From gut to strut 5 months
Investment Info:
Retail commercial investment investment.
Purchase price: $100
Cash invested: $200,000
Purchased on land contract 2017
What made you interested in investing in this type of deal?
Small pockets at the time😅
How did you find this deal and how did you negotiate it?
I called a Realtor and explained my situation, goal, dream and desire. He told the seller and they agreed to give me a chance.
How did you finance this deal?
$10,000.00 down, 5 years to pay it off.
How did you add value to the deal?
I think I added value by being very genuine and honest about every intention I had with the property. I was able to gain the trust of the realtor and the property owner. They believed me I was sincere.
What was the outcome?
Renovated the property in five months and began to work, and they’re running a gym / spin studio, and a hair salon, and paid the building off within less than three years.
Lessons learned? Challenges?
If you stay focused, you can make a thing happen. But you must not flinch!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes
