Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 6 years ago,

User Stats

47
Posts
2
Votes
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! 

Loading replies...