I received a call from a person today that I have worked with before wholesaling residential real estate, about a commercial building that they have under contract for right at the county assessed value. That is problem number one, (if it was my lead I would have worked hard to get it under the assess value, since I have never done a commercial deal). So they have no idea of where to start to find a buyer for it. I told them before I put any time into this they got to have the paperwork in place, but I knew of an investor that I was planning on showing a place next week that my former broker is trying to wholesale which is a 4 level commercial building which he mention he felt was bigger than what he needs. So, my first question is how do I find out if they have a deal at all since they have the contract at the assess value, second if my only potential buyer is not interested in it, how do I go about finding a developer or another investor that would be interested in the property?
@John Britt You could market the property on BP, social media and locally. I would also look at getting out and shopping the deal at local meet ups. go with your gut on this one though if you feel like it might not be a real deal or the guy isnt 100% transparent, you might want to walk away.
@Vaughn Smith Thank you.
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