If this was mine I would spend some on finishing the front wood floors and paint the back floors grey. The first thin my eyes went when coming in the door is the terrible state of the floor. A little sanding and poly would make the entire building look much better. The paint for the rear would clean it up and look ready to use. I have been a commercial specialist for many years and the first impression of this property could be raised a lot. Good luck!
Mark have you thought of taking that old hotel and combining the two basements together and making them a large garage for cars to park in and stuff? Maybe have the building all gutted and build from there or something. Have a Priest bless the place for safe keeping. There is a spirit there for sure in the basement. It's nothing to worry about. Say out loud St. Michael's Prayer of Protection and that'll help you. Maybe make the main level a Self- Storage and the upper level apartments. All the best.
On the last property, how did you manage to get the roof replaced under insurance, on such an old building? Was the flat roof replaced with another flat roof that just had more pitch?
It used to be common knowledge that renters paid a premium because of the flexibility it affords a business. Now, renting is significantly cheaper than owning as well in my market. Mostly due to high asking prices, high property taxes and high cam.
Mark, one point. With inflation, hindsight is no longer 20/20. It's 2025! Awful pun. Nice walk down memory lane. You should make brief compilations, a murder room theme for Halloween or for fun, homes that sold in record time vs homes that didn't (since you said home sales take nowhere as long), Buildings I Have Converted Successfully, Etc. 🖖🙏
It will sell Mark but not at 400,000 you only looking at sq ft. But it's such a property constructed for the sole us as the original inhabitants! ie the coil Co. And then later the furniture store!
@investfourmore not really it doesn't come with enough outside land!! But good luck! Wired ass building I myself own a lot of commercial properties and you couldn't give me that one!! Basement is basically useless and inside sq footage is restricted to how you could use it in level floors! etc.
Maybe that big 18000sq foot building could be divided into two smaller buildings again. Might be difficult with the city but I think something to look into.
Wait what?! That’s crazy high taxes? I have a 4 unit residential apartment building in Cincinnati OH. It’s worth 320k and I pay 9k in property taxes annually.
@@investfourmore all the rents add up to $4265. Our taxes should be .25% but for whatever reason I’m getting charged more. I’m gonna reach out to them and double check. But seems way too high for the mid west
Some may be reluctant to purchase commercial properties because on the whole, retail and service sectors are losing revenues, and the incoming administration is pretty much going to tank the economy for folks of modest and intermediate means (like you). Look for record government borrowing (because the current party in power borrows and spends while complaining about deficits, the other party taxes and spends, either way WE pay the bill), lack of budgets from either congress or executive branch, and resurgence of inflation. Those factors have kept me out of commercial purchases.
The small restaurant should have been converted into a small office. A small real estate brokerage would have been good for it. The 18,000 sft building might be good for a good gym.
Mark couldnt you excavate the basement and turn it into res parking . mark do you know if the building has asbestos in the wall plaster and how could that even be a hotel theres not even a single room lay out . mark remember something its harder to sell commercial property in small towns compared to big cities i know because i used to work for someone who owned a building over 35000 sqft it was an old bottling plant we devided the building into 2100sqft industerial condos and sold each unit all we did was put up block walls and each unit had its own electrical entrance and meter any other renovations were left up to the new owner .
Because landlords have been conspiring to keep rent high. There is actually a lawsuit happening right now. I can't post the link because RUclips doesn't allow it, but this is the basis for it: 10 states including North Carolina, Tennessee, Colorado and California, is accusing six landlords that collectively operate more than 1.3 million units in 43 states and the District of Columbia of scheming to avoid lowering rents. This is just what they are currently investigating. It's pretty obvious there is far more than just these 6 doing this but the "market price" excuse is old and nobody is falling for that anymore. Landlords are going to need to find a new way to try and justify their wealth addiction.
@@lysergiclogic that lawsuit says that using an online tool to see what other places rent for is fixing rents. I guess if I want to know what market rent is, that means I am conspiring to keep rents high? Like when I look at other stores prices to compare to my liquor store and grocery store. I am obviously conspiring to keep prices high. Those prices should be a secret.
@@investfourmore color me surprised you are trying to justify your actions and the actions of others to support wealth addiction. There is more to it than just "checking prices". Nice try though.
Mark at 5:08 in the video when you tried to open that old sharp microwave and it wouldn't you need to press the button on the door handle to open it. I should know i own the same microwave. Hopefully you kept it. The older microwaves tend to work a lot better then the new ones. Mine lives in my home office and i use it all the time. Mine actually belonged to a late relative of mine who bought it new from Sears.
@@investfourmore I'm remembering a few banks in California a couple of years ago running into some difficulty. And why was Bank of the West and others have new ownerships/names
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
Here is the super creepy 18k sqft building when I first bought it ruclips.net/video/t371BXGhtio/видео.html
If this was mine I would spend some on finishing the front wood floors and paint the back floors grey. The first thin my eyes went when coming in the door is the terrible state of the floor. A little sanding and poly would make the entire building look much better. The paint for the rear would clean it up and look ready to use. I have been a commercial specialist for many years and the first impression of this property could be raised a lot. Good luck!
Mark have you thought of taking that old hotel and combining the two basements together and making them a large garage for cars to park in and stuff? Maybe have the building all gutted and build from there or something. Have a Priest bless the place for safe keeping. There is a spirit there for sure in the basement. It's nothing to worry about. Say out loud St. Michael's Prayer of Protection and that'll help you. Maybe make the main level a Self- Storage and the upper level apartments. All the best.
The two basements are not connected and one is very small. it would take some major rennovations in the basement to create enough room to park
@@investfourmore Oh Okay thanks.
Things will be getting better soon.
Have faith🤗
On the last property, how did you manage to get the roof replaced under insurance, on such an old building? Was the flat roof replaced with another flat roof that just had more pitch?
Really surprised the old hotel hasn't sold at 130. That building could hold a massive supply of inventory.
It is huge!
It used to be common knowledge that renters paid a premium because of the flexibility it affords a business. Now, renting is significantly cheaper than owning as well in my market. Mostly due to high asking prices, high property taxes and high cam.
if interest rates would lower it would fix a lot of that!
Would you ever buy a mobile home park to manage?
@@UncleDavesKitchen probably not.
Taxes on that in my county would be at least 15k.
Mark, one point. With inflation, hindsight is no longer 20/20. It's 2025! Awful pun.
Nice walk down memory lane. You should make brief compilations, a murder room theme for Halloween or for fun, homes that sold in record time vs homes that didn't (since you said home sales take nowhere as long), Buildings I Have Converted Successfully,
Etc. 🖖🙏
i have made some of those but it has been a while,.
It will sell Mark but not at 400,000 you only looking at sq ft. But it's such a property constructed for the sole us as the original inhabitants! ie the coil Co. And then later the furniture store!
If it was selling based on just square footage it would be way more than $400k
@investfourmore not really it doesn't come with enough outside land!! But good luck! Wired ass building I myself own a lot of commercial properties and you couldn't give me that one!! Basement is basically useless and inside sq footage is restricted to how you could use it in level floors! etc.
How did a hotel work with no plumbing?
would it be possible to use basement as parking for the last property? its pretty common for residential around here
Maybe that big 18000sq foot building could be divided into two smaller buildings again. Might be difficult with the city but I think something to look into.
maybe lower the price?
Wait what?! That’s crazy high taxes? I have a 4 unit residential apartment building in Cincinnati OH. It’s worth 320k and I pay 9k in property taxes annually.
compared to 1,500 for a house the same price yes. What are your rents on that building?
@@investfourmore all the rents add up to $4265. Our taxes should be .25% but for whatever reason I’m getting charged more. I’m gonna reach out to them and double check. But seems way too high for the mid west
Some may be reluctant to purchase commercial properties because on the whole, retail and service sectors are losing revenues, and the incoming administration is pretty much going to tank the economy for folks of modest and intermediate means (like you). Look for record government borrowing (because the current party in power borrows and spends while complaining about deficits, the other party taxes and spends, either way WE pay the bill), lack of budgets from either congress or executive branch, and resurgence of inflation. Those factors have kept me out of commercial purchases.
Just like anything else be patient. Things don’t happen overnight. You have slot more to worry about right now. Let it sit and collect later
The small restaurant should have been converted into a small office. A small real estate brokerage would have been good for it. The 18,000 sft building might be good for a good gym.
a restaurant will pay way more money
Mark couldnt you excavate the basement and turn it into res parking . mark do you know if the building has asbestos in the wall plaster and how could that even be a hotel theres not even a single room lay out . mark remember something its harder to sell commercial property in small towns compared to big cities i know because i used to work for someone who owned a building over 35000 sqft it was an old bottling plant we devided the building into 2100sqft industerial condos and sold each unit all we did was put up block walls and each unit had its own electrical entrance and meter any other renovations were left up to the new owner .
are the taxes as high for commercial when you buy it and use it yourself for a business instead of renting it out?
I thought you said higher interest rates dont put downward pressure on values
As I said, prices aren't dropping. Sales and activity are.
Commercial is a bad investment rn. Market is down further than reported. Residential and land is appreciative still
Because landlords have been conspiring to keep rent high. There is actually a lawsuit happening right now. I can't post the link because RUclips doesn't allow it, but this is the basis for it:
10 states including North Carolina, Tennessee, Colorado and California, is accusing six landlords that collectively operate more than 1.3 million units in 43 states and the District of Columbia of scheming to avoid lowering rents.
This is just what they are currently investigating. It's pretty obvious there is far more than just these 6 doing this but the "market price" excuse is old and nobody is falling for that anymore. Landlords are going to need to find a new way to try and justify their wealth addiction.
@@lysergiclogic that lawsuit says that using an online tool to see what other places rent for is fixing rents. I guess if I want to know what market rent is, that means I am conspiring to keep rents high? Like when I look at other stores prices to compare to my liquor store and grocery store. I am obviously conspiring to keep prices high. Those prices should be a secret.
@@investfourmore color me surprised you are trying to justify your actions and the actions of others to support wealth addiction. There is more to it than just "checking prices". Nice try though.
@@lysergiclogic so what more is there to it>?
@@investfourmore looking for others to do the work for you huh? At least you're consistent.
Mark at 5:08 in the video when you tried to open that old sharp microwave and it wouldn't you need to press the button on the door handle to open it. I should know i own the same microwave. Hopefully you kept it. The older microwaves tend to work a lot better then the new ones. Mine lives in my home office and i use it all the time. Mine actually belonged to a late relative of mine who bought it new from Sears.
Rent out the old furniture repair shop to the appliance guy he can make more
he wanted to be in a different area. I told him about it
Come to new jersey then talk about taxes 😂 400k single family taxes around 9k crazy
has anyone ever offered seller financing to purchase one or your properties and have you ever tried to buy a commercial property via seller financing?
Some have tried but usually the terms are no good and I have looked into it a few times buying but again the terms never worked out.
Turn of the century meaning: 1800 to 1900 instead, of 1900 to 2000?
You need to get Nikki on some of your videos to give her opinion on some of the investment/buisness properties your doing...
They are too expensive!
There can be
nothing wrong with a property that price cannot fix.
Wassup
The Banks are crashing. You have to have great credit 775 or higher..
What banks?
@@investfourmore I'm remembering a few banks in California a couple of years ago running into some difficulty. And why was Bank of the West and others have new ownerships/names
I'll Buy It For A Dollar.
😉
Over priced