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Hi, I am a residential wholesale and tax lien investor located in VA but I also invest in MD. I have been purchasing tax lien certificates on residential properties for the past year. Recently, I have been researching a distress commercial tax lien property that I believe can be very profitable but I have no experience dealing in commercial deals.
Here are the numbers:
Property: Distressed Single Story; Restaurant/Diner; 3366 Sq. Ft; on a 43,560 Lot. Near popular tourist area.
$25,500 Tax Lien certificate
$ 2,500 Legal fees for foreclosure process/title examination)
$145,000 estimated rehab cost
$173,000 (total investment)
$572,500 (Assessed Value as of 07/01/2011)
$399,500 potential profit.
I am seeking a JV or money partner to assist me with putting a deal together. Any additional details will require a signed NCND. If interested please contact me:
Marty Sutton, USMC (Ret)
Sutton Media & Investments, LLC
(757) 819-5088 Phone/Fax
(757) 297-4867 Cell firstname.lastname@example.org