Time, Effort, and Understanding Can Help Seal a Deal!
Property Review
Property Type: Storage
"Thank you, Cassie, for pushing this deal through! THis was a hard one for sure. I appreciate your help!" - Gabe P.
CHALLENGE
Sometimes, an investment in time and effort helps buyers recognize when a property is worth their own financial investment. Such was the case with 130 Illinois Street in Hot Springs, Arkansas - a 63-unit storage facility that was listed in March 2023.
The owner of this property lived out of state. He purchased it with the hopes of updating the property and getting it rented. But before he could do the renovations, the property was vandalized. Damage to a fence, an exterior gate, and some garage doors raised the price of improvements to approximately $125,000. The owner decided to sell rather than pour any more money into the place.
ACTION
The owner hired Realtor® Cassie Wells to get the job done. After she listed the property, the owner received six offers from out-of-state buyers that were based solely on images of the property. Upon viewing the property in person, for various reasons, the offers fell through.
FInally, the owner received an offer that stuck. The buyer came to town, and after looking at the property, he was very excited, This was to be his first storage facility. During the inspection, it was discovered that most of the units still had belongings inside them. Together with the owner, Cassie made sure that all units were emptied out and cleaned. She also had the police stop by a couple of times to ensure that no one else moved in any items.
RESULTS
The buyers returned to town and again checked the storage facility. Everything was cleaned and looked good. The buyers then met with a couple of fence companies and set up a new installation to occur within a few weeks.
The seller financed the property for three years, which bought the buyer time to update the property as needed and get it leased and generating funds before having to secure a bank loan on the property.
Cassie Wells
501.993.1973 | cassie@cassiewells.com | cassiewells.com
What Does a Commercial Realtor Do?
