Weelam Awyoung and Karen Sun

We found it on loopnet. It was listed for a couple months. The seller has a couple partners who wanted out. They also have a solar energy panels on top of two building. The asking price was $800K. Our first offer was $700K. Seller countered at $750K. Due to the fact that solar energy was over built in NJ and we were not familiar with it, we decided to offer $625K for the facility only. Seller has the desire to sell both businesses together and will accept $650K ($50k less than our first offer and $100K less than their original counter). We realized that the worst scenario for the solar energy was that we would break even with the saving on the electricity. We finalized the deal at $650K. Hurricane Sandy helped to increase the occupancy unexpectedly. We had a really good start. The coaching program has taught us to analyze the value of the property and how to do the due diligence. We also realized that there was lacked of marketing for the facility. We have hired a management company to run the facility. There are two concrete pads that were done by the seller for expansion opportunity for additional 16,000 sq ft. We plan to complete the two pads in the near future. Our exit strategy is to realize the full potential of the facility and sell it in 5 years.