Sounds cool, and it sounds like they won't have a problem finding renters.
What will the monthly payments be on that loan? The Red and Black must be on the hook for them, and they have to be significantly more than the $1,825 in new rent income, right?
$365 for a "small office" and sharing a bathroom with four other people? Meh, you can find any number of generic house-shares for that amount.
Was there an open application process for the available? Is the Red and Black Cafe complying with the relevant sections of the 1968 Fair Housing Act as administered by HUD?
I'll be honest, there's a part of me that wants to take a look at these spaces and see what's up.
What will the monthly payments be on that loan? The Red and Black must be on the hook for them, and they have to be significantly more than the $1,825 in new rent income, right?
Was there an open application process for the available? Is the Red and Black Cafe complying with the relevant sections of the 1968 Fair Housing Act as administered by HUD?
I'll be honest, there's a part of me that wants to take a look at these spaces and see what's up.