Time to rent office space?

[Tony Pellettieri]

Our Business has been growing rapidly as we've employed our capital in the acquisition department. Currently we're at 7 doors and nearing the completion of our first $50/sq ft rehab. We have two new construction projects getting ready to break ground, 2 cash out delayed financing loans in process, and almost at the end of our first debt cycle, getting ready to emerge into the next phase of our growth stage. We've decided to scale back on acquisitions and have started scouting out talent to add to our team to be better prepared for what's to come.

While interviewing a potential new company Integrator yesterday, he asked if we had an office space. I told him we did not but the question has had me wondering if the time has come, or is near. We are getting ready to start hiring team members as our business grows and I was wondering if anyone could offer some insight on when the time is to get office space and what possible benefits and downsides deciding to do so has.