Owner Financed Property

[Lance Jorgenson]

Investment Info:

Industrial industrial investment investment in Salt Lake City.

Purchase price: $2,200,000
Cash invested: $5,000

33,000 sqft industrial bldg.

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

It is a bldg. that my company was currently renting and the owner offer us a killer deal we couldn't pass up. He sold it to us at a $600,000 off the market value

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

Was renting the bldg.

How did you finance this deal?

The owner is financing the deal at 1%

How did you add value to the deal?

Going to hold it and slowly increase rent and wait for the value to increase

What was the outcome?

Great additional to my portfolio

Lessons learned? Challenges?

Always to ready

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

Rad Dye CBRE