Not true here in JAX especially beach property...if you can afford to keep it and build it out then do it. Beach properties here continue to appreciate at a pretty high rate...let me know if u decide to sell it. I'm a mortgage broker with alot of realtor contacts in the area.

 

I don't know the market there, but my guess is that it would command a higher price is the rest of the building were fully occupied.
You also want to own it for a year if you want to get the lower capital gains rates when you sell.
Wise choice to get in early, in any case.

 

How in the **** are we supposed to make your financial decisions for you?

If you have a company certainly you have an accountant -- and my guess here is that person knows a hell of a lot more about your finances than we do based on some pictures posted on the Internet.

 

Once again steve c brings it home




What's the vacancy rate on commercial real estate in that area? In Columbus, there's a glut and prices have fallen. I know about keeping cash flow in a start up. Your first priority lies there. There will always be cool real estate to buy.

 

thx for the words everyone ... steve c you're right nobody on this board was going to give me a direct consultative answer. It was somewhat of a stressful decision i had weighing in my head, had to come up with an answer very quickly and go with it because we have a buyer banging on our doorstep. If you think in some fashion me posting this here was the extent of my analysis and research, i was gonna poll the answers and go with the majority...then your gut perception of situations seems to be heavily skewed.

I posted it more for fun to blog some of my thoughts on paper, get some conversation going about it just to throw it around in different lights...stuff like that helps me sometimes for kicks. Plus I tend to think the people on s2ki interested in real estate are educated.

The decision was made to sell and inject the profits into capital for my startup. Meeting with prospect buyer on Monday, hopefully everything goes smoothly.

Derryk: yes we are definitely going to sell it now