Leveraging Real Estate
I need some experienced advice. I have a piece of commercial property I acquired with the intentions of building a beer garden. I want to build a 2000sq ft building. My rough estimate is 400K to do so. Or my other idea is to build the building larger with apartments above.
Currently, I own 5 rental properties, 2 of which are paid off and the land which I carry 103k on. I’d really like to leverage the equity and build a building but my cash flow is weak since I have a son in college.
Thoughts?