Updated over 3 years ago on . Most recent reply
Commercial real estate flip!
Investment Info:
Industrial commercial investment investment.
Purchase price: $750,000
Cash invested: $125,000
Sale price: $2,250,000
Purchase, remodel, fill, sell on cap rate.
What made you interested in investing in this type of deal?
I grew up doing commercial real estate. I am more comfortable doing this than houses.
How did you find this deal and how did you negotiate it?
I saw that they were no longer hiring and no cars so I did some research and had the property under contract in less than three days.
How did you finance this deal?
I used my uncle to set up a Joint Venture and then sold my shares to him.
How did you add value to the deal?
I played contractor, leasing rep, and sales rep.
What was the outcome?
Sold my shares to my uncle.
Lessons learned? Challenges?
Get everything in writing. I had a cash offer for more than what my part ended up being. To avoid legal I just sold out my shares.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not really
