I have an old two story residential building (each floor area is 300 meter square = 3230 feet square) built on 1100 meter square = 11840 feet square)
I am thinking of investing in the building rather than simply selling it (it is valued at 1.5 millions but due to harsh economy in my country no serious offers were made)
Converting the building to commercial property and then renting it will need the following:
1. 110k $ paid in installments over fivr years to the authorities for changing it to commercial. (deposit must be made)
2. Renovating the building exterior and interior with a rough estimation of 100k $
Currently I have no cash, and I will take a loan from a bank with a rate of 7% per year
I will need 120k $ from loan paid over 5 years. That would be 32.4k $ yearly.
Now the estimated rent of the building would be 80k $ yearly.. I will pay the loan and the authorities installments from the rent.
13 freelanceria on tarjonnut keskimäärin %project_bid_stats_avg_sub_26% %project_currencyDetails_sign_sub_27% tähän työhön
I'm confident to assist you with my experience in similar projects. If you award this project to me, I'll do my maximum to complete the work as per your requirements accurately / timely.