BiggerPockets

My father recently got a piece of commercial property through foreclosure. He has offered it to my wife and I to leverage into a larger home (if we cover his costs). It is a beautiful piece of property on the freeway with stunning views of Mt. Shasta.

Questions:
1. Is selling it a rational option in this market?
2. If so, what is the most effective way to get it in front of the right audience (Hotel Developer?)
3. Alternatively, is it reasonable to consider trading for a piece of commercial property (using as an entry point into commercial real estate)?

Thank you for your help & advice.

Kelly ....

Hello Will

Thank you for your reply. It is zoned C1, so could be used for most anything commercial; except school or church. Ultimately we would like to leverage into a home, so trying to figure out a way to extract value out (vs. keep). I like your idea of self-directed IRA owners; I had not thought of that. I do currently have it listed on Loopnet (free listing) ~ have not decided whether to pay the extra money to get broader exposure. The more I talk around, a "trade" is looking pretty challenging; for the reason you describe. In good times, the property would have sold very quickly. Obviously, if someone bought it they would not be able to get their money out quickly ~ they would likely have to buy it to add to their inventory with the intent of developing it someday (or selling it when the market comes back). Thank you again. Kelly ...