Looking for some input on evaluating a commercial property
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[{"id": "dkcbunq", "text": "This does not sound like the right deal for a guy with zero experience. ", "replies": [{"id": "dkcf9ww", "text": "Agree sounds like a risky deal where a good buyer would know a lot about the repairs and maintenance needed to be done and know the people who could do it for cheap.", "replies": [], "depth": 2}], "depth": 1}, {"id": "dkcdstb", "text": "The frame needs to be sanded ???  Why ?", "replies": [], "depth": 1}, {"id": "dkcgy8p", "text": "&gt; Some shit about 1 of the 3 wells not being at acceptable contaminant levels, so would need to pay an environmental company to resolve that   \n\nSome shit, lol. You're talking about remediating ground water contamination or dealing with leaky tanks. Ask for the owner's most recent Phase II ESA so you have an idea of what you're dealing with. Having your own Phase II done is going to cost bare minimum $10,000.   \n\nI have just enough experience with contaminated properties to know that if you aren't an expert, pass. Literal money pit", "replies": [{"id": "dkchz9c", "text": "Agree. Get off Reddit so you can run faster away from this deal. The only way I'd consider this at all is if the seller remediated the environmental issue ahead of time, and even then I'd be skeptical. A couple grand for a phase 1 (useless since you know there's an issue), $10,000+ plus several months of hold costs for the phase two, only to discover what could be an enormous (read: uncapped) environmental issue? You'd do better to pull the money you'd need for the deal in cash and light it on fire. At least the you don't have the stress and liability. I'm not trying to be a jerk, just trying to emphasize how risky this is. If you have someone who's a contractor buy clean land and build. ", "replies": [{"id": "dkcm01s", "text": "Nah, you guys are right. I had a contractor look at it today. Guy laughed me out of the room. The prior owner ran a metal heat treatment plan and has numerous EPA and state health violations associated with the property from 2004-2008. I have no idea whether or not these were addressed yet but judging by the mountains of pigeon shit on the floor, I would assume no. BTW, if you want to see what this biohazard looks like, here is a quick inside tour. And yes, thats an asbestos lined oven at the beginning\n\nhttps://streamable.com/srryo\n", "replies": [{"id": "dkcprvw", "text": "Looks like a tear down, so you have the value of the land minus the environmental issue remediation. In addition, until it's torn down there's liability that kids will get in there and hurt themselves. ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dkd4pis", "text": "Lol yeah this sounds expensive as fuck to rehab and it would take a very experienced developer for it to even have a chance. You should stay away....or dont....you know, because, yolo....put all your savings on black and cross your fingers.", "replies": [], "depth": 1}, {"id": "dkd4ry5", "text": "Also forget about the contracting costs think about environmental issues...then youre dealing with the city, and they wont fuck around, there will be no favors.", "replies": [], "depth": 1}, {"id": "dkdggdh", "text": "Environmental issues are usually very costly to resolve. Think about the money you are going to invest... I mean loose! Sometimes you gotta know when to walk away!", "replies": [], "depth": 1}]