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Updated over 11 years ago on . Most recent reply

Account Closed
  • Real Estate Investor
  • Alabama
1
Votes |
40
Posts

Want opinions on a unique situation.

Account Closed
  • Real Estate Investor
  • Alabama
Posted

Hi, I have a unique situation that I feel I need opinions from people more seasoned in real estate & life than I. To get started I'm 23 my father passed away last year. His commercial real estate developer buddy owed him 250k. He has offered to pay that to myself in the form of 2,500 a month for ten years or trade me two commercial buildings. One is in Bronson MI the other in Blackhawk SD. Both are leased one has 3 years left the other company just executed a 10 year extension. I would be taking on 800,000 in debt for both buildings with him deducting the 250k off the total purchase price of 1 million. These properties will net cash flow around $2,500 a month. Once they paid off they would be cash flowing $7,000.00 - $9,000 a month. Myself I'm leaning towards taking the 2,500 a month but wanted to see what others might suggest? Thanks

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