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 Strip with Anchor by Tom Markel


Purchasing a strip, or strip mall as they are known in some states, is a venture that isn't quite as daunting when you have an anchor tenant to rely on. Renting out property can be a nightmare in a bad economy and there's usually a good reason why the strip went up for sale in the first place. Unless it's a new development that is being sold by the real estate management or construction company, the previous owners are most likely taking a loss if they're selling in a buyers' market. You'll want to ask yourself why and the bank will want to know the answer also before they approve you for a commercial mortgage or development loan of any kind.
 
Here at iBank, we encourage everyone who does business with us to look beyond the obvious when buying property. Investigate what has transpired there before and find out why the previous owners want to unload the place. Were the previous tenants unable to make a go at it? Was the ownership or management group fiscally irresponsible? Were they a foreign investment firm that is now looking to cash in and go back home or invest in something new? Digging up the answers to these questions could help you when developing a master plan of your own.
 
That master plan starts with a business plan to present to the bank or mortgage broker you apply to for financing. The business plan should contain a synopsis of the previous history of the strip and a detailed step-by-step outline of what you plan to do when you take it over. Make sure you include in it that you have an anchor tenant and get a long term commitment from that tenant to help you with the approval. If your own company is the anchor tenant, include financial statements for the previous several years and some references from creditors and vendors.
 
The application that you fill out here at iBank is the only document you need to complete to get the process started. Be as thorough as you possibly can and we'll make sure your request gets into the hands of banks, lenders, and private investors that can help you with your purchase. We have one of the largest lists of these lenders on the internet, so you'll get more than one offer. Spend as much time as you like reviewing them and when you think you've found the terms and conditions you need, wait another day or two. An even better deal could be coming from somewhere else.


Most Recent Postings

Type Amount Location Date Posted
Strip with Anchor $2900000 North Muskegon ,
MI
April 16, 2014
6:02 PM
Strip with Anchor $1500000 Santa Rosa,
CA
March 13, 2014
10:31 AM
Strip with Anchor $2000000 wAYNESVILLE,
NC
January 2, 2014
12:12 PM
Strip with Anchor $280000 cripple creek,
CA
November 21, 2013
1:14 PM
Strip with Anchor $105000 pittsburgh,
PA
April 24, 2013
3:25 PM
Strip with Anchor $250000 Duluth,
GA
April 17, 2013
5:22 PM
Strip with Anchor $145500 Lowell,
IN
December 2, 2012
3:03 PM
Strip with Anchor $6500000 Harbor City,
CA
September 26, 2012
9:08 PM
Strip with Anchor $600000 looking for information,
CA
August 2, 2012
6:55 AM
Strip with Anchor $1500000 villapark,
CA
July 10, 2012
1:38 AM

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