Houston, TX · Member since 2019 · 2 posts · 1 vote
I recently watched a podcast with Cherif Medawar and he talked about flipping vacant, single-tenant retail properties. His process seems easy (the devil is always in the details), and I was wondering if anyone had any experience with this strategy?
He sells a "coaching" program (of course) for the low price of $9,000, which is not in the budget right now.
Anyways, if anyone has any experience with this strategy, I would love to hear it.
Developer · Charlottesville, VA · Member since 2018 · 4k+ posts · 4k+ votes
7y
@Ian Wright yes this can be a good strategy and in fact you can do the same with any type of vacant commercial property. They key is the owner, the time of vacancy and days on market.
I haven’t heard his particular strategy but I’m sure it’s all about going in low on a vacant property that’s been on market for a while and flipping. I have used his on a number of commercial properties.
Houston, TX · Member since 2019 · 2 posts · 1 vote
7y
@Greg Dickerson could you possibly share some of the criteria that you use to select buildings? There are a few Youtube channels that make it seem as easy as going on LoopNet and finding vacant buildings, but I was wondering what selection criteria do you use when filtering through vacant buildings?
@Greg Dickerson could you possibly share some of the criteria that you use to select buildings? There are a few Youtube channels that make it seem as easy as going on LoopNet and finding vacant buildings, but I was wondering what selection criteria do you use when filtering through vacant buildings?
LoopNet can be a good resource. Also CREXI and other commercial brokers sites. Also driving around looking for vacant or run down buildings is a great way to find them as well. I look for properties that have been for sale for over 6 months and just make an offer where I need to be. Sometimes you have to follow up for years but it works.
Lender · Los Angeles, CA · Member since 2015 · 278 posts · 78 votes
5y
I went to a live 3-day training with Cherif, He provided us the same contracts he uses (purchase, lease, promissory note, etc), and an entire list of nationwide NNN tenants with corporate guarantees.