I'm just stuck in this position where I'm not sure its worth it to purchase this building if the owners who have it in a trust will even do. The benefits for me are the landlord they have managing the property is not really doing much for them. My lease rate is pretty low. So it makes it tough to swallow the payment increase but sets me up for later. So I'm working on buying what I in to avoid moving. Plus I like the area I'm in, The building works well and is very close to 3-4 of my repeat customer.
But the commercial market around here never really took a dive like the housing market did. The housing market has doubled in the past 6 years or so. The commercial has not. I'm wondering if buying another property would be more well suited with the rental rate I have. I sold a couple of my race cars in the past year and have been stashing money away to work toward owning my shop and setting myself up for the future. Just trying to understand things. I get the vibe from realtors they want to sell me something and not so much forecast what they see coming.
With the price of oil being down and unemployment being higher then normal, I'm surprised the available properties have not gone up. The rentals have. But maybe that is the sign before those unfilled rentals go up for sale. Bakersfield has always been a weird economy. When the world is falling apart things are OK. Its Agriculture and Oil that really kill us. Currently Dairy and Oil are pretty tough right now.
Just trying to learn more and more. Thanks for the info.
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