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

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

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/.

Jaksot(591)

MREIC 2026 Speaker Spotlight: Paul Moore—The Boring Investor: Build Real Estate Wealth Without Drama

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MREIC 2026 Speaker Spotlight: John Burley—Raise Capital for Your Next Deal Like a Pro

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When Good Deals Go Bad: Real Stories From Experienced Investors

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Every real estate investor has at least one deal they would redo if given the chance. Some teach expensive lessons. Others leave scars. In this episode, Brian Hamrick shares a live panel recording fro...

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Rebuilding After Losing $50 Million: Rod Khleif on Mindset, Wealth, and the Future of Real Estate

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How do you come back after losing $50 million — and build it all back stronger? In this episode, Rod Khleif, multifamily investor, mentor to thousands, and host of one of the world's top real estate p...

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The Hidden Financial Tool Every Real Estate Investor Should Know: Surety Bonds with Gary Eastman

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Most real estate investors have never heard of surety bonds, yet these little-known financial tools can determine whether a project finishes on time—or falls apart. In this episode, Brian Hamrick talk...

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Why Distressed Office and Retail Could Be the Smartest Real Estate Play of 2026, with Scott Sherman

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Billions of dollars in office and retail buildings are trading at deep discounts right now. While most investors see risk, Scott Sherman, Founder and Principal of Torose Equities, sees opportunity. Sc...

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New 1031 Exchange & Bonus Depreciation Updates for 2026: Tax-Smart Real-Estate Strategies with Dave Foster

New 1031 Exchange & Bonus Depreciation Updates for 2026: Tax-Smart Real-Estate Strategies with Dave Foster

It's tax season — and the rules have changed again. With new updates to the 1031 exchange and bonus depreciation, real-estate investors have more ways than ever to defer taxes and build wealth in 2025...

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