This single property created more than $10M in value, but it was the most complex real estate deal we’ve ever done. We had to put a million dollars at risk to even start the transaction—and it was non-refundable. Multiple buyers, a cross-collateralized property in receivership with a parking lot, a hotel, and office space. This wasn’t going to be easy, but it definitely paid off.
Today, I’m peeling back the curtain, showing you the full numbers and story of this commercial real estate case study that proves if you put in the work, the reward is there—and it could be an eight-figure payoff.
I’ll walk through how we got this off-market, underpriced property sent to us, how we found buyers to take over the parts of the property we had no interest in, the substantial non-refundable earnest money we had to put down to close, and the hiccup at the eleventh hour that almost completely killed the deal.
Plus, I’ll share exactly what we did to take this parking garage investment from $31M to $35M to now being worth north of $40 million. This is how we did it.
Insights from today’s episode:
- A full real estate case study of the most complex deal we’ve ever done
- Why I put a seven-figure non-refundable deposit on a property that had low chances of closing
- How we immediately walked into $4 million of equity from purchase
- The value-add improvements we made to grow this property’s value by over $10 million
- The #1 reason why a broker sent this off-market deal to us before anyone else
- How we subdivided and sold parts of the property while we were buying it
- Our exact loan structure (LTV, debt, terms) to reduce risk
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Investing in Parking Lots: Real Estate’s #1 Overlooked Opportunity | Ep. 977
Charlotte Parking Facility Case Study
Recommended Resources:
- Accredited Investors, you’re invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club!
- If you’re a high-net-worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
- Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
- Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
Chapters:
00:00 Intro
1:38 Off-Market Broker Deal
4:11 You CANNOT Beat This!
5:20 This Could Have Killed It
11:23 $4M in Instant Equity12:36 Adding Value Immediately