Posted by Ernest Tew on June 03, 2000 at 09:19:56:
My suggestion is that you keep in close touch with the owner, asking him to give you first chance at it before doing anything with anyone else. If necessary, offer more money. If the deal is as good as it appears, it’s better to pay a little more than take a chance on losing it.
Once you get the property, you can significantly enhance the value by fix-up work, adding rental spaces, and possibly increasing rents.
With a little creative structuring, all the increase in value can be tax-free. If you need to know more about how that can be done, call me at (352) 475-1800 or contact me by e-mail.