In 2012, as the market struggled to improve, interest rates continued to fall. They were in the mid 4% range at this time. I was keenly aware of this, especially since we were paying 6.5% interest on a seller-financed contract for a little office property that housed a janitorial firm.
Read MoreIn the summer of 2010, my investing partner cold-called the owner of a small office building. It was located on Trent Avenue and had a small, clean warehouse with it. As the area changed over the past forty-plus years, it had become eclectic. Industrial users are mixed in with ethnic restaurants, specialty retailers looking for cheap rent sidle up next to little office buildings.
Read MoreEarlier, I referenced “seller financing” in the acquisition of a property so I figured I should expound on that idea a bit.
To date, I’ve used seller financing in three personal transactions: two commercial buildings and one residential property. It’s also been used in transactions where I’ve acted as a broker. It’s one of the first questions I ask whenever talking to a prospective seller.
Read MoreA blog focusing on growing wealth through commercial real estate investing and developing along with aggressive savings and personal responsibility.
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