OfflineI have seen alot of info on wholesaling houses, but what about commercial properties? Is there anyone on here who specialize in million dollar commecial properties? We need to think BIG. What is the typical earnest money deposit for million dollar commercial properties?
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"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Jason,
I dont know if you've been reading any of my other blogs about a big piece of land in Georgia tha I've been working on, but here are the basics on the deal.
Appraised: 10M
Offered: 5M (keep in mind I was just playing the field. Taking a little action and learning as I go)
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ACCEPTED
Investors very interested. Payment of escrow would have been 25K however, I am still very new at this so I do not have the 25K.
Spoke to investors/seller about escrow, agreed to give me a 100K finders fee which will be stated on contract at time of closing. (if the deal goes through)
Like I said, very new at this so if it happens, it happens.. If it does not, Hey I gave it a try. Why not go big right off the bat right??
You are in win/win situation. If it does not happen you took a risk and learned something very valuable. If it does happen, that will be Awesome. You will have $100K in your pocket. I think it will happen for you. If it does happen please post a video on deans media so you can walk us through how you did it.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Thanks for the encouragement. I will definitely keep you all posted.. Very true about the win win as well. Although, it will actually be 200k being that I've gotten the seller to agree to 100k for finding a buyer as well.
On an even better note, the person I'm dealing with on the sellers end wants to bring me in on a couple of other projects that he has in mind as well along with introducing me to a few investors that he works with on a regular basis, and are intersted in the Texas area (where I'm from).
All in all, I think I can learn alot from working a little with this guy alone.
Wish me luck! None of this could have been possible with out all of you! Thank you so much everyone!
Cory