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Updated almost 8 years ago on . Most recent reply

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14
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1
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Bryan Hudspeth
  • Plainview, TX
1
Votes |
14
Posts

Need advice on an exit strategy for a commercial property

Bryan Hudspeth
  • Plainview, TX
Posted

Hello BP community,

I'm looking for some advice from any commercial investors out there that may be able to help me with a creative EXIT strategy for a restaurant business.  

My family has a commercial property / restaurant that we purchased about 7 years ago thru seller financing.  Since then, we have closed the business, and had several other hardships that have made it difficult to be able to make the monthly payments to the seller.  We have the property listed for sale with a local realtor, but have not had any luck getting the property sold in the last year.

We have quite a bit of equity that we are not willing to just let the owner take the building back, and lose everything, but unless a buyer comes along soon, I don't know how we will make the monthly payments.

Are there any investors out there that would have any creative strategies to get out of the property, partner with someone, or anything that would help us get out of the payments without losing our equity.

Any good FREE listing services that perhaps our realtor is not using.  

Any help is greatly appreciated!!!!   Thanks so much!!

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