| Did you know that you can turn a dusty old | | | | maker. |
| warehouse into a good source of real estate income? | | | | With the right kind of property in a sensible location and |
| How is this possible? Typically, the real estate wealth | | | | some rehab, a warehouse can practically "sell itself." |
| builder uses borrowed money to buy the warehouse | | | | We've visited three former warehouse or related sites |
| property at low cost at an auction or as a distressed | | | | where the business is booming every day. These |
| property. | | | | places were an old brick warehouse turned into a |
| At any given time, warehouses are available as | | | | restaurant/bar, a historic postal mail building turned into |
| pre-foreclosures, foreclosures and for short sales. | | | | a highly successful retail shopping center, and a World |
| Some warehouse facilities are of historical interest and | | | | War II factory turned into an art gallery. |
| can be purchased through historical associations, | | | | If you're interested in buying income real estate, a |
| specialty realtors, and government agencies, for little, or | | | | warehouse facility may be worth checking into. Such |
| no, money down. Warehouse facilities can be very | | | | unusual properties can offer advantages over |
| reasonably priced because owners want to unload | | | | traditional income properties such as apartment |
| them after they've made changes to their business. | | | | buildings. Potential advantages of these kinds of |
| If you buy a warehouse, you might turn the property | | | | properties include: |
| into a uniquely interesting and attention-getting site, | | | | - Warehouse facilities can be very reasonably priced. |
| serving needs of tourists or business people and | | | | At any given time, warehouses are available as |
| residents in the area. Well-kept but rustic warehouse | | | | pre-foreclosures, foreclosures and short sales. |
| facilities often have special appeal and can be | | | | - You will typically pay less borrowed money for such |
| retrofitted into upscale restaurants, taverns, retail | | | | a property than you will for an apartment building, yet it |
| shops, art galleries, amusement centers and many | | | | can have great income-producing potential. |
| other types of attractions. | | | | - You may be entitled to special discounts or grants |
| Another option is to rent the property to an individual or | | | | which state and local governments provide to owners |
| business that can develop the property into a money | | | | of historic property. |