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
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