How to buy commercial properties that aren’t for sale

 

Every movie that includes a big business, a wealthy tycoon or a bloodless tyrant will tell you that everyone has a price.

To a point, I do believe that’s true.

I had a movie star get shown around my property a while back by an agent…

And even though I knew I didn’t want to sell…

…I also knew (If I’m being completely honest with myself) that were the offer good enough I’d have considered it.

Thankfully his offer was nowhere near that invisible price so I never had to test myself on that one.

Even though I didn’t want to sell…

And the property was definitely NOT for sale…

A sale was still possible.

Of course, if you don’t have billions to throw around there’s another way to find deals…

I’m talking of course about prospecting for “off-market” deals.

A while back I was looking for a deal and one of my strategies was to look for off-market deals.

This is an interesting one because very few people look for off-market deals and even fewer get them.

But that’s not to say that they can’t be done… And can’t be great.

I was looking for a property in the Byron area…

And being here as long as I have I know a lot of people…

So it was a case of just talking to a lot of people…

I put out the “feelers” for who might be interested in selling.

There were a few leads that came out of that.

In the end… While I was discussing some possibilities with some potential sellers, I came across another property that looked too good to pass up… And ended up buying that instead… Further north.

That was my strategy but there is another that you can use if you don’t know the area.

Just recently a deal went down that I was amazed by.

Two young blokes just started propositioning ALL the landlords and property owners of commercial in Byron, asking if they wanted to sell.

While most people spend hours looking on domain or real commercial these guys focused their efforts on going straight to the owners of the properties they wanted to buy and just asking.

There’s a Dutch saying which roughly translates as “You’ve already got a no!” It’s applied to the subject of asking for something you want.

If you don’t ask for what you want then the net effect is that you’ve got the same result as if you had asked and gotten a no…

So nothing worse if going to come from asking than you already have…

On the other hand – you COULD get a “yes”.

Which is exactly what these guys got from one owner…

“Yeah alright… I’m ready to move on – how much will you give me for it?”

“2Mil?… Sounds ok… Deal!”

I was gobsmacked! It’s probably worth $5M, not $2M but clearly, the seller didn’t bother doing his research before he signed the contract.

Probably owner it forever and was ready to move on…

But WOW – what a deal!

As the saying goes – fortune favours the bold!

These guys got the deal of a lifetime…

Yet it makes you wonder how many more “deals of a lifetime” there are out there?

Probably lots if you have the patience, know-how and persistence of these two young guns.

It’s a great lesson in thinking outside of the box…

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