How To Find Deals On Buildings?
I have been working in residential investing for a while now, and im looking to step up to something a little more substantial. my market is really hot and most of the big buildings in the down town area sell without notice. in residential real estate i am the one buying the houses before they hit the market, but it seems like buildings are a completly different game. it seems you have to be connected or something to be able to get a deal on one, if they even sell. there arent many large buildings in the down town area its actually rather small but condensed. should i get signs that say "we buy buildings" and tack them up all over or what. send letters to all the building owners? any advice would be helpfull.
Most buildings & other commercial RE are marketed through commercial brokers who will not put a big for sale sign in front of the property for numerous reasons. Getting in contact with some local commercial brokerages would be a good place to start.
good luck...
Yes, he can pull out 600k, you can do this two ways (1) he can allow a friend or someone do a PA (Purchase Agreement) with a assignment clause. He then can assign the PA to the actual buyer charging him a 600k assignment fee that the seller will pay and it will be reflected on the sellers side of the HUD. (2) He can up the sale price about that much and the seller can give repair and/or gift allowance. Also you can invoice the seller that amount as a charge on the hud