From gut to strut 5 months

[Tony Ethridge]

Investment Info:

Retail commercial investment investment.

Purchase price: $100
Cash invested: $200,000

Purchased on land contract 2017

What made you interested in investing in this type of deal?

Small pockets at the time😅

How did you find this deal and how did you negotiate it?

I called a Realtor and explained my situation, goal, dream and desire. He told the seller and they agreed to give me a chance.

How did you finance this deal?

$10,000.00 down, 5 years to pay it off.

How did you add value to the deal?

I think I added value by being very genuine and honest about every intention I had with the property. I was able to gain the trust of the realtor and the property owner. They believed me I was sincere.

What was the outcome?

Renovated the property in five months and began to work, and they’re running a gym / spin studio, and a hair salon, and paid the building off within less than three years.

Lessons learned? Challenges?

If you stay focused, you can make a thing happen. But you must not flinch!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes