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.
Commercial Real Estate Investing
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 almost 10 years ago,

User Stats

2
Posts
0
Votes
Jeff A.
  • Farmington, MI
0
Votes |
2
Posts

How can I buy the building I have my medical office in?

Jeff A.
  • Farmington, MI
Posted

I lease space in this multi-tenant fully occupied office building and have the first right of refusal whenever it is put up for sale. However, the original owner could not keep up with his loan payments and passed on the 'deed in lieu' to the bank. The bank in turn sold the note to a real estate investor recently. The new note holder plans to foreclose/auction the property soon and wants to know if I am interested to buy. I am interested but not sure what my options are to buy this property. I guess my questions are:

1. What are some creative financing methods to buy this property?

2. What are my negotiating options to get it at a good price?

3. At what stage of foreclosure/auction shall I put my bid in?

4. Can I get a loan against the building and its tenancy (one being my established practice+other lessee good for next three years)?

Any other ideas will be really helpful as well.

Thank you in advance!

Loading replies...