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yep I can't seem to get that come up all right and we're live live coming to you live from where you at Pat I'm in beautiful Tampa Florida today beautiful Tampa Florida and Bend Oregon sorry for being late folks we're working through some multi screen presentation difficulties but I think getting close what we're going to do today is we're going to walk through 17 properties that are new I actually think we're down to 15 two of them came out get some ello is on some of the properties from our last event and we're going to reintroduce a couple of properties also from that event we're going to walk through them and give you an opportunity gets more information make offers and this kind of a thing may as well do introductions while we're while we're working this up my name is Brett Columbo I'm the president of distress procom its parent company probe s real estate inc and also realty motor i am here today serving as a sort of a conduit for pat and and what we're doing is we want to present these properties and liquidate them get them out of here these are what's called a section 170 property which Pat's going to tell us a little bit more about but say tax exchange where if you've ever heard of you I'm sure you've heard the commercials you know donate your car for tax savings this is very similar only it's for big companies and so what these are our surplus corporate properties and Pat we've got your we do have you now up there so we can we consume your screen slides are a little bit small but um let's see all right now we've got kind of a split screen thing going on there I think we can probably walk work through it like that if that's all right and if you can hear us there we go now we're talking our okay now we're cooking with gas I don't know if they say that in Tampa I appreciate everybody's patience thanks to come on here the reason Pat reached out to me is because he knows that we've got a great network through distress pro and you know we had a lot of people on our last call and we know that if you're a subscriber to distress pro then you're out there looking for the real deals and a lot of those are still going to be with the lenders but there's other sources for those and Pat is really quickly becoming like a fantastic source and Pat why don't you tell us I've told a little bit oh you know what i should do quick disclaimer I'm not your attorney I'm not your real estate agent I don't represent you nor do I represent padam simply facilitating this so there's no agency relationship of any kind here Pat represents or is the seller depending and you'll go through and tell us about that Pat yeah and if you don't know Papillon Pat has been in the business I don't know was is is it is it 63 years of 36 years 63 I get confused and he's done a lot of note sales done a lot of distress sales done a lot of work with a lot of commercial property liquidated a lot of commercial property and notes and so he's in this new role where his job is to move these section 170 properties pack can you tell us a little bit more a little more eloquently what that's all about sedona we're the wealth fund room represents us various nonprofit entities and in the acquisition of a real estate that is a bargain sale donated under this section 170 of the Internal Revenue Code and basically they get a charitable donation and the really and the charity gets the real estate the charity is not in the position in a game of repositioning real estate they strictly they want you to turn these donations into cash and our job is to find cela buyers to take those properties as the charities receive them so the charity is typically sometimes these are donation sometimes there a donation plus cash bottom line is these change your receiving these properties from sellers not distressed sellers like we used to note sales the receiving from sellers who are receiving a tax benefit for this and the charity suddenly wants to liquidate this property so what I'm going to show you today when i showed you two weeks ago our properties that are available i have a strike price on these properties that the minimum number of the charity can take they're going to be a price per pound so i'll go through those as i get them but i want to talk about a couple of things as before we get started one just as rekted disclaimer is that you know we're not representing anyone on this particular call these aren't offers to purchase they have to be done certainly through confidentiality agreement through seeing do deals materials strictly showing what properties are available um but our bidding process we didn't talk about last time I want to kind of clear this up on that you need to register for the event you when you do you sign a confidentiality agreement in this case the compy says that you're not allowed to call the seller which would be the donor in the charity case so um the we went to the requests if you're interested in the property request they due diligence material which is going to include a broker price opinion an internal valuation maybe co-star loopnet type data but that's all you're going to see initially we don't want you to spend a lot of time and money on due diligence if we can't get to the right pricing with you so we wanted to make sure first of all that you're in the ballpark with us on that second you should once you've seen the property that presenting information submit a non-binding loi a letter of intent on our forum that way it's all consistent so we know your interest level we understand that you may not be your final price you haven't seen everything it takes the least we're to the point up hey I know where the property's located I know what it looks like I know what the specifics are on it this is what i think i could pay provided everything checks out once you submit an LOI we would counter sign that the price is acceptable and then you're going to get a draft of a purchase sale agreement once you get the draft the person selling agreement you will all start sending you the balance of the due diligence materials that you're going to need we will send you everything we have about the property sometimes it's limited but we're going to send you what we have will give back a fully executed purchase and sale agreement you deposit escrow funds you complete your due diligence and you close and fun that's that's the process great now higher the price the shore to do go in this period the more likely you're basically accepted if you want a 60-day due diligence in a 30-day close you come to the wrong place we do not sell properties in that fashion if you want to buy those properties go to CBRE any real estate company would be glad to say all those kind of terms we're looking for 30-day terms start to finish so we're not these are as it these these properties are well below as his value of many times less than the fair fire sale value even and we expect the buyers to have ready cash and bill complete a sale 30 days start to finish so with that said if you see something you like if you see if you if you've seen something you like in the past or even now I ask you to send me those otherwise if you have our form send us the LOI at this address if you don't have the form send me the property that you're talking about your bid amount and your closing terms I mean how many days to do is how many days to close we will get you the oh I so yeah with their power head in there we actually we set up a kind of a really easy process for you you know last time we had we're working through this this is our second event like this but what you'll see right now if you're you're well presumably you're on the Provost real estate site right below there there's going to be a chat window so if you have any questions while we're going through this or when we get to properties want you to go ahead and tune in on the chat and just let us know you know let us know what your question is and and we're going to ask it to Pat here on air the other thing is before we had a button and whatnot now below the chat you're going to see a form and is a list of all the properties that we're going to talk about today just check the boxes on those you go through you submit your contact information that will go to Pat and in that process last time what we had to do was that went to pack up back to you with the confidentiality agreement you had to get that back to Pat we've integrated that all into the one form so if we come to properties that you're interested in in getting the due diligence on go down below the chat and there's a form there check the ones that you're interested in and check I agree on the confidentiality agreement after you read it and submit it and that will all go to pat's team so they can begin the process of getting that stuff to you some good Pat I guess right so our last call we had we talked about having to prompted we were going to offer absolute high bid today Wednesday when's the any one of these properties are both are the first one in which i think you've had time to do due diligence received information is 4518 blair in st. Louis it's a hundred and three thousand square foot zone multi-family former nursing home if you'd like to make offers during this call either email or chat how you want to do it you're certainly welcome to make those offers on the other property is in Union City Indiana uh this is a what the picture you see there is a clear indication of the property it's both the historic building and the new add-on this is a twenty-six thousand foot those are huge door drive through doors this was a bottling plant uh and i think somebody can make one heck of a buy on this today so so these aren't regardless of price you would sell this to me dang right of them at five o'clock whatever oh hi opinions today we're done so if i gave you a hundred dollars for that today and nobody bid over me would i take that for a hundred dollars yours that's not a bad deal Pat I like that alright so we got a question committing here it says are there any triple nets among all these properties the answer there is no Pat right we got mostly a little bacon but there's no Triple Net right okay so let me talk about it vacant and in case that we do see some with some occupancy in there but it's usually minimal and it's usually you know I'll talk about those as I go through them okay all right so then you know with that I think we should go ahead and get started and we'll get through some of these properties now if if we have a bit of a sometimes I'll have a bit of a delay on these events so what the time between you know when you ask your question and when we get it may take a moment there but do use the chat do ask your questions we're going to try and answer everything we can here today and what if we can't answer we can well if the answer is available we'll get that answer to you afterwards so with that about how about if we get into some of these slides yeah so your initial lives had a couple changed today I've just got noticed before we started the call on this first property in muncie indiana we do have our we have a tenant that occupied the entire building and they had an option to buy they just exercise the options so I do have to take this one from the cell okay any more time with that one today but you know mark it off of your list the first property able to come to here is going to be 301 east broadway in Alton Illinois Alton is on the on the Alton River located near the Argosy gaming casino this is a seventy thousand foot retail office is actually three levels there's a basement level there's this ground floor level none of the upper level there are some tenants in this the gross rent right now is about thirty one thousand dollars a year it's they've been on the market when we get when we get acquired it at 495 the last sale price recorded on that was in 2010 at 675 we've got an approved for sale at a hundred and fifty thousand dollars two dollars and thirteen cents per square foot so you're telling me is 31 five gross and this is a proof for sale at 150,000 that's correct just about four tenants I believe so you know it's got a lot none of the upper floor of the lower floor occupied a few the ground floors are it's a great location 30 minutes of st. Louis on if you familiar with the casinos on the river but the argosy casino is within walking distance of this property so I think this is the outstanding deal yeah I would agree all right next what I'm going to is going to be milwaukee wisconsin we have 20,000 square foot warehouse it's vacant it's got uh you know heavy heavy electric utilities 480 volt 3-phase electric has 12 loading dock push outs on it 30-foot clear ceiling heights it's northwest part northwest of downtown Milwaukee the building you see next door to it but when the metal brick building do you see is milwaukee scrap buyers which takes about a whole block so it was most recently listed at 125 we have it approved at fifty thousand dollars two dollars and fifty cents a foot 12 great and now if you have any questions on these as we're going through once you go ahead and pop them into the chat anthony is going to relay those to us and we'll get them answered so just as things come on if you need to know something go ahead and use the chat and let us know what it is alright next property is to 220 north western avenue racing wisconsin this is fifty nine thousand foot they call it flex space but basically there's there's three different buildings that you will see you see two of them in this building you'll see historic building which is about 20,000 square feet you'll see an office building which is about 14,000 square feet and then you'll see them as a metal building between the tube that connects those that's another nine thousand feet so fifty nine thousand feet this is about 25 miles south of milwaukee on lake michigan so about 70 miles north of chicago a good location Prue for sale at two hundred thousand dollars when I say price per pound it really is a price per pound three dollars and forty cents a square foot creep so it's a very interesting building our series of buildings and convened it can be occupied very quickly the next building and we've got is 105 Lester in rantoul illinois and that's 15 miles south of Urbana it's north of champagne so it's a 70 3,500 square-foot warehouse with 6,000 feet of office space included in that on seven point seven acres it had been a tenant occupied and and i think i believe it's vacant at present it's got 19 to 21 foot ceiling heights most recently on the market at a million to we approved it for sale at five hundred thousand six dollars and eighty since the foot and it's ready to occupy as well you see it's there it's a decent looking building and I think it's something that people could get pretty excited about our next building is in Gary Indiana and if this was an old post office building this photograph maybe it's probably a better side to this building when this photograph but that's the photograph we got on the screen 4,000 square foot it's vacant as downtown Gary last price listed was 150 it's approved for sale at 50 certainly you ought to be able to make it something work at fifty thousand dollars this building that's it the land it matter of fact that the land is probably worth that great this next bit early i just just got sold I've had it in the list I wanted to see that you see the types of things that were saying it and how fast they do disappear this was an industrial facility in cheyenne wyoming 196 thousand square feet on 30 acres a phenomenal building we had an approved for sale at a million three and pulled the trigger at it so it did get done before this particular call but if you see some you like on these on this call don't wait two or three weeks call think you're going to call and find it they're going to be gone the Mater Dei is typically that's the thing when you know when you're putting up offers on stuff where we're coming in that frequently like fifty percent or less of assessment or appraised your last BPO and and and all that I mean that's kind of the trade you know where we went through the due diligence period and and sort of the terms of how these things have to go down and the trade-off is that you're getting a screaming deal you know and so it's important to consider that and and when you go to put when you're moving forward you know bear bear that in mind so alright the next property is this is a phenomenal property it's 3131 East first Street Maryville Missouri this is an energizer energizer corporation manufacturing facility 486 thousand square feet with 96 acres 19,000 feet over their office is vacant energizer moved out of it 2013 they're still maintaining yet they still own it are and we are now donating this along with cash to the nonprofit and this is a dealer has to close this year uh it was currently listed by Colliers at 5.9 million dollars we've approved a sale on this at one point five million dollars I don't you have somebody that could be a potential tenant for this building talk to the people that have been and done the inspection of the building it's magnificent it's it's over built in every fashion from from the air conditioner handling to heat to electric service it is a first-class facility maryville is about 40 miles north of st. Joseph which is north of Kansas City so great location uh if this was certainly in a primary secondary market we'd be talking about 10 million dollars but a million five and it's yours so tenants for this kind of thing might include like data centers or or other sort of you know folks who have a large operation like that and they need the kind of overbuilt power and that sort of thing that that's required to get those things to run like manufacturing facility I mean it can be any number of things but I think it housed about 250 employees at one point so this is I mean you just play them information about this out there on the internet you'll probably even see the Colliers information that has nothing to do with this is a particular sale but oh this is something that's going to very short fuse if you're interested I mean call me immediately on this thing so this has got an upcoming sale we're gonna have another call I'm not sure exactly what day we talked about having a next call I review some deals that weren't quite ready a lot of these properties that we're getting donated or an escrow we're trying to get them to close we can get them resoled and so when we see new deals come to the market I'd like to at least should be aware of what's coming this is a hundred five thousand foot warehouse at Columbia Mississippi hopefully in the next few weeks we'll see this thing come to the market but as you see it's a really nice-looking facility I've got another upcoming hear of a in brookfield mass 153,000 foot of space on 15 acres 100% sprinkled again these prices are going to be similar what you've seen these other deals so if you're interested these geographies please let me know next building I've got coming up is going to be in mcallen texas 145,000 square feet this is the Rio Grande Valley on 16 acres a great facility great location high traffic for warehouses and for trucking facilities and to do the map to type cross-border work the next one is in Lapeer Michigan 260 thousand square foot on 91 acres I think you're seeing what you're seeing as we see these things the quality is really increasing in the types of products you were saying and I think as we work through these older properties at these really low dollar fifty two dollar per square foot you're going to see these prices go up tremendously so I would really encourage you if you see some of these properties you better take advantage of them because the stuff you're seeing is cup coming uh it'll at least it'll be still stayin past I think I think we lost you in velocity a little bit maybe lose it I've got you here but is that the end of is that the end your property list because we lost your slideshow that is I'm sorry that you back down yep okay again let me let's go back to the bidding process you've already raised you if you're on the call you already decided copy send in a request for due diligence material for the ascenian initial do those materials at that point that's all we're going to see we'd like to see some type of southern non-binding loi at that point from you I will countersign when we agree to a price and then you can then you can we'll start with the purchase and sale agreement you'll have that you get the balance of the due diligence irials you'll have the ample time to do your due diligence you'll get your fully executed PSA we like to see the pause at that point we want you to complete your due diligence close and find again a higher the price shorter due diligence more likely you basically be accepted these aren't going to be 60 day due diligence 30-day these have to be closed at 2015 so you've got a 30 what six days yep 40 yep 46 days like that one day and get them done so and I think it's important again to point out that the the reason you know these terms are sort of not very forgiving although it's more more forgiving than the auction business that's for sure because I'm not holding your your your check is that your you're getting these properties getting first crack these properties at these ridiculously low release prices in advance of you know really the market and in the trade-off for that is neat to be able to move quickly and and not have a lot of contingencies right that's right so back with more times when you refresh you on st. Louis and on union city I really let's talk about let's talk about st. Louis Furman so st. Louis is zoned as multifamily right right and so it's zoned as multifamily it is we've got a hundred and 3,500 square feet any idea how many doors you got there I don't know that no sir okay and so it's approved for immediate sale at any price so if I offer you pat if I want to pay five hundred dollars for that today by the end of today Pat you'll take it if somebody hasn't been more yes fantastic want to make sure we're really clear about that that one and this one both Union State Union City 26,000 square foot retail former building former bottling plant and it's currently vacant now do we know about the occupancy status on the other guys well st. Louis they're both bacon both taken okay great and this understand this building was built in the 40s the on this on the first part but the newer part was built the lag in 94 the you see the metal Billy with the garages those are drive-through garages so okay is it's a great-looking I thankful for what you can buy for you should be able to certainly make a lot of money on thing should we talk about cooperation for a moment okay yeah we will we have a independent contract agreements we're happy to sign with your broker on this call we'd be happy to sign what we pay you the fee to do this and we can talk about those if you'd like to see those will be glad to send you one right also if you are a broker and you and and you know somebody who's interested you you will you can get compensated on this you've you know if you're properly licensed if you register your buyer and you'll get updated on this that's right last matter of fact we had quite a few brokers in the last call at a res you're through us and we've got some other lies in place where the broker is going to do quite well on somebody so I'll be happy to discuss those you know offline with you exactly what those terms are but you'll feel comfortable that you can bring us a buyer that you don't have to worry about how the buyer is how you're going to get paid right and we never poach them and it's easy still you'll ever do that's right you thank you compare this to doing by the bank re oh there's no comparison uh you know where the banks are slow to move difficult to work with onyx on your listing price expectations uh we're out to sell these properties period a path I've got a question is there north carolina north carolina property there is a north carolina laundry uh in uh west and north carolina 5634 north carolina highway 211 it's a three night like or warehouse i don't have it on the screen okay it looks like we've got through our list that we had for today pretty pretty quick do you want to take a moment to go back over any of the assets from last time that we didn't that you don't have loi is on or or that maybe it's shaky but they're still available at any rate I I don't have that on my screen here but I could tell you this if there's a number of those properties that are now off the market um but I'll walk through it um do we just go like a you know just do a shotgun approach just blast it out there so so people know what's still hanging around okay Atlanta Georgia our last call 19 acres redevelopment opportunity still available priced at seven hundred thousand dollars oh we've had some talk from people about developing a parking lot there it's a mile north of atlanta hartsfield airport could be could be a outstanding opportunity last Tasker assessment or appraised value and then they last ask price was million 745 we've got it approved to sell at 700,000 what else you got this is a mile from the Atlanta Airport so the Bedford properties gone we still have the Calumet City Illinois property available for T 2,600 square feet formerly this is a 2.5 million approved price 18 800,000 that's eighteen dollars a square foot and this this building is ready to go ready to occupy its in the Chicago area portsmouth virginia is gone that was a seventeen thousand foot office building mount union PA is still available 56,000 square feet on three acres for 150 thousand dollars the Keokuk Iowa crappie 75,000 square feet on 78 acres still available at two hundred thousand dollars evansville is gone Mountain View Arkansas still available 150 5,000 square feet at $250,000 as a dollar sixty a square foot 48 acres 150 5,000 square feet in Mountain View Arkansas formally listed at one point nine million on the approved is for sale at 200,000 to 50 and 100 for 35,000 square feet on three acres $250,000 the Colorado Springs property is sold the valley PA property is sold sterling New Jersey property it's sold the Rantoul Illinois I talked about this last time I had to had my wires crossed on this particular deal there's 25 residential lots Rantoul Illinois that's at south of Chicago uh and I had I told you it was I told you wrong I give you the warehouse pricing this was actually five thousand dollars per lot or 125,000 425 residential lots at the ranch oil under 5,000 125,000 425 rosa a lot find that comes up to 5,000 for a lot um it's like a land bank deal just put it away save it for later or get going on it I still have avon park florida 109,000 square feet on 10 acres that's about a hundred miles south orlando formally listed at 1.1 million i have it approves at 500,000 that's four dollars and fifty five cents a square foot behind Lynn New Jersey is sold hey don't call D'Amato his soul and then I've got the tubes I got st. Louis and union city to sell today so all the stuff as you can see it's not it's not going to be here in two weeks everything I've shown you today and lasts and lasts two weeks ago will not be available to come January one you know we didn't cover patent somebody might be looking at these and they're saying well yeah I'm going to get it for five hundred dollars but but you know it's dirty it's got environmental problems oh there the more we don't have environmental issues typically there's and nvm with environmental if they do have environmental issue we would certainly let you know what that issue is up front you know we don't want to take properties on these charities don't take brothers on their environmental does they have to get rid of them taxes are typically current on these things that they're not if there is something other than currently would let you know at that point as well so these are going to be clean clean sales great so do they come with a phase one well they'll be a phase one we don't typically an update phase one because we're not going we don't typically you own them very long so but when you take it and you have a phase one when your when your client takes it in I Wilson will send you a copy of the phase one that we have in place and do they have back taxes typically taxes are going to be current again we don't own these very long it's not me as these cherries on these very long the tax have to be current when they close them so typically there's there's not a tax issue at all if there is we're able to know that up front so you can expect expect on these clean title or good title a phase one that that that indicated not any problems although we can't guarantee your warranting that information here in this call and that you're taking it without any back taxes right great well if we don't have any other questions coming from the attendees then I think we should wrap this up and and move on but I think that these are some fantastic deals I really look forward to to what else you've got coming Pat and so we can get more when we're getting real quick Alton Illinois I think is a great building great location Milwaukee actually let's go back to Alton Illinois just one second so so Alton Illinois this is a proof for sale at a hundred and fifty thousand dollars it's two dollars and thirteen cents per square foot it's got its partially occupied it's already got thirty one thousand five hundred and sixty dollars coming in on the thing seems like a slam dunk to me Pat well I think it would be and I think the like said you can finish the upstairs out for any number of things the basement out the same way uh I don't know how you could go wrong with this with this product at this price do you have any information if something requires with that do you have some information there somebody in choirs in terms of like tenant mix is it just like mom pop retail in there what's going on with the tenants yes that I think that's all but I don't I don't have a rent roll with from you so i can't speak to that but i did look at it yesterday i think there's a some type of a stevedore cafe and and i live an insurance company so I like that great but look at the look on the map it's a great location i think you'll see the Argosy gaming's been there for what 20 years out there in that area done fairly well last sale price again was six hundred and seventy five thousand dollars back in 2010 so um milwaukee again fifty thousand dollars for lots a lot of billion or fifty thousand dollars on that you could be into quite quite easily others massive project there in Racine Wisconsin 59,000 speed at three dot 40 since the square foot on the Rantoul Illinois this was when I had confused last time about the lot same same location as 15 miles south of Ravana uh $500,000 ready to occupy six dollars eighteen cents a square foot with 19 to 21 foot ceiling heights Gary Indiana $50,000 uh downtown Gary Cheyenne as we mentioned was gone Maryville Missouri if you don't look at another deal if you need to look closely at this deal insane price for four hundred eighty-six thousand square feet on with 96 acres don't imagine there's a lot of technical type tenants out there that'll be a fifth but you can google that energizer up and you'll see a number of articles about the plant they had their I believe Colliers has information online when they had listed for sale phenomenal facility this will be one of those deals that you'll see it in six months i mean i remember i could have bought that for me and by I've got a whole portfolio of those past I invite you to get information to us if you have specific questions you're welcome to send me an email uh and if you want to get your bids in on st. Louis and non-union our unions any good man today so here's the easy way to do that there's a form below the chat below this video in that form you can check off any of the properties that you're interested in getting the more information on you can also initiate your bid process there and in that form is where we're going to have you send confident confidentiality agreement so we're going to take that whole step out of the of the back and forth and it's a real efficient way for us to sort of move through this process get the information to pat's assistance hands really fast so she can turn around and get you back what you need so I think if we don't have any other questions pad i think that's it right that's it talk okay home another week or so okay sounds quite well next week let's not do it cuz we've got Thanksgiving but what used to do now is if you're interested in any of these properties go down below the chat use the form complete that that's going to set the whole process in motion you'll get all the information that you need you'll have your time to do your due diligence and your walk through what have you and and we'll move to close by the end of the year sound good Thank You Brad all right Thank You Pat have a good day