Austin Real Estate Forum
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago, 08/02/2020
Next investment opportunity?
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?