I purchased a school, here's a video tour and explanation of what I'll be doing!
[{"id": "dmg03ry", "text": "Congrats on your new super-mansion! :)", "replies": [{"id": "dmg7rw2", "text": "Lol thanks!!", "replies": [], "depth": 2}], "depth": 1}, {"id": "dmgfliq", "text": "I think using the gym as a wedding venue/events center is a great idea. Especially with an attached commercial kitchen. Is there any zoning/planning barrier to changing to a higher traffic use?  You could probably find a church who might want to rent it on Sundays.  Decent parking available?\n\nOne of the main uses for old public schools in my area is sale or lease to private schools.  You might be able to generate income renting out portions to a daycare center, charter school, community college, civic club, who doesn't want the whole thing but might like to occupy a portion of it.\n\nWhat is the office market like in your area?  Is there demand?  Good occupancy?  What kind of rents do you think you could get?  Very little functional difference between a classroom and an office.", "replies": [{"id": "dmlg7jh", "text": "No zoning restrictions, decent parking. Maybe 50 spots, but plenty of land around it. \n\nYeah that would be a good idea, if I could find the right renter.\n\nProbably not in this area, it's more rural. But even if I could rent it for like 25 cents per sq ft per year, that would still more than pay all my expenses and then some. ", "replies": [{"id": "dmli14q", "text": "I've watched the video a few times, and I really start to lean toward a church with attached offices and daycare/youth center as a real candidate for highest and best use, at least for a portion of it.  Dependent, obviously, on the market, but if there's a church in the region that's growing and starting to outgrow its facilities, you might want to hook up with them.\n\nI'm really interested in hearing the progress on this.   Please post in this sub whatever you decide to do.", "replies": [{"id": "dmycb5f", "text": "There is a church, not sure if they're running out of space though. I have had a very small church approach me about renting a space for use only on sundays. ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dmgfnh0", "text": "Awesome purchase, although watching the video felt 100% like some kinda horror movie, I was just waiting for the jump scare that never came....", "replies": [{"id": "dmlg920", "text": "Lol same, every time I go I bring someone with me....it's much better with the lights on though. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dmglojk", "text": "What was the process for getting a (presumably commercial) mortgage on a place like this with only vague plans of what you'll be doing with it?", "replies": [{"id": "dmj9rct", "text": "I am pretty sure he paid cash.\nIf he got a loan it was personally guaranteed ", "replies": [], "depth": 2}, {"id": "dmlg0t2", "text": "I got an 80/20 5 year balloon loan, personally guaranteed. I didn't pay cash. Honestly not sure if that is technically a commercial loan or not. ", "replies": [{"id": "dmwavg4", "text": "i doubt you got a qualifying residential mortgage. It might be a consumer loan though\n", "replies": [{"id": "dmyc8u6", "text": "It's not a residential mortgage, it's commercial. 80/20 renewable every 5 years for 15 years. ", "replies": [{"id": "dmydn5s", "text": "80/20 meaning you put 20% down? I never hear that in commercial lending", "replies": [{"id": "dsjgl88", "text": "Yes correct. ", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dmgs9g7", "text": "Great story! Am sure you will sign the first lease soon! ", "replies": [{"id": "dmlg85x", "text": "Hopefully!", "replies": [], "depth": 2}], "depth": 1}, {"id": "dmj9rok", "text": "This shouldn't be here ", "replies": [], "depth": 1}]