs associated with fixing it up are vital, but in terms of the buying process (i.e. pre-approval, loan, interest rates, etc) what should we be most aware and cautious of? Also, are there initial steps we should be doing now to help this process flow smoothly?