All Forum Posts by: Gary Tucker

Investment Info:

Commercial Property investment with interior and exterior renovations. Also bought adjacent lot for parking.

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

Location. Property is situated on busy highway with easy parking access.

How did you finance this deal?

Negotiated a 20% down with seller financing for 5 yrs, then a 15 yr commercial cash out refi with local bank.

What was the outcome?

Property is getting 25% annual ROI

Lessons learned? Challenges?

Financing for bar/restaurant properties can be difficult.

Investment Info:

Other commercial investment

3 story, 25k SF commercial building with freight elevator and 2 first floor retail/office spaces on main highway. Currently in renovation.

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

Off-market property in same block as current commercial property. This building has potential to have multiple revenue streams from storage, apartments, retail, or office space. I have already had offers for storage and office rental.

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

I had talked with the building owner before about their plans when they purchased it years prior. Because the building needed so much work I felt the owner would sell for something above their purchase price.

How did you finance this deal?

This project is low purchase-high repair so it was a cash sale. When first floor is leased I will tap into equity with a cash out refi.

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

I'm and MLO so pretty biased towards my company for financing. I will suggest though to find reputable contractors. One overlooked step in demo is finding junk haul company that is reliable with drop-off and pick-up.