Un-Financeable and Seller Wouldn't Carry the Note - Next Level Thursday

Published: Sept. 7, 2023, 5 a.m.

b'

In 2021, Jeremy Garcia\'s commercial realtor brought him a semi-off-market listing for a 14-acre vacation resort located on the shores of Lake Michigan in North Muskegon.

The resort had been closed for two years due to Covid, and the seller\'s reported income pre-Covid didn\'t come close to justifying the $2 million price tag they were asking for.

They also weren\'t willing to consider seller financing, which seemed to be the only way to justify their price since the lack of a financial history made the property un-financeable.

So how were we able to close on this property in 2022?

In this episode of Next Level Thursday, Jeremy and I break down the challenges we had acquiring this vacation resort and the strategy we employed to find a lender for an un-financeable property.

You can find out more about Scenic Drive Resort and even book a stay by going to https://bookdreamstay.com/.

'