Make $200,000 in 30 days!! - Buyer in place - 7%+ CAP in LA, CA

By
Real Estate Broker/Owner with Private-Money-Loan.com BRE#: 01849108

THIS DEAL JUST GOT WAY SWEETER!!!

It was on a 90-day clock, now it's less than 30 days

 

money raining down

 

Retail: Commercial space

Tenant Occupied

9080 SF building

Street Frontage

Escrow opened with buyer in place to take out at $1.4M

 

This is a great opportunity for people who like to make fast money. I have a unique situation where a client's mother died leaving her a retail space. Because there is a death clause in the NOTE wells fargo has accelerated the loan and is going forward with foreclosure proceedings.

The property is worth $1.5M easy. We have a buyer in place to buy it with a hard money loan for $1.4M at a discount. The catch is the seller won't own it in 20 days because of the foreclosure. So we need someone to come in, buy it for $1.2M and then resell it for $1.4M and make $200,000. It is currently leased triple net, way below market at $7500/month. 

So let me know if you want to make a quick buck.

Call me at 310-948-8585

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Topic:
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Location:
California Los Angeles County Hawthorne
Tags:
commercial
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Rainmaker
1,246,577
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Good luck with that one!  I'd help but there is no way I could qualify for that (and if I could I'd probably want to keep the property).

Jul 13, 2016 05:08 AM #1
Rainmaker
4,485,403
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Steve,

I think there is much more information needed than what you have given us.  In a NNN lease situation there are lot of factors to determine the value of a building including the tennant 's financial standing...And having spent 20 years in commercial real estate on the West Side of Los Angeles including BH and West Hollywood, and worked with investors day in and day out...I would not invest nor would I recommend someone to do so, or like Ryan Huggins - Thousand Oaks, CA stated, I would keep the property.  A

Jul 13, 2016 05:39 AM #2
Rainmaker
291,751
Jack Lewitz
IL Real Estate Specialists - Evanston, IL

I'm not sure your understanding the lenders position in this deal . If there is an acceleration clause the lender will end up foreclosing on this property and many lender is not going to go for the scenario your describing . 

Jul 13, 2016 06:51 AM #3
Rainer
236,387
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

I'm willing to buy for $900,000. cash but will hold forever. How can you sell to a willing buyer and make them sell to close your loan?  If you are proposing they payoff Wells and carry paper, that's another story. Deceased person ran the business? 

Jul 13, 2016 07:51 AM #4
Ambassador
4,300,542
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Steve Snyder - not my cup of tea (or coffee....) and not the right time for me to invest, either.

Jul 13, 2016 04:01 PM #6
Ambassador
3,678,450
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Steve, reading this is making me wish I understood a lot more about this stuff.  Hope you make a boatload for yourself and any buddies who hop on the train!

Jul 14, 2016 10:20 PM #7
Rainmaker
1,523,605
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Steve, I wonder how many people have $1.2 million availablbe in credit or cash to buy this property?  I don't!

Jul 15, 2016 04:18 AM #8
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Rainer
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Steve Snyder

310-948-8585 |100% LTV | Stated | Private Money
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