All Forum Posts by: Chad Black

Guys/Gals- I have 40 acres of primo land that sits on a major intersection here where I live. My question is to the developers out there. On what would be my "Hard Corner" I have a small sliver of a 100 yr flood plain that goes into it. This would be a GREAT site for a CVS, given walgreens is right down the street! What can I do to correct this? Add dirt, retaining walls, retention ponds????? Thanks.

If i understand you correctly you are speaking of what is known as a "Double Closing". In residential properties most lenders want to see typically a 6month to 24 month "Chain of Title" on previous owners. In residential, if you buy low and sell high, just be prepared to explain the increased sales price to the new buyers lender, unless its cash. In commercial "Double Closing" are MUCH easier. Take point. If a seller (A) has a property he MUST SELL, or I find a great price on, then I (B) will ask him to sign a "Option to Purchase" Contract for our preset price, lets say 4m. He is not obligated to list with me, and can still sell on his own, but I would have first right of refusal to that sale. Now since I also have a vested interest in this property I can now market it myself at what I would like to make on this property. So lets say I find a buyer (c) who feels he is getting a GREAT DEAL himself of a sales price of 5m, and rights a contract. I have two options at closing, if I dont want Seller (A) to know I am flipping the property the I might bring a quick note or hard money loan to pay, or cash depending on the price. Or, if I notify A of what I am doing, I can use C money/loan to cover A, and pocket the difference. I hope that helped :violin:

Oklahoma is the place to buy in both commerical and income producing residential real estate. I deal with a wide varity of Office Buildings, Apartments, Raw and Developable land, and large income producing residential packages (multiple homes). I think that you would be VERY surprised at how far you dollar would go here. Contact me at your convience if you would like more info.

Chad M Black

I verbal offer is good to see what price can "Get er done", but holds NO stand if a another written offer comes through.

Most are done thru a large corporation real estate company. So they are delegated that way. Working with lenders is not all that great though. Sure, you will have a steady supply of listings, but the will ask you to drop your commision up front, and if a buyer comes in lower than expected on a purhcase price, the selling agent is typically the first comm to get cut. Just from previous exp. though.

To the board. I would like to take this time to introduce myself. My name is Chad M. Black. I opperate several companies within the state of Oklahoma that handle all avenues of Real Estate. Oklahoma is the place to buy in both commerical and income producing residential real estate. I deal with a wide varity of Office Buildings, Apartments, Raw and Developable land, and large income producing residential packages (multiple homes). I think that you would be VERY surprised at how far you dollar would go here. Contact me at your convience if you would like more info.

Chad M Black
CEO Midas Investments
Worx Commerical
Homeworx Real Estate
Financial Concepts Mortgage