What do I do with this property?
Hi, I have a martial arts business with my family in Tennessee. We purchased a piece of commercial property last year. It is in a great location and we had plans of putting our own business on the lot in the future.
However, I would like to explore options for turning it into a cash flow property. It is about 1.5 acres and we need a 10,000sq. ft. building for our personal business. So, if we put our business on the property it would take up most of the space. The land is undeveloped at the moment.
We are just getting started in rental properties and are very new to investing in properties and real estate. I am looking for ideas and advice for increasing cash flow and using this piece of property to its fullest potential.
thank you in advance.
Keith