Commercial Investing in Richmond, Virginia

[Jordan Scroggins]

Investment Info:

Other commercial investment investment.

Purchase price: $715,000
Cash invested: $11,000

4 Unit Building that we are adding another unit to and renovating the rest of the building. Previous owner held building for over 40 years. Mixed Use Building in a prime district in Virginia's capital.

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

My family and I wanted to make an impact bigger than just buying a piece of real estate. This is a chance for us to breathe new life into this corner in The Fan District.

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

I found this deal on the MLS. We negotiated 300,000 in seller financing. In the beginning, the seller was not interested in seller financing but time went by and the price continued to drop.