Hi, I am new to this and just looking into this so please no criticism. I currently have an online business and looking to move to a brick and mortar store.
I am looking to start a self service dog wash and pet boutique for myself. I am needing about 1500 sq feet for myself. But I would like to purchase a building on my own and lease out the remaining space. I do not have experience in this. I am wondering how much I would need to put down and if anyone ever loans to someone like me. There is currently a downtown space available for 325000.00 I think I could get them down to 300,000 to sell. It is over 3000 sq ft. I was thinking if I lease out the other half then I could use half. I would have to do some upgrades to this building probably costing 30,000.00 . I know most of you seem very experienced on these loans and buying and selling but where do you go when you are just starting out? Is it better to buy an existing building or to build on your own? Also, how hard is it to get a loan for this? I would appreciate any help.

where do you go when you are just starting out?

You need to go talk to your local SCORE chapter or sit down with a friend that runs his/her own business.


Is it better to buy an existing building or to build on your own?

It is better to rent when you are starting out.


Also, how hard is it to get a loan for this?

It depends on how much money you have to start with. A $300M building purchase will require about $60,000 in equity. Without getting into renovations or working capital for a startup.

Assuming you mean 2 units with your business going in one of the units. Build vs buy depends on you needs and how much cash you have. Answer the following (in PM if you dont wanna post) and i can give you a reco?

- Whats you credit like?
- What kind of business are you running online and how is it related to the brick & mortar store? *
- Is it making a profit and how much? *
- How much do you have in $$ to put down?
- Have you allocated $$ for the equipment, sinks etc for your business?
- Whats the main source of will be the main source of income to pay the mortgage?

* If you business is a new idea, keep important/intricate details private and off the board.