What would you do? Any advice?
so I have this deal, it looks great. commercial Property in Denver. it is a warehouse with an existing tenant. the business is a legal grow oporation. the asking price is 1,025,000. the monthly lease is $12,000. total monthly estimated clear profit is $3,450/ month. I thought I had a Private lender lined up at 100%, but he was a scam. It all looked good until he insisted on an origination fee up front of 1%. I refused to pay it except to a title company. when he insisted there was a 100% money back guarantee and he needed it to process the loan, I walked. Origination fees and other
fees are paid at close or rolled into the loan. Anything else is likely a scam.
the owner is still interested so I am asking my fellow investors, if you only had $10,000 for this, what would you do?
Thanks,
Chad Bilstein
Buyvon Investments LLC