The Latte Factor inspired me to buy BIG!!

[Yosselyn De Abreu]

Aloha! I’m Yosselyn and Im 28 years old. I own a small restaurant in Hawaii and business has been really good. I recently read The Latte Factor (if you haven’t read it, I highly recommend it!) and my newest goal is to try to purchase the small building where I rent my restaurant space or something similar to it. It has 14 rental spaces. My building is not for sale so I wanted to make an off market offer. I don’t know where to begin! If you have any advice, books, podcasts that can help me learn how to accomplish my goal that would be much appreciated! Thanks in advance 🙂

[John Rankin]

Hi Yosselyn! I work in commercial real-estate here on Oahu and can provide some pointers. Similar to what @Ronald Rohde mentioned first it is important to get an idea of what the property might be worth based on similar comps in the area. Then by calculating estimated revenue and expenses, will the net profit deliver an adequate return based on the market value of the property? And if not what would the sales price have to be in order to obtain the returns you are looking for. The next obstacle is obviously obtaining funds for a purchase worth millions of dollars. If you have any other questions or want to discuss further please reach out!