Partnership on a Strip Mall - Posted by Bob

Real Estate Investing Retail
1

Posted by Ed Garcia on June 25, 2011 at 11:32:13:

Bob,

I don?t know how much experience you have in commercial properties or what you bring to the table other then money that would make the owner want you as a partner.

Here he?s had the property for a while and knows the property and where the bodies lie and not only is he experiencing major vacancy with the property but wants to take on a partner. I feel he?s desperate to sell.

Bob I never like to think I know more about a deal then the previous owner who has owned the property for a while. If I consider a property such as the one you?re looking at I will have a game plan going into the deal or not get involved.

Bob, I hope you don?t feel I?m trying to be tuff on your deal, but I?m looking out for you and don?t want you to get emotional in doing your deal but rather for you to disassociate yourself from the deal when doing it.

I need more information about the deal, the market, the area before fine tuning the offer, but as for now, you shouldn?t pay more then 50 cents on the dollar.

Ed Garcia

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Partnership on a Strip Mall - Posted by Bob

Posted by Bob on June 23, 2011 at 12:43:55:

I have an opportunity to partner with an owner of a strip mall. The property is assessed at $375k and he would like to sell it out right for $275k.

He will consider a partnership agreement if I can come up with $100k-$150k. He has a tentant with a one year lease at $750/month and there are five other units that can be leased.

The owner is at retirement age and is looking for someone to take over the management responsibilities.

What are my options for either purchasing or buying into a partnership.

As this guy is desperate, he is open to all options.

Thank you.