Need Help Purchasing Commercial On Government Property
I am new to the realestate game and need help with this opportunity. I have an automotive aftermarket parts business and found a property that would be perfect for us, an old car dealership. I talked to the owner and they own only the buildings. The land is owned by the county on the edge of an airport. In our brief discussion on the phone the owner is only willing to lease the buildings. Now we would like to incorporate a youth center and youth programs on site helping to transform a downward sloping community.
My question is, is there any way of approaching this so that we could buy the land and the buildings so the money we pay in lease is not lost but put towards equity. Please help, any suggestions or ideas would be helpful.
God Bless,
Eric
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The odds of you being able to purchase this land are not quite exactly (but almost) Zero. The county is holding onto the land in hopes of someday expanding the airport. They know that if they sell to you and later need to buy it back then the price will go way up. Besides they are the government they do not exactly have the same issues people do with non-performing assets.
I'm afraid that leasing the buildings is the best you are going to do.