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Updated over 5 years ago,
Investing in Commercial Office Space
I am a Real Estate Broker and I have been crunching numbers on a deal for months. A year ago I purchased 6 office condos below market value, renovated them, and rented them. I also occupy one unit and partners occupy another. We are looking at another deal in very close proximity to our condos. They are two separate buildings not a part of an association. I have run the numbers, built models, evaluated pro-forma, but I am still nervous about my assumptions and my assessment of the market condition. I am thinking about engaging a more experienced commercial agent to review my numbers, provide their numbers, provide strategy consultations, etc... Part of me wants to just hire someone but the other part of me doesn't as I have done most of the work and am very capable of putting together a deal. I am interested to learn what value commercial agents bring to the table and what expectations I should have when working with a commercial agent.
For reference, my background is residential real estate brokerage services and residential investment that includes buy and hold as well as flips. My experience with commercial is limited to analysis and one building I bought and turned around. I have an MBA focused in Entrepreneurship and am a numbers guy.
This is my first time posting on here but I have read many of the books and have leaned into the site to guide me along with analysis. Thank you in advance for any advice you can share.