Learn How To Start Investing In Real Estate
Learn How To Start Investing In Real Estate
commercial DEAL

Sean Katona

Simplified Properties in Newport Beach, CA

This neighborhood shopping center was bank owned [REO] sourced via Loopnet. We used the listing broker to represent us as the buyer, allowing him to 'double-end' the deal, and ultimately went to contract substantially below list price. rnThe focus/business plan on this deal was to stabilize the rent roll, renew leases, bring rents to market rate and fill up any vacancy. Immediately upon closing, the property received a facelift including new paint, resealing / striping the parking lot, fresh landscaping, improved signage, LED lighting, and addressing any deferred maintenance. rnWithin 18 months we achieved 100% occupancy along with extending/renewing all the existing leases; boosting the value by over $1,000,000. Our equity owners (friends/family) enjoy double-digit returns cap rate plus 3% rent bumps each year on the leases throughout the building. rn

Commercial Details

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

+ Commercialrn+ Marketingrn+ Negotiationrn+ Due Diligencern+ Raising Debt + Equityrn+ Entity Structuringrn+ Tax Advantagesrn