How can I buy this property ?
(Back story)
I am set to partner with a local (CT) hair salon owner who has been a tenant for 20 years. In conversation she mentioned that the owners were trying to sell the property but the deal has fell through. I found an agent that confirmed.
I figured we could be comfortable renovating the salon if we owned the building. It would be money better spent plus there are 3 apartment above the salon so that would be additional income.
The asking price is 289k and it’s on a Main Street in the city
The salon owner has said that the property owner offered her the first option to buy but she isn’t in position to so she never pursued. Neither am I exactly (my credit utilization is high currently leveraged in my marketing company)
The property owners live in Greece and the property is poorly managed due to distance I suppose.
So my question is how can I buy this property?
I need creative ways! Can a form a group of investors to come up with a down payment? Do I need to start a business to purchase it under? Should I go through the salon owner to reach the property owners to see if they are interested in a private deal where we give them a down payment and pay the property off over time directly to them. (Since they are having a hard time selling it seems) I need ideas guys.
Thanks !