Negotiating the Purchase of a Distressed Downtown Property | 2min snip from BiggerPockets Real Estate Podcast

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538: Find the Real Estate You Hate (So You Can Buy the Real Estate You Love)

BiggerPockets Real Estate Podcast

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CHAPTER

Negotiating the Purchase of a Distressed Downtown Property

This chapter explores the journey of finding and negotiating for a distressed office building in downtown. The speakers detail their strategies for property identification, outreach to the owner, and the negotiation process, culminating in their final decision on the property's price.

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Not everyone will love commercial investing, mixed-use buildings, flipping houses, BRRRRing, or even traditional buy-and-hold rentals. But you’ll probably find one type of real estate class that you absolutely love. It may take you some time, but if you’re able to find a property type that sparks your creativity, all while providing positive cash flow, you’ll know you made it.

Katie Neason definitely didn't love government-subsidized rentals. She dreaded the phone calls, the repairs, and the unresponsive tenants. Katie thought that upgrading her investing strategy to multifamily housing would solve the problems. Unfortunately, after buying some fourplexes, she realized that too wasn’t for her.

After trial and error, Katie found her true real estate loves: flipping, developing, and mixed-use buildings. So, she went into all three and is doing phenomenal! Katie shares a special Deal Deep Dive where she walks through a degraded downtown building that is now the talk of the town due to her smart negotiating, creative redesigns, and ability to use her network to fund the deal!

In This Episode We Cover:

Why it’s important to find the real estate classes you truly enjoy working on

Understanding the positives and negatives that come with subsidized housing

Revitalizing a downtown through smart planning, designing, and financing

Taking action so you can achieve “hockey stick” growth in real estate

Working with the city so you can collectively build something that adds value to the community

How to negotiate so both the buyer and seller walk away with a win

And So Much More!

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