At the Apex Biz Expo I talked with a commercial mortgage lender about my situation. She basically told me to get her details and she’s see what I could handle. So I did. And she did.
According to her, the value of the building shouldn’t be more than $150/sq. ft. which equates to $297,000. Of course an investor thinking of buying my lot, the one behind (if it were ever sold) and the one behind that could tear everything down and start new. But, I figure it’s not going to hurt to go for it at $300,000 and see what happens.
I even got a potential tenant upstairs … where our businesses would compliment each other (even better) and we’d make the entire building very warm, cozy, kid friendly and make all but the individual offices common area. 🙂
So we’ll see. I’m not rushing anything, but I want to be prepared and I’m not going to go higher because 1 … I can’t afford it and 2 … I don’t think the building is worth it and 3 … I don’t think that’s where I’m being lead. 🙂
We’ll see!