Updated over 6 years ago on . Most recent reply
Multi Unit Commercial Deal
Investment Info:
Retail commercial investment investment in Pembroke.
Purchase price: $119,000
Cash invested: $12,000
I purchased a 3 unit cammercial property with 2 units occupied. Then partner with a established business to open a second location in the 3rd (store front) space.
What made you interested in investing in this type of deal?
I was looking for a location to open a second location for a business partnership.
How did you find this deal and how did you negotiate it?
This was a off the market deal that was initially for rent but I saw it as a potential opportunity.
How did you finance this deal?
Owner financing
How did you add value to the deal?
Changing the out ward appearance by making it look more commercial. Painting the exterior, landscaping, replacing the sign, ext. On the inside we made defined every space, made it more functional, replaced floors, painted, ext.
What was the outcome?
We had a successful grand opening. Tenants are very happy with the improvements.
Lessons learned? Challenges?
Have a very clear understanding on compensation before you start working on even the laborer level.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a licensed Real Estate Agent!