When looking to buy a 20K$ lot and fell on a 4.4M lot

[Mathieu Gagnon]

Investment Info:

commercial investment investment in Granby.

Purchase price: $1
Cash invested: $1
Sale price: $4,400,000

This was one of the only big commercial lots available in the Granby, Qc area.
This was sold by the owner.
I was able to convince them to represent the transaction.
Found a buyer in two days.
Finally sold this fantastic location to the ZOO!

Happy ending for both buyer and seller.
In 3 months the entire deal was wrapped.

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

Lots are easy to manage.
I'm working with an entrepreneur who builds houses.
We are actively looking for vacant lots.

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

I was looking to purchase something at the cost of 20K ish.
I'm always looking for other opportunities for the investors surrounding me.
So, I contacted this seller and it turned out my investors were not interested in purchasing this lot.
I then agree with the seller to represent them on a larger scale.

How did you finance this deal?

N/A

How did you add value to the deal?

By focusing on its location.
Approaching real estate corporations that have supermarket, malls, banks, as clients.

What was the outcome?

A commission of 132K

Lessons learned? Challenges?

Action!
Move forward and life will help you find what you are fit for.
When you find it, Just go for it!

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

Yes.
I needed to work with a friend who is a commercial broker for this deal.
It gave me the kick in the butt to go and get my commercial (in process) broker licence and the residential one (done in a month and a half).