Property Uses
PROPERTY CAN BE UTILIZED AS AN INCOME PROPERTY OR BY A SMALL BUSINESS OWNER
Income Property:
- There are 4 units with the possibility of 5 units to rent out.
- Front Office could be subdivided into 2 rentals.
- 3 bedroom house
- 1 bedroom apartment
- Warehouse with attached office
Small Business Owners:
- Tired of paying a personal mortgage & a business lease or rent?
- Tired of commuting to work?
- Not enough potential customers can find you?
- Would you like to make some rental income from your property to help pay the mortgage?
The cheapest form of Advertising is Location, Location, Location!
I was the business owner of File-Busters – a document destruction & records storage & management company which I sold.
Anyone who owns a small business knows you work long hours so working on the same property where I lived was a benefit. Valuable hours were spent being with my family rather than commuting to work. I could even rope my kids into working for a few hours here & there when I needed them.
The location is perfect – on Route 196, the major arterial between Interstate 95 & 295.
- Easy access to all markets by being on the feeder route for the Interstate roads.
- The warehouse is heated and setup with 3 phase power, a security and fire detection system and a good size attached office.
- Well built home- built by a cabinet maker.
- Rent out a portion of the property to cover the mortgage.
- Good Visibility & large signage out front – free advertising!
I so wish I had credit because I have a viable business plan and when I have a place to sell from, brings in enough money to pay my expenses. I would jump on what you have to offer in a minute! Just out of curiousity, what are taxes on the property and what would a mortgage payment run (approximately), on a monthly basis?
Hi Carole,
Getting the financing is always the hard part & that was a huge obstacle for me as I had the business plan & projections but no history. I went to about 10 banks & finally found one that would write the mortgage as personal instead of commercial, as we also used the property as our residence.
Our property taxes are just shy of $8,000.00/year & the mortgage payment runs ~ $2,700.00/mth for us on a 20 year mortgage.
Carole, I forgot to mention that the property tax payment is included in the mortgage payment.
Price change!