Multi-Family Owned by Bank

[Adam Curry]

Hey everyone, I'm tracking a vacant property owned by a bank out of Oklahoma. How would you suggest getting in contact with their asset manager? 

[Steve Vaughan]

I would try their loss mitigation dept.  I bought my first commercial apt bldg directly from a bank.  They wanted to get the asset on the correct side of their balance sheet. We closed (shockingly) on the last day of Q3.

They have to report non-performs every quarter and they raise their capital requirements.

I would ask them - if I can get this to be on the other side of your balance sheet (to an asset vs liability) for you by the end of Q3, what would it take for you to keep the financing for me? Then act nonchalant and say you'll get back to them.

Good luck @Adam Curry!