@LukeStrickland,
I was 100% kidding with my response.
Commercial property loans tend to be structured very differently than personal home loans. Some do have longer periods of payment, I’ve seen some with terms of 20 years. But, they tend to be amortized loans far beyond the payment period. So say we made an offer on the property we are talking about, odds are we would get a 5 to 7 year loan that is amortized over say 30 years. So we would make payments of the same amount as if we were paying the loan over 30 years, but we would have a very large balloon payment of the remaining loan at the end of the term of the 5 to 7 year loan.
If you want some fun reading, here is an article I found on google that reinforces my experience.
That all said, this is one of those places that a city council can often stick their head in and help out. As soon as the Garland Makerspace (currently planned to be funded by Garland) is up and running, we will have a period where other cities in our area will want in on the action of a city sponsored makerspace. Because when it comes to politics, it is all just a dick measuring contest between the different cities. At that point the DMS will be a prime option for a city wanting a jewel in their crown. As we are already working and making revenue, one of the largest makerspaces in the country, and are looking to grow. This might hit in perfect time with the end of our current 2 year lease extension. As I would guess it will take garland makerspace about a year and a half to really become something that starts to compete with us. But, it will take a lot of luck to even get there, as cities look at us under the idea that we can fit into their system like a library. We are not that. The library is a strict service to the community and effectively treats everyone as a customer. Makespaces just don’t work that way at our cost level.