Commerical Retail Center Flipped with no money down!

[John Sungjae Park]

Investment Info:

commercial investment investment in Northglenn.

Purchase price: $1,000,000
Sale price: $4,225,000

39,495 sqft shopping mall purchased for $1,000,000 and sold for $4,225,000 in 4.5 years of holding and renovating.

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

It was a great foreclosure deal!

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

I found this deal through a REO attorney friend.

How did you finance this deal?

Through my personal mentor and via local bank.

How did you add value to the deal?

We took it from 35% leased to 90% leased property and added new roof and T.I.'s.

What was the outcome?

All in all, the investors netted around $1.7 million.

Lessons learned? Challenges?

Finding the right deal is more important than having the capital.

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

Eric Barnett, president of International Bank (Southlands, CO).