All Forum Posts by: Levi Tansy

@John Mocker

I appreciate the advice

@Bjorn Ahlblad

Hey I appreciate the help! I'll definitely peek around the BP forums on this. And I know the cash flow because of the experience my relative has had over the past 10 years with the property. The monthly income from rent will be about 2% of the purchase price and it's had an extremely low vacancy rate.

For how I'm financing, my relative would seller finance the deal. So I definitely have some wriggle room to make a move.

I really appreciate the input! Please let me know if you have any other thoughts on it

@Bjorn Ahlblad

...

I have a deal being offered to me where a house is on commercially zoned land. This makes the exit strategy tricky because a bank is less likely to loan to a potential buyer because if it burns down, you can't build a new house. 

So my question is if I have insurance on the house and it burns down while I own it, can I use the settlement to build something commercial?

I appreciate the help! I'm new and I couldn't find much on the web addressing this specifically. 

Hey guys!

I have the opportunity to buy a house for what seems like a sweet deal off-market and through family. It's a 5 bedroom triplex in Great Falls MT with repairs needed to the foundation.

My idea is to buy and hold(there's good cashflow) with the option of selling at an appreciated price. But the problem is that it is zoned commercially. From the little bit of research I've done it sounds like this could make selling a real nightmare. The house literally has businesses on it's left and houses on it's right.

So my question is what are some of the common problems you run into owning a house that is zoned commercially?

And, What are the proper questions I need to ask to find out what I need to know to make a sound choice?

I appreciate the help!

Hey guys!

I have the opportunity to buy a house for what seems like a sweet deal off-market and through family. It's a 5 bedroom triplex in Great Falls MT with repairs needed to the foundation. 

My idea is to buy and hold(there's good cashflow) with the option of selling at an appreciated price. But the problem is that it is zoned commercially. From the little bit of research I've done it sounds like this could make selling a real nightmare. The house literally has businesses on it's left and houses on it's right. 

So my question is what are some of the common problems you run into owning a house that is zoned commercially?

And, What are the proper questions I need to ask to find out what I need to know to make a sound choice?

I appreciate the help!