Updated almost 5 years ago on . Most recent reply
Finding commercial real estate deals
Looking for recommendations on finding below market commercial real estate in my market? (Besides Loopnet and Costar). I've bought at auction before and have also bought REO but that was during the down turn several years ago and there isn't much of that left. What are some of the methods that have worked for you in recent years?
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#1 Personal Finance Contributor
- Developer
Day Care.
A. Contact "Schools for Sale, Inc" they are a neighbor of yours in Florida. Either facilities, or business and facilities are for sale. I would check out both. They either own the facilities or investors like you own the buildings and lease. Talked with the realtor and child care providers are about to start "Tapping" out in the next 2 months, more will be coming to market.
B. Contact School Districts. Most have old school properties for sale. A contractor of mine bought two of these and converted to high cash flowing apartment complexes. His wife took the Gym, cafeteria and parking to make reception and event centers. She had 26 events booked in her first year before Covid hit.
These will be depressed since these are similar investment types coming to the market at the same type. A lot of investors won't visualize how this fits their portfolio. And a lot of investors will keep hammering the SFH/MFH and not look at something that is not identified as SFH/MFH.
Good luck hunting.