Turning COVID Challenges Into Real Estate Wins
Welcome back to the Real Estate Investing School Podcast! In this episode, Brody interviews sales leader and real estate stud Ty Thorne about a commercial real estate deal he did during the COVID-19 pandemic. The deal involved a pre-foreclosure property that was 60% occupied and located in Ty's neck of the woods, Kearney, Missouri.
Despite the challenging market conditions, Ty and his team saw an opportunity and made an offer to the bank. They ended up purchasing the property for around $1 million, well below its original construction cost. Within three months, they fully occupied the property and had it appraised for a million dollars more than their purchase price.
The success of this deal led to another opportunity in raw land, creating a total of $1.8 million in equity in just 18 months. Ty emphasizes the importance of being in a buy mindset and taking advantage of opportunities even during uncertain times. He also highlights the advantages of commercial real estate, such as the ability to use data and financial analysis to make informed decisions.
Having a hard time finding deals in today's market? If so, book a free strategy call with us in the link below to see how we can help you!
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Book a free strategy call with us and find out how we can help take your real estate investing journey to the next level!
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