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Updated over 4 years ago, 08/02/2020

User Stats

10
Posts
6
Votes
Jeff Abel
6
Votes |
10
Posts

Next investment opportunity?

Jeff Abel
Posted

Curious what others would be thinking about doing if you were in my shoes.

I'm an attorney (not in real estate) and have purchased a 11,000 sq building off Parmer to house my firm and have 1-3 other tenants (I'm presently renovating the 5500 sq ft second floor for my firm's use).  Even with a note in place, the property should cash flow pretty well, and with the CARES act, the interior renovations are subject to bonus depreciation rules, meaning, I believe I can expense the entire renovation as the costs are incurred and carry over the loss year to year until the renovations are fully expensed. 

Anyway, as I finish up renovations and get moved in, what kind of property would you be looking at? This purchase made sense to me b/c it's owner occupied. However, I'm not sure what direction to go for another property. Once my little project is complete, I was originally thinking of building or buying another building, and migrating my firm into it while looking to lease out the 5500 sq ft I'll occupy; basically looking to leap frog from one building to another with my law practice as the anchor tenant. But I'm not as attracted to that idea b/c it would be an office building: with all the subleases on the market, 100,000's of sq ft coming on the market in the coming year or 2 years, and perhaps a permanent shift to more work from home companies (or hybrid models), office REI would seem a
little dubious.

Thoughts?

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