Need Help Structuring A Deal In CA
I have a vacant property that I am trying to purchase but I am not sure the best way to structure it. Does anyone have any experience with deals like this?
Oh by the way I am getting it at 50% of its value plus the inventory.
what "inventory" are you getting from vacant land?
A lot more details are required to intelligently comment.
e.g.
are you financing
is subject to an option
paying cash?
Perhaps you should read before you comment.
I said property never said it was land. It is a vacant building I am trying to purchase at 50% of its value along with the inventory in the warehouse. It was a furniture store but owner is retired and closed the store.
Property is worth 2 million and I am buying it for 1 million. Because it is no longer operating as owner occupied and I would like to continue operating it as a furniture store if possible.
For lending purposes it is vacant so I am looking to see HOW I can structure it to present to a lender or investor.
_________________
Keisha Gutierrez,
Perhaps you should read the Forum Rules about posting since I just deleted your information where you were breaking the rules in your signature.
John $Cash$ Locke
TCI Moderator[ Edited by JohnLocke on Date 11/11/2008 ]
"Perhaps you should read before you comment."
Perhaps you should not get testy with someone who has 3500 post. You certainly will not get the info you need with that type of response when someone trys to help.
Thanks for your help.
Quote:
On 2008-11-11 23:42, rglover548 wrote:
"Perhaps you should read before you comment."
Perhaps you should not get testy with someone who has 3500 post. You certainly will not get the info you need with that type of response when someone trys to help.
I will look into the retailer big box idea though. I never thought about that.
Thanks!
how large and where is the store.
I am working w/ a "bigger" box company looking for additional locations.
The property is located in national city California. The building is 15,000 square feet.
It is listed on Loopnet. www.com.I am not sure if I can post the listing id here . Anyway, it is 15839795
This is too small for the client I am working with.
thanks.
I did see some foreclosure prevention or note purchase financing, but it seemed to be VERY expensive. like 5-pts and 15%.
Which was too expensive for my taste.
Yep. That just about sums up the hard money loan we just closed on. I agree .. very expensive.