New American Legion Headquarters To Give Short-Term And Long-Term Return!

My partner and I have gotten the approval of the board of the American Legion to proceed. We will build the new SC State Headquarters for the American Legion in Columbia. That also means, we list and sell their current building. Building should sell for about $350k, so commission will be about $35k. (My partner is a RE Broker, and we will split commissions and profits 50-50).

We will sell them a piece of property we have under contract. Our contract price $630k, American Legion price $800k. We will contract with a builder to build them a new facility. $800-1mil and will get cost plus $10% on that portion. And we added a $20k management fee for putting the finance deal and entire package together. There will also be additional buildings on there new location that we will manage for them as rentals, so that will also pay long term commissions.

Best part is that a local lender has already given us a commitment letter based upon the Legions finances, and we will use their existing building and their $$$ to finance the entire thing. Still have some details to work out, and a lot of work ahead, but certainly my first $ million deal. (Personally, this is much better that rehabbing 10-15 houses for the same $$)

Thanks for you help and encouragement, I will contact you soon to discuss this and other things.

Rob. S.
Columbia, SC