i have owned these 3 buildings last 10years. Tax increase put the area in a bad situation tax increase of 500% in 1 year. This was about 3 yrs ago. Finally they are going to have a 2% cap on assessed value this will bring my taxes down cosiderably. However this will not happen for another year or so.. My other problem is I have other buisenss interest that keep me elsewhere and i would like to sell these properties. I have tried realtors 2 yrs & fsbo. I have offers but the individuals cannot get loan. (most of them try 100%).. I.m deperate to sell. The buildings are in good condition. Is there any other advice to market, auction something that i can do to sell these properties? thank you.
2007-05-21 14:37:34 · 5 answers · asked by D-MAN 2 in Business & Finance ➔ Renting & Real Estate
Right now the Commercial RE market is not that strong. Many investors are looking at Flipping properties as well as acquiring rentals SFRs in the Midwest. You are very fortunate to have owned 3 buildings, because many investors out there can't acquire 1. My advice would be to offer Seller financing, where you become the bank and release yourself of any liability of the property. One of my colleagues is a Commercial RE Broker who can assist you with contracts if you need them. Please email me.
2007-05-21 15:24:01 · answer #1 · answered by black97accord 2 · 0⤊ 0⤋
You could consider financing the properties yourself via land contract, if your current lenders will permit same. However, in doing so, you always run the risk of a default and the need to foreclose, just as a bank or lender would do. Your other option is to rent the properties.
2007-05-21 14:41:16 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
sure, your taxes boost as your county tax assessors fee will boost. this is no longer unfair through fact there is not any assure that your fee will boost and your tax legal accountability will upward thrust. And this is no longer only like the government demands you pay the better taxes whilst your fee decreases. in the adventure that your objective became to easily pay for a place to stay in, you may lease. you're only fooling your self which you probably did no longer additionally purchase for the investment fee. yet shall we use your premise for a 2d. while you're actually not paying for for investment might you be prepared to make a handle the tax assessor handy over a hundred% of the capital earnings whilst the valuables became ultimately offered in lieu of an boost in aspects tax? of course no longer! this is not considerable through fact existence would not artwork that way.
2016-10-31 01:30:42 · answer #3 · answered by michale 4 · 0⤊ 0⤋
I heard that this works! Can't hurt!
Pray to St Joseph!
http://www.stjosephstatue.com/stjosephbook.htm
Best of luck!
2007-05-21 14:45:38 · answer #4 · answered by theman134 3 · 0⤊ 1⤋
find a local auction company and contract them
http://e-loan-debt-consolidation.info
2007-05-21 14:41:16 · answer #5 · answered by Chrise C 3 · 0⤊ 0⤋