Hi everyone,I live in Hong Kong and just starting investing in Real Estate here.I have a very good lead, let me present it to you all.In a commercial building, the man own a office room high floor, he bought that office for investment for a year ago, he did not touch anything in the property and put it on the market for sale with a large markup.After a 9 months on the market he decided to lower the price, still after 4 month with the lower price no buyers.I then come in and ask the seller if he will consider owner finance on his property as he only have a small loan that is nearly paid.The owner said yes to owner financing and waiting for my offer.I have visited the property and understand why the landlord have not been able to rent or sale, the place was previously owned by a church, the all atmosphere and decoration is very much like a church... so really difficult to rent it as it is for office space or similar.

People at church.

They have a meet up in Reston and Falls Church.  

Christie does have the right idea in looking for the obscure place from other investors/ buyers, i did the same thing in PA, turned a single family Mennonite church into a 2 family college rental ( now have 8 rooms to rent) but it was in an area that was zoned for 2 family, i look for houses like that, it's value added when you do conversions like that.

Yes, many times and most have usually worked out.My parents felt the rentals they had were an extension of their gift back and their goal was offering people with hard lives a way to be more self sufficient, on top of gifting to their church.

@Fernando Ibarra,You might consider finding someone that speaks both, you might find someone through their friends and family or just within the community (there are a few Korean churches where I live).

I started at church, asking investors I knew there if I could buy lunch to pick their brain.

Hello everyone I am located in Hong Kong, I have a motivated seller ready for a lease option, here are the details (remember that here in hong kong properties are sky high, so numbers are very high for only few square meters...This is a commercial space in a building that was build in 1994, the building is looking good, it is located at the centre of tsim she tsui with is a very popular area for business and good restaurant all over.The office was previously used and as a " Church " and owner was the pastor, he then sold it to new landlord.The new landlord have bought this property for investment, and had the office space for sale for a year but had no luck selling it.He bought the property in October 2015 for 7.8 millions HKD, and tried to sell it for 9.3 millions HKDFor your reference 1 million HKD about 12,000 USDThe seller have 2 different loans on the property:- Loan number 1: loan balance is 2.450.000 HKD with monthly payment of 13,000 HKD all included- Loan number 2: loan balance is 340.000 HKD with monthly payment of 10,000 HKD all includedOffice space is 1216 square foot, and it is just one large space, as previously used as a church, the space need to be renewed and put up to date.The property was bought from previous owner in 1994 for 4,800,000 HKD and was sold to the present landlord at the price of 7,600,000 HKDComps in the same building:- Sold in 2015, floor 11, sold price: 9,759,750 HKD- Sold in 2014, floor 14, sold price: 9,088,750 HKD- Sold in 2013, floor 5, sold price: 8,479,625 HKDAlso have comps from 2010, where same properties sold for about 5 to 6 Millions HKD.Seller is motivated as he can not sell or rent the property for the following reasons:- Property need some work as the previous used was a church, so everything is painted and installed just like in a church.- property is on the 18 floor and lift only go up to the 17 floor, so people need to walk up the stairs to the last 18 floor.In the same building the same floor space is rented from 20,000 to 25,000 HKD per month.There is 2,500 HKD management fees monthly.We have presented to the seller the following offer:- Monthly payment for 15,000 HKD all included.- sell price 7,800,000 HKD- Length 10 yearsSeller accept leasing option but refuse price and length and offer the following:- Monthly payment 15,000 HKD + 2,500 HKD management fees- Sell price 8,600,000 HKD- Length 36 monthsThe bank (HSBC) valuation on the property is 8,600,000 HKD (i believe this is how seller get this sell price).My original idea for the exit strategy is as follow:Supposing to get the all floor for 20 years length and with our terms and at the price of 7,900,000 HKDWe will invest about 390,000 HKD to renew the office and transform the office into 21 small office space that will rent for 3,500 HKD per month, making a monthly income of 73,500 HKD (- vacancy and other expenses and 15,000 rental would give us a minimum monthly income of 50,000 HKDWith a 20 years lease option, will give us 240 month at 50,000 HKD per month = 12,000,000 HKDWe will them buy the property at the agreed price and keep the office space.But as seller do not agree with our prices and length, i am not very sure about this exit strategy...The goal will be to keep the property as i am mostly looking to hold on all the properties i can put under contract.I do not need quick cash, and more looking at building a long term growth.Could you please advise some other ideas that would make sense?

The meeting space would be at my church on Boyce Rd.

I love my job, so I'm not trying to quit, my motivation is to supplement retirement and to have more to contribute to church work.