Monday and Tuesday, Tish and I took a whirlwind trip looking at properties in Indiana, Michigan, and Ohio. Commercial Mastermind members, Ann Brandl, David Keating, and Kyle Roemmich met us in Indiana where we looked at 5 properties with Realtor and Engineers in tow. As usual, Ann was a gracious host with fresh coffee and doughnuts waiting in a chauffeured van.
We visited the property we own and got some updated info from our engineers. Our attorney called while there and announced the final council meeting for our approval that evening was canceled due to rioting. The other 4 properties got thumbs up on 2 and thumbs down on 2…one of which we had under contract is getting shaky unless the seller agrees to owner finance instead of the contracted cash offer. It’ll work itself out.
On to Ypsilanti, Michigan where we met Joshua Dudgeon to look at 2 properties, one his and the other Harry’s. Already had Joshua’s deal under contract so we met the agent and our attorney there with Joshua. Great meeting confirming we want it and clarified the punch list and who is doing what. Fyi, the agent referred attorney and engineer. The other property is in the works.
On to Mansfield, Ohio to see another parcel under contract sent by Joshua. There I confirmed we want it pending due diligence.
We planned to stop in Knoxville and Barnesville, GA for 2 more site visits on our way home but both died before we could get there. In Knoxville, we were close on agreeing on terms and contract waiting to be signed. I got it while in route sitting on my plane ready to taxi for Knoxville take off. I called the agent to see if he could pick us up and he told me the seller wants monthly payments or won’t do the deal. You can guess my response…this kid ain’t makin’ payments on anybody’s land. Saved us a stop.
We were then headed to Barnesville to look at a parcel under contract (again for Joshua) but Tish brought it to my attention the average income is $27k, one building permit last year. No exit no deal. Saved us a stop.
Good trip. Killed a few, saved a few, and several yet to reach a conclusion. I hope the attending members got some good input and I can see another trip in our near future.
Check out some of the photos below:
Keep in mind, we’re still planning on doing the Commercial Property Bootcamp virtually coming up later this month, June 30th – July 2nd!