22d (edited) • DEALS (Lost/Won)
Deals: Penn Street Properties Harrisburg PA (LOST)
This is for review by anyone in the group to see what deals were successful and whom was working on the deals. We will add all the documentation that we aquired while working the deal and update it as needed for group reflection.
The Penn Street properties was handled by as the acquisitions partner and myself the dispo manager. This was a deal handled and brought to our attention by Nancy who applied my option contract strategy and was succesful in getting them all signed.
Unfortunately, this deal fell through because after the BUYER REVIEWED the financials of the property the seller was asking for market value and their debt was too close to the asking price. Seller declined $458K at closing because they wanted $600K+. Our repeat buyer was willing to clear the debt and have the seller walk away debt free. Allowing them to start over fresh from a bad investment.
This was going to be a $15K assignment.
Good Job to Nancy for applying my "Option Contract" strategy and staying focused to get all the information required to help the END-BUYER make an informed decision.
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Deals: Penn Street Properties Harrisburg PA (LOST)
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