All Forum Posts by: Jason Hudson

Forgot to mention I am doing this as all cash offer with contingency that they remove the current tenant who has no lease and not paying rent.. Just a TON of stuff on property 

Put an offer on this property of 608k which the bank owned property is saying they have multiple offers now want closer to asking price ($699k) 

Property is in opportunity zone and needs a good amount of work - have gone over this with my contractor. Wanted to see what some other skilled investors thought on these numbers. 4 units total of just under 13,000 square feet of warehouses in area renting for $11 sq/ft and ARV of $118 per sq ft for sale

Sorry - meant to say the bank came back to our 608k offer saying they had multiple offers now asking for everyone to put a "best offer" forward on this 

Trying to figure out the best way to put an offer together on this warehouse lot as a cash buyer to a bank owned warehouse portfolio.

It is bank owned .9 acres of commercial land with 4 separate warehouses totaling just under 13,000 sq ft. in an opportunity zone. 400 feet away a $88 million dollar real estate project just got approved by the city as well. 

Asking price was 699k we put in an offer of 608k all cash with them removing the current tenant (who does not have a lease and is not paying rent since this is a bank owned foreclosure) 

ARV Market rents next door: $11 sq ft

ARV Sale comps @ $118 sq ft

Renovation cost: $155,000

Taxes: Up to date