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Updated over 2 years ago, 05/31/2022

User Stats

16
Posts
8
Votes
Alex L.
Pro Member
  • Investor
  • Minneapolis
8
Votes |
16
Posts

In a Pickle - Looking for Advice

Alex L.
Pro Member
  • Investor
  • Minneapolis
Posted

Myself and several partners invested in a piece of commercial real estate + business to operate from this real estate. The hired GC is awful and has rung up the bill well beyond the Loans we have available to build the thing out. Meaning we will shortly run out of money and need to find more. Either via a better appraisal and more from the bank or private investors. However, we are likely putting the building underwater by continuing. The business operations will offer generous returns, but having the real estate underwater isn't good. We could stop construction and try to sell or lease it. Construction is 75% complete... What other options are we not thinking of?

  • Alex L.
  • Loading replies...