{"id":164,"date":"2019-08-21T19:13:22","date_gmt":"2019-08-21T19:13:22","guid":{"rendered":"https:\/\/www.kars4kids.org\/real-estate\/stories\/?p=164"},"modified":"2020-07-06T11:37:23","modified_gmt":"2020-07-06T11:37:23","slug":"donating-building-nonprofit","status":"publish","type":"post","link":"https:\/\/www.kars4kids.org\/real-estate\/stories\/donor-case-studies\/donating-building-nonprofit\/","title":{"rendered":"See How Larry Benefited by Donating 2 Buildings to Kars4Kids"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">His Building Was Ridden with Violations. Donating to a nonprofit Was the Solution.<\/h2>\n\n\n\n<p>Larry, a real estate developer from Michigan, had two\nproperties that he had purchased from the bank a year earlier. Both properties\nwere causing him grief. One property was a vacant multi-family home in poor\ncondition, and the other was a commercial building slated for demolition, with\na demolition order that Larry could not appeal. <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>Larry didn\u2019t want to invest more time and expense in these properties, as he had many other business opportunities to pursue. So he approached <a rel=\"noreferrer noopener\" aria-label=\"Kars4Kids (opens in a new tab)\" href=\"https:\/\/www.kars4kids.org\/real-estate\/\" target=\"_blank\">Kars4Kids<\/a> with his predicament and we agreed to move forward with the donation. It was the right decision. For Larry.<\/p><\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\"> Donating a building to a nonprofit worked out<\/h2>\n\n\n\n<p>After closing, Kars4Kids discovered that the commercial\nproperty was incapable of restoration. The home was rife with violations. We\ndecided to retain the services of a demolition contractor who flattened the\nbuilding, after which we relinquished the property to the municipality. <\/p>\n\n\n\n<p>The good news is that we were able to sell the apartment\nbuilding and the proceeds from the sale covered legal fees and the cost of\ntearing down the building. The moral of the story? Real\nestate is a risky business, but when you\u2019re working with Kars4Kids, the risk\ndoesn\u2019t have to fall on you. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>His Building Was Ridden with Violations. Donating to a nonprofit Was the Solution. Larry, a real estate developer from Michigan, had two properties that he had purchased from the bank a year earlier. Both properties were causing him grief. One property was a vacant multi-family home in poor condition, and the other was a commercial [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":165,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[26,4],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>See How Larry Benefited by Donating 2 Buildings to Kars4Kids - Kars4Kids Real Estate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kars4kids.org\/real-estate\/stories\/donor-case-studies\/donating-building-nonprofit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"See How Larry Benefited by Donating 2 Buildings to Kars4Kids - Kars4Kids Real Estate\" \/>\n<meta property=\"og:description\" content=\"His Building Was Ridden with Violations. Donating to a nonprofit Was the Solution. Larry, a real estate developer from Michigan, had two properties that he had purchased from the bank a year earlier. Both properties were causing him grief. 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