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dancingmonkey · 12-03-2008, 06:49 PM

My wife and I are about to relocate and open a restaurant.
The building we are buying has an apartment upstairs where we'll live. The business space is not a restaurant right now. The cost of the building and the cost to build it out are about the same.
We could pay cash for the building and then use the building as collateral for the construction loan. To buy the building outright we'll use most of our available cash but the thought of not having a mortgage payment and only paying down on the construction loan is alluring to me.
it would also be potent inspiration to get the joint open and creating income.
i tend to be a chance taker but is this too risky?

12-03-2008, 06:49 PM	#1 (permalink)
dancingmonkey Junior Member Join Date: Nov 2008 Posts: 2 User Status: Offline	New Restaurant My wife and I are about to relocate and open a restaurant. The building we are buying has an apartment upstairs where we'll live. The business space is not a restaurant right now. The cost of the building and the cost to build it out are about the same. We could pay cash for the building and then use the building as collateral for the construction loan. To buy the building outright we'll use most of our available cash but the thought of not having a mortgage payment and only paying down on the construction loan is alluring to me. it would also be potent inspiration to get the joint open and creating income. i tend to be a chance taker but is this too risky?