How To Buy Real Estate From The US Government
Welcome to the Real Estate Espresso Podcast, your morning shot of what’s new in the world of real estate investing. I’m your host, Victor Menasce. On today’s show, we’re discussing how to buy surplus real estate from the US government.
Firstly, if you believe that high-quality real estate with strong operators and developers is still a viable long-term investment, irrespective of any executive order in the last 24 hours, then check out our projects at Y Street Capital. Register for our investor portal and search for real estate in the US. You’ll get to see the various projects we have underway across multiple states in the US and two provinces in Canada. We promise we will not be spamming you with tons of emails. Visit YStreetCapital.com and register for our investor portal. The link will be in the show notes.
Today, we’re exploring how to buy surplus real estate from the US government. The US General Services Administration (the government’s landlord) owns, operates, and sells real estate assets of the US federal government. Recently, the GSA listed several properties for sale but subsequently removed about 440 federal buildings representing nearly 80 million square feet of space that had been listed for sale. It is anticipated that the US government will be offloading numerous properties in the coming weeks and months.
Properties listed for sale on the GSA website are generally managed as an online auction. Currently, only a handful of properties are listed. I will share an example of a government property I am somewhat familiar with, located at the corner of I-35 and Woodland Avenue in Austin, Texas. The property, a 60,000-square-foot building, is triangular in shape and constructed into the side of a hill. It also comes with a parking garage that has some structural damage. However, keep in mind that all properties from the government are sold on an as-is basis with no warranties, so it is essentially a buyer-beware situation.
The opening bid for this property is $60,000 and you can bid in increments of $20,000. There are two ways to bid: a flat bid and an automatic or proxy bid. The auction is set to close on April 21st, however, there is an inactivity period, and the auction remains open until the inactivity period expires. Also, note that auctions only close during regular business hours (8 a.m. – 5 p.m. Central Time), and never on weekends or federal holidays.
Should you want to partake in an auction, pull up the listing on the GSA website and find a document called Information For Bidders (IFB). This document, along with others, will provide a detailed overview of the auction process and property description.
Also, remember to register for the Investor Portal at YStreetCapital.com and keep an eye out for updated property listings on the GSA website. With that in mind, have an awesome day and go make some great things happen! We’ll talk to you again tomorrow.
Stay connected and discover more about my work in real estate by visiting and following me on various platforms:
Real Estate Espresso Podcast:
- 🎧 Spotify: The Real Estate Espresso Podcast
- 🌐 Website: www.victorjm.com
- 💼 LinkedIn: Victor Menasce
- 📺 YouTube: The Real Estate Espresso Podcast
- 📘 Facebook: www.facebook.com/realestateespresso
- 📧 Email: [email protected]
Y Street Capital:
- 🌐 Website: www.ystreetcapital.com
- 📘 Facebook: www.facebook.com/YStreetCapital
- 📸 Instagram: @ystreetcapital
