Video: Closing Announcement | 5000 Vineland Ave
5000 Vineland Avenue, Panorama City 91601
– Value as a mixed-use development opportunity was the obvious premium to the existing auto use. Our team was able to highlight the development potential to maximize value for the owner.
– Launched our 14-point marketing plan at the start of the pandemic and immediately generated 9 offers within the first week of listing. We qualified each buyer by looking at their proof of funds, background and by asking a series of questions to understand their experience and intentions with the property.
– As uncertainty due to the Covid-19 pandemic increased exponentially, our initial escrow was cancelled but our team continued to aggressively work the deal. After going under contract with four other buyers, we were able to produce a final offer with a seven day due diligence period and 21 day close. The offer was all cash, no environmental testing or remediation required, within our pre-covid range of value.
– The goal of our client was to increase cash flow. We recommended various exchange options that would effectively triple their cash flow.
– We worked diligently with the CPA to share ideas and determine the best strategies to reinvest their equity and create immediate increase in cash-flow and long-term growth in their holdings.
– We kept the seller engaged in every step of the process and maintained a high-level of communication with daily updates on our marketing and negotiation process.