New Business…New Building?

I have been running around like a chicken with my head cut off lately and let me tell you, it is a heck of a lot of fun!

It appears that I will be a new partner in the fitness facility that I have been speaking about in a previous post. Not only that, we are now looking at the possibility of a new location by forming a company to purchase a commercial building on the busiest street in the city.

The idea is that the building will be purchased by our new company (With a couple of additional investors) and the fitness centre will be the anchor tenant, leasing the bulk of the space. This will accomplish two goals:

1.) The fitness facility will get a new “Prime” location which is significantly larger and more visible allowing for increased marketing potential as well as room for instructor led fitness such as yoga, pilates, kickboxing, etc. It will also allow for additional space to be provided for locker rooms and the recruitment of a massage therapist.
2.) This will also allow us to purchase highly valuable property on the main street in the city with additional space for leasing at premium rates. The location will also provide more probable appreciation going forward.

I still haven’t heard anything from the investment group that I have been scouting apartment building for. I am really hoping that they can come up with a deal soon. I have now provided them with 4 different properties from $200,000 to $1.35 million in value.

Good luck to everyone!

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