I have the opportunity to buy a small 1100sf house used as an office. A local real estate company is renting it now and will sign a 2 to 3 year lease when (or if) I buy the house. It's located in a small booming town on one of the main streets. It a very nice looking remodeled 1955 house and is sounded by other businesses and some residential house.
Anyone own commercial/residential zoned houses used for businesses? If so, how has it been for you?
@Dave Chapa I bought a house at auction just like you describe a few months ago. It was vacant and I haven't found a tenant for it yet so it hasn't been a great experience so far.
But I'm glad a I bought it so here's my thinking on it. It has great flexibility. I can rent it commercial which is what I have been trying. It can take time and patience to find the right tenant but if you find one they likely will stay awhile.
But if that doesn't work out, I can always just rent it to a residential tenant. Demand is extremely high in our area for rental houses so that's my fall-back plan. And you might assume the busy street might be a turn-off but there actually seems to be a lot of demand for small residential on busy commercial streets because of the convenience factor.
My last consideration is, regardless of what I end up doing with the property short-term, I think it will be a great buy long-term due to the high traffic count street.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing