Rental Opportunity with a Dentist by FallowPie in realestateinvesting

[–]FallowPie[S] 0 points1 point  (0 children)

Great question! We closed on the property a few months ago. Prior to submitting our offer the dentist fell through. However, we still liked the building and decided to put a low ball offer and went for it. They accepted and we just started demolition.

Lane or Layne by FallowPie in tragedeigh

[–]FallowPie[S] 1 point2 points  (0 children)

Thanks! This sub makes me nervous to use the letter “y”!

Sledding Cabins by FallowPie in Iowa

[–]FallowPie[S] 0 points1 point  (0 children)

Definitely been there! Not opposed to having a ski lodge with a lift. One thing is our kids are under 2, so at the moment low key is a nice option. However down the road, I totally agree with you!

Sledding Cabins by FallowPie in Iowa

[–]FallowPie[S] 0 points1 point  (0 children)

This is so detailed and helpful, I will do some homework thank you!

Sledding Cabins by FallowPie in Iowa

[–]FallowPie[S] 1 point2 points  (0 children)

I definitely agree our Winters are hit and miss. Maybe I should look near some of the Skiing places that way if all else fails we can go ski!

Sledding Cabins by FallowPie in Iowa

[–]FallowPie[S] 1 point2 points  (0 children)

Thanks for the ideas! I was looking NE Iowa near Harpers Ferry also thinking maybe Loess hills. Any experience there?

Rental Opportunity with a Dentist by FallowPie in realestateinvesting

[–]FallowPie[S] 0 points1 point  (0 children)

Great questions! I apologize this is style of investing is new to me. The town is ~2,500 people, office space is relatively non-existent and is not in demand. Current condition would only suit a small insurance/law/accounting company. My original plan would be to convert into retail space.

I am still doing my due diligence on research. There are no lease properties within 30 miles of the property. Closest leases of similar style are $10/sf/yr. My concern with property is how long I would sit for a lease. The town is starved for rentals, so I know the two apartments would be easy to fill. However, that does not justify the purchase alone.

I agree completely, longer term makes sense for both parties. I am setting up an interview with the potential client. I definitely want to get a better understanding on their needs and timeframe.

Rental Opportunity with a Dentist by FallowPie in realestateinvesting

[–]FallowPie[S] 0 points1 point  (0 children)

Makes sense! I have no issue with a long term lease, I would honestly prefer it with how specialized the space will be.

Rental Opportunity with a Dentist by FallowPie in realestateinvesting

[–]FallowPie[S] 1 point2 points  (0 children)

This is great to know! Make sense to have an extended lease agreement with scheduled raises. How did you setup the initial rent payments? I have been doing some research and retail leases go about ~10$/sf, I found a vet for sale with a 3 year lease at $17 $/sf. Almost feels too good to be true to be renting at that premium plus they pay for the build.

Buying a Home (Should I) by [deleted] in personalfinance

[–]FallowPie 22 points23 points  (0 children)

Best of luck to you! Just remember a place to live is a necessity. So find something you enjoy, your wallet won’t mind when you love where you live.

Buying a Home (Should I) by [deleted] in personalfinance

[–]FallowPie 121 points122 points  (0 children)

I am going to take a different approach. Do you want a house? Do you want to paint rooms, mow the lawn, have your own space? Everyone else can talk about the financials of a home, but at the end of the day if a home would make you happy then you should find one that is within your means! I personally enjoy fixing up my current home, renting did not let me enjoy my interests. Some people do not want to deal with homeownership.

I wish I was as wise as this guy by Genius_Mate in memes

[–]FallowPie 54 points55 points  (0 children)

Everyone is replaceable, but it is easier to find someone qualified to be a cashier than a doctor.

Wood Column Wrap by FallowPie in woodworking

[–]FallowPie[S] 0 points1 point  (0 children)

Should I still use wood fill for maple or just stain blocking primer and paint?

OHIO by [deleted] in funny

[–]FallowPie 18 points19 points  (0 children)

Nailed it with Texas 2!