TV Ads for Commercial Property Auctions - a buy signal or sign the end is near?
Last night I was watching television when an ad came on - in prime time - promoting a foreclosed/distressed Commercial Property Auction. “Who wants to by an empty Home Depot location … step right up”
I thought to myself, “This really is a sign the end is near - meaning it is seriously time to buy!” I have never seen anything like this before. Sure, the “no money down” guru crowd does a lot of work with TV… but that’s usually late night infomercials … and yes I do own a Carleton Sheets course from the 90’s.
Then today I saw the same ad in the Wednesday Wall Street Journal - a half page spread in “The Property Report”. That’s more like it.
Here’s the website for the auction. They have no less than 9 empty Home Depots to move.
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Comments (3)
Talk about bargains ... my previous post was about the Pontiac Silverdome that cost $24M to build in 1975 and sold for $850K last week. It is going to be ugly and ten years from now we will look at these as the days to make your fortune. My two cents, Dike
Dike Drummond, over 15 years ago
I read this as sellers getting more creative. But I am looking for them to get desperate. For example, come by my Home Depot location for $10,000 Down, no payments for 1 year and easy buying terms. That is desperate. We are heading there and this is just one more positive step to putting in a bottom going to be FUN
Michael Zuber, over 15 years ago
When Home Depots are closing down, you know that things aren't exactly "good," although for those of us who can see the opportunity, these challenging times are great for building up a portfolio. Crazy!
Joshua Dorkin, over 15 years ago