came a cross a buyer looking to purchase small strip center worth about $1m anywhere within Sacramento county. willing to put down 20 to 30% down. Now, I've had several buyers telling me that they are always looking for good investment and many time i ended up wasting my time.
can any of the season brokers tell me how to find out whether the guy is legitimate or not? I mean is there a way to get all these done initially so that i don't go around wasting time?

thanks

There is a difference between an investor that wants a great deal and is realistic and one that wants a "pie in the sky" deal.

With small strip centers there are different classes. You need to learn your area just like with houses. So when someone wants a 14,000 sq ft strip center class A and all sold's even in the depressed market are 1.5 for that product then you don't need to waste your time.

You have to tell your buyer I know the market you want to buy in and the prices are currently XX. Each month write a commercial newsletter or e-mail telling current market conditions etc.You also need to get with a commercial loan officer as many properties won't fund at 80 ltv and the lenders want more down.

So in essence when a true steal comes along sellers will want the cash and not all this financing BS.They will want to close quick to dump the property and solve their cash flow problems.

thank you, Super Realtor. this helps a lot.