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My real estate agent said I will need to provide proof that I can get a loan to cover the property before they approach the seller. It's 79% leased currently as an office building. I will use PACE financing to turn it into a net-negative office building with a green roof, solar panels, concrete-green-alternative parking lot, dock improvement, add bathrooms and renovate remaining 21% to occupy, integrate 75F building automation, and several other capital improvements in the business plan. Once I have proof that I can finance this property, then my real estate agent will be able to get information from the seller to improve the precision and accuracy of my underwriting model. I'm setting up a single purpose entity to own, occupy, and manage the property.
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May 4, 2021 - 9:42am
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