Asked by Newbie
Hi, I am considering buying a commercial property for investment. (preference is retail). My annual income is 73K + 12K of rental income. I am servicing my housing installment of $1500 a month (no other loans). I have 100K cash on hand for investment. As I am a newbie in commercial property. I would like advice in these areas: 1) What is my budget, as in the loan I can get? 2) Is my budget sufficient to get something small? 3) What are the taxes, duty, etc that I must pay when buying commercial property? 4) What are the regulations involving 2nd property? Thank you.
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