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Commercial Real Estate Investing

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Donnell Gardner
  • Tarpon Springs, FL
8
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17
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Question

Donnell Gardner
  • Tarpon Springs, FL
Posted Apr 13 2015, 19:04

So I came across this property. The owners seems motivated. He has this pretty big property at 6500 sq ft. Which includes a parking lot in the back. It looks like it had office spaces in the front part and I believe he said it was a cosmetics business in the back part of the property. It definitely needs work I noticed waters stains on the inside but he said the roof has been fixed about a year ago. I know I need to do my due diligence but he happened to mention that it had code liens on it. And that if I was willing to take care of it he would drop $50k of the price of $299k. And most likely would be willing to negotiate more. He told me to talk to the city and see if I could get the liens removed.

How would should I  handle this deal. What should be my next step if any? 

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