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The Industrial Deal
Manage episode 458836605 series 3629348
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Walk through what it took to take down our best messy distressed deal to date, a 6 acre industrial property that was purchased for $200,000 and sold for $800,000.
This deal involved complex challenges including:
-Tax distress ($100,000+ in back taxes)
-A deceased owner with no direct heirs, requiring tracking down multiple distant family members
-Complex title issues including life estates
-Multiple fractional ownership interests that had to be purchased individually
-Significant risk as purchases were made without title insurance
On this episode we explain how we persevered through months of follow-up, eventually succeeded where a previous wholesaler had failed, and detail in how we navigated the complex closing process.
We also discuss lessons we learned about title insurance and our ultimate decision to sell rather than develop the property themselves.
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3 episoade
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