Updated post for the W! 19,657.6% profit!

Investment Info:

Office Space commercial investment investment in Anderson.

My partner & I have acquired the tallest building in Madison County, Indiana. Now known as Anderson Executive Tower. We continue to adapt and blaze trails with ideas that have been around but have yet to come to Anderson. We are developing condos, restaurants, doing a mix a long term and short term office space as well as virtual offices. If you ever need a place to work in the Greater Indianapolis area shoot me a message. Special treatment for the BP family.

What made you interested in investing in this type of deal?

My partner always leans into a challenge and I never shy away from one. We came, we saw, we conquered!

How did you find this deal and how did you negotiate it?

Picked up at tax sale. (Crazy story behind this that I can't put on the internet)

How did you finance this deal?

Cash

How did you add value to the deal?

By creating hype around the building and generating buzz to attract attention. We were able to utilize that attention to revitalize interest in an otherwise dead property. Of course we did some actual value add but it would have been wasted money if not for the above. The city was seen as a decaying metropolis full of poverty and lack of businesses due to its unorganized leadership. (Unorganized is a compliment)

What was the outcome?

Sold at auction in August of 2024 for a profit of 19,657.6% profit. That's not a typo. We purchased another building in the same area with the proceeds and it going to auction in 2 weeks with a 47.9% cash on cash return for the buyer at the reserve price and its not even 50% occupied yet! We were able to secure some great anchor tenants so far.

Lessons learned? Challenges?

SOOO MANY! We learned how to remove an easement. Not an easy feat. We learned how to make a dilapidated building warrantable for the banks to make them eligible for pre-sale! (If you need this type of help message me) We learned so much about elevators and chillers and systems engineers and on an on. We learned a lot about architecture when designing plans for condos. Learned about high value investment. We learned the administration of an entire city couldn't stop us from winning!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Nope. I was formerly a real estate agent and had/have no need for a Realtor. Most of them do NOTHING to help sell the property anyway they just put it on the MLS and wait. Only bring people on-board who have a desire to solve problems. Realtors aren't allowed to tell you the things you want to know most. The top selling Realtors have a large buyer pool and that's nice, but they don't do anything either.