Do Something!

Do Something Now…Buy Owner-financed Properties!
By Sonya Rose

There are retired Americans who own large acreage tracts, commercial buildings, apartment buildings.. Sometimes, the retiree just wants to be relieved of the tax bill and the upkeep.  This season of tumultuous times should settle before you even think about approaching the bank. Finding an owner willing to wait for his/her cash can reap huge benefits.

Ask for ten to fifteen-year terms, amortized over a longer period of time with a balloon payment at the end.  The owner’s consideration will depend on their plans for the future, especially if they are mature.  If you can get at least five years, this downturn we are currently in should have passed by then. The banks should be back on their feet and more open to financing, especially to re-financing something you already own.

Offer an interest rate of 2% less than you are willing to pay.  Let the owner come back at you with a counter-offer. If the property is not income-producing, you may want to try a more conservative approach.  It would depend on the resources available to you.

Find a broker who is creative and optimistic if you would like to see many opportunities at one time.  The right broker will find several deals for you to consider and they will know how to make a creative offer. Not all Sellers will be willing to deal creatively, but some definitely will be.  Step out there and “Do Something!”.

If you want to sell commercial real estate in this market, I believe I can help you. Georgia real estate listed with me will be presented to international buyers.  I am seeking out buyers from other countries and a strong group of investors together by mid April 2009.

About the Sonya Rose, Editor: Sonya is a licensed real estate broker in the State of GA.
Go to www.investatlantarealty.com for more information.

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