Hello everyone. I’m glad to be here. I’ve browsed here for a couple of months, after finding this forum doing research on wholesaling. I had cold feet and was reading as much as I can to stall actually doing anything! I think I’m ready to go and have been using the last couple of weeks finding phone numbers of prospects using “driving for dollars”. But haven’t started making phone calls yet. For me, making phone calls would be better than mailing post cards as I am working on limited funds.
However, I’m curious about something. While driving around, I see many vacant commercial properties. And they have no leasing or for sale signs. A former daycare, a nice size church across from my home that used to have a for sale sign but no longer. A former small office building, turned night club, that has been vacant for 3 months. A former beauty salon near a university that has overgrown hedges that has been vacant for at least a year – no sign. and many more.
Is it possible to capitalize off of these in any way? I know commercial property takes longer to sale. And many commercial agents specialize in a certain area and have pre-vetted leads. But for someone like me, is there a way to get in on vacant property like this? Anyone work commercial wholesale?
I would consider ‘options’ on the property…IF…you can re-purpose the property for another use that will assist in turning over the resale quickly…options have minimal risk and great rewards if you plan properly. Most commercial properties go vacant due to the change in markets for the business that was formerly operating in that building…check the market trends and find a need…then fill it by re-purposing the building…if you have the vision, then put a deposit as an option for a specific time, market for the new purpose…see what happens.
IF you win… it can be big…if you lose…not much at risk.
I am looking for somebody who had unfortunate experience of investing in commercial real estate, who was promised 8-10% yields but got nothing. Do you have any contacts? I want to write an article with such cases
Palmer L buying commercial property is subject to due diligence, no knowledgeable and experienced investor should ever fail to yield a minimum income on a property which had proper forensic analysis done on the property.
Your citing something that is an exception rather than the rule as the owner / buyer is the one responsible for the properties health overall, if a property management company fails to meet expectations discussed and put in writing at the time of a management agreement they should be replaced!
Now if your talking about “Securities” as stock shares or unit’s and performance yields were un-expectable low then a explanation and potential outside audit may need to be done to reveal issues or problems and insure that no issue’s exist!
But your searching for a dog that doesn’t hunt thinking that the owner / investor has little or no control or responsibility in controlling yields!