All Forum Posts by: Dan Wells

I am in TX, I want to lock in a commercial property with a private seller, he doesn't want to go the traditional route of selling outright just yet, due to the property having items of value that need to be sold first. He estimates it will take about 2 years to do so. He doesn't want to do a lease back either, or owner finance. 

He told me that he promises to sell it to me for our agreed price once he clears out his items. lease with option to buy only last so long in Texas so not an option

So what other options do I have that will hold up in a legal setting? Contract notarized? Opinions please. 

Thoughts on giving up mineral rights? seller just sprung this upon me, property is 5 acres, Does this de-value it? Should I say no 

Hi ,thank for the reply, 450k purchase price, 3k per mo, no interest, no money down. He gets to occupy the property as well as I do and that time allows for him to clear a bunch of cars out and sell some things. it could be before 3 years that he leaves. I can still develop the property but can't kick him out for 3 years. 

My question is, would you buy a 450k property owner financed with nothing down and no interest, the the value is 650k currently and rising, but couldn't really utilize the property for 3 years or lease it out.

Hello, This is my first big deal, tell me If I am doing OK on this one.

Owner financing a property, nothing down, and no interest for $450k Balloon in 4 years. 

Property is on the low end valued at around $650k with frontage on main freeway, high growth area.

Catch: He stays for 4 years, I can utilize the property as well, but he is also there. Worth it

Balloon in 3 years also. 

Hello, This is my first big deal, tell me If I am doing OK on this one. 

Owner financing a property, nothing down, and no interest for $450k 

Property is on the low end valued at around $650k with frontage on main freeway, high growth area. 

Catch: He stays for 3 years, I can utilize the property as well, but he is also there. Worth it? 

Thanks!

Dan.

I made an offer and he seemed very pleased, and also included in the offer for me to help him clear out his stuff and lease the property back to him for only my expenses. He says he thinks his reason for keeping it is to have something to do during his retirement years. the place is a mess, and he has a great shop at his home, and another vacation home in California, he has money. Im thinking the pressure of his clearing stuff out is what is doing it. 

If we do owner finance, Seems this way he retains some sort of ownership, as well as he is getting paid each month. Might make his feel warm and fuzzy, might get a lower price this way also due to the fact that I won't be able to utilize the property right away. 

Thanks

So I had a verbal agreement  on a property, we have been good friends for 2 years now, It is a piece of commercial property that is on a main freeway in TX. I have done other seamless business deals with him (bought cars from him) 

As of lately I realized id be interested in this property, I made him an offer, and also offered for him to lease it back from he while he clears out ALOT of stuff, its 4 acres with 2 warehouses. 

He owns it outright, and is in his 70's, he can't keep up with the maintenance and needs help selling off things, I also included this in our deal. help selling off items and Clean the place up. 

OK So guys, I need a creative win win idea to get this deal back on the table, he says he wants to now keep it for a few years while he retires. I know its not true because the property is just a headache for him, and he does need help. 

I think leasing it back for only my mortgage payment is a turn off for him about 3800 per mo. no profit! 

Owner finance maybe? 

let me know! 

Ive kept all of our conversations VIA email, and have a google street view image of the parking lot being installed with their sign on the property! They must have known obviously.