I have come across a proposition and am not sure where to turn… I deal mostly with residential and had a friend ask me for help and this is outside my network when it comes to this size of money needed. This is a company that has a building located in Georgia that is paid for (free and clear). The taxes on the building from last year show a value of $1,272,200.
The company would like to sell the building for 85% L.T.V. (certified appraisal - not off of the tax records) and pre-pay the rent for 2 years by either reducing the sales price further, writing a check upon the completion of the sale, or making the monthly rent payments.
Where do I begin to look for investors that could work this deal? Does anyone have any ideas? Thanks for any help anyone can provide.
Couple of things come to mind:
www.nuwireinvestor.com has a “how to” article called “How to Create a Commercial Investor Buyers List” or something like that, it would be worth your time to head over to that site, read the article to get things going.
Does the seller of the building want to retain use of the building, ie do they want to lease it back? if so, you could propose that the seller finance the purchase for a period of time (12-24 months?) and then have them NNN lease the property back from you. then you’d have to finance out of their note at the end of the lease period, or sell it off to another investor. Its a good way for you (or someone) to get into a commercial property with little or no money down AND have little work to do on the investment since the NNN lease puts all the maintenance burden on the lessee.
Do a google search for “NNN lease-back” and you’ll get a lot of info on how these type of deals generally work.
I might have a buyer for this property can you send me the information?