Commercial property deal analysis - HELP!
Recently I️ had this deal thrown my way on a commercial property and I️ wanted to get others opinions on it. The property is an 8 unit commercial building with 1 residential unit. It is also a seller financing deal. The selling price is $250,000 with 15,000 down amortized at 6% over 15 years. It brings in $4700/month with expenses of around $2,000. Payments would be $2,000, leaving a cash flow of around $700. I️ know it doesn’t cash flow the greatest, but I️ feel that it would be a good buy to build equity rather quickly being that it is a $250,000 property and is seller financed. Or what if I️ could get it for $10,000 down at $235,000? What’s everyone think? Need some good advice!