Investment, liquor store

[Sonia Hodgin]

Investment Info:

Retail buy & hold investment in Pueblo.

Cash invested: $268,000

1,700,000 revenue liquor store, recently renovated and updated in new design and technology. Ready for a new look, new name and better products!

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

1,700,000 annual revenue, free standing building with its own parking lot, high in demand location.

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

I found it in Nevada at a trade convention.

How did you finance this deal?

Loan

How did you add value to the deal?

Loan, remodel of the whole property, stripped to the bone.

What was the outcome?

Soon to open.

Lessons learned? Challenges?

Lots of challenges. A scam company of pavement, guy looking to make a buck. So cost more to not only start over but remove the terrible layers. So many claim they have a license but most don’t. Lots had terrible contract and businesses, But the rest like structural Engineer and planner, inspectors, electrician, large paving company, roofer (new commercial roof), plumbing and the rest came together as soon as they had to follow structure of a plan and permits. That took care of the fakes!

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

No