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re: question about commercial property I inherited and what to do with it

Posted on 12/7/23 at 5:59 am to
Posted by makersmark1
earth
Member since Oct 2011
16055 posts
Posted on 12/7/23 at 5:59 am to
All I know is they are not making any more land so over generations land is usually a good investment.

Do you have anyone in your network in real estate?

I don’t know anything about this type of thing, but I’d look at my network and see who could help me sort it out.

My brother in law made his fortune in commercial real estate development/leasing. Maybe someone you know is in the space there?
Posted by thesabanizer
funroe
Member since Dec 2023
75 posts
Posted on 12/7/23 at 7:00 am to
I'd love to keep it, its just the taxes, insurance and electric bill of this warehouse would be a lot for me if it were not making money, right now its covered, but I spoke with this tenant and he is retiring when his lease is up in February.

I can list it for rent again or I could sell it, Im sure neither happens quickly but I was thinking more of what can I do and maybe get out of teaching. It's a great opportunity if I can figure out how to do something with it and I'm trying to learn more about that.

I called a couple commercial brokers already and all seem too busy to call you back/answer an email. I think I reached out to maybe 7 and 2 replied.

I've read some about getting a NNN tenant online to come in, build them a place like a fast food restaurant and lease it to them, I'd love to do something like that if wife and I cash in our retirement accounts/borrow but again the realtors haven't been much help to this point, that's why I'm trying to figure out the best course of action online. Thanks again
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