Real Estate Investment Properties

[SummerChild]

All,

I thought that this would be a good thread to discuss experiences with real estate investment properties. We have a thread about buying real estate in general but I think that most of the issues discussed deal with acquisition for personal use, which appears to be somewhat different in concerns, liabilities, costs, etc. from real estate investment properties.

I'll start it off.

Does anyone have experience with purchasing live/work lofts that can be rented short-term and then converted into business space or later sold? I know that one has to ensure that the loft is zoned for residential and commercial right?

What are the other considerations for this or any other type of investment property?

Any tips and strategies for buying real estate investment properties?

SC

[acedawg00-02]

You're right, the first issue is zoning...typically, a set-up like this falls under Mixed Use (MU). However, the nomenclature may vary with municipality.

I am currently working on a office conversion for a client...and we're having to restructure the interior and build fire rated walls between occupant spaces.

1. Some building departments may require sprinkler systems. So, be sure to inquire about about fire suppression and life safety.

2. Parking (or lack thereof) should be taken into consideration as well.

3. Also, Handicap Accessibility (ADA) requirements may have to be met. So, make sure that you have at least ONE handicap accessible restroom on the first floor.

BTW -what state...city are the properties located?

Anything else...feel free to ask...or PM me. I'll help the best I can!!

[SummerChild]

Thanks Ace. I'm going to go through your post in detail. Know any good books?
SC

Originally Posted by acedawg00-02

You're right, the first issue is zoning...typically, a set-up like this falls under Mixed Use (MU). However, the nomenclature may vary with municipality.

I am currently working on a office conversion for a client...and we're having to restructure the interior and build fire rated walls between occupant spaces.

1. Some building departments may require sprinkler systems. So, be sure to inquire about about fire suppression and life safety.

2. Parking (or lack thereof) should be taken into consideration as well.

3. Also, Handicap Accessibility (ADA) requirements may have to be met. So, make sure that you have at least ONE handicap accessible restroom on the first floor.

BTW -what state...city are the properties located?

Anything else...feel free to ask...or PM me. I'll help the best I can!!