Difference between revisions of "FutureRealEstateResearch"
(Created page with "=Possibly buying the building= Dumping questions here. Organize later. We might have to replace the roof 30g? We might have to run a new electrical box? We might need to water p...")
Revision as of 14:09, 19 January 2012
Possibly buying the building
Dumping questions here. Organize later.
We might have to replace the roof 30g? We might have to run a new electrical box? We might need to water proof the basement 15g? HVAC system? 10g We will need to rejack the big room floor and make it a solid structure?
We know the building was bought for $177,000. We also know that when the property was transferred to them, they were not required to bring the place "up to code," and the building was not condemned.
Benefits: - This would allow us to have a nicer, more public-facing facade. - This would allow us to make more permanent improvements towards the achievement of our goals. - Maximum utilization of space (this came up Tuesday, discussing the big room).
Cons: - Acquisition of all the uncertainty, liability, and illiquidity that the Zinks currently maintain - Inability to remain *as* mobile as an organization
Potential Roadblocks: - Possibility of Condemnation upon inspection (seems likely that the Zinks would want to sell the building 'as-is,' without an on-the-books inspection). - Roof life estimate, and cost of repair/replacement - Structural integrity
More questions that would need answering (not proposing that they should be answered by us, or here and now, just brainstorming): How long is our interest in the property? (5 years, 10 years?) How much do the Zink's want? Are we required to bring the building up to code? If so, what is required? How structurally stable is the building? How structurally stable is the roof? How much wash-out is there under the building? Does this wash-out have any structural impact? Do loans for non-profits work like commercial real-estate loans, with "balloon payment" terms? Can we roll space improvements into any loan? What improvements would be critical if we owned the joint? What improvements would be "nice to have"?