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Updated over 6 years ago on . Most recent reply

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47
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2
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Dan Wells
2
Votes |
47
Posts

BIG deal, Blown? Advise please!

Dan Wells
Posted

So I had a verbal agreement  on a property, we have been good friends for 2 years now, It is a piece of commercial property that is on a main freeway in TX. I have done other seamless business deals with him (bought cars from him) 

As of lately I realized id be interested in this property, I made him an offer, and also offered for him to lease it back from he while he clears out ALOT of stuff, its 4 acres with 2 warehouses. 

He owns it outright, and is in his 70's, he can't keep up with the maintenance and needs help selling off things, I also included this in our deal. help selling off items and Clean the place up. 

OK So guys, I need a creative win win idea to get this deal back on the table, he says he wants to now keep it for a few years while he retires. I know its not true because the property is just a headache for him, and he does need help. 

I think leasing it back for only my mortgage payment is a turn off for him about 3800 per mo. no profit! 

Owner finance maybe? 

let me know! 

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