Cat clinic converted to Wellness center buy and hold

[Alexandra Schrank]

Investment Info:

Office Space buy & hold investment.

Purchase price: $375,000
Cash invested: $450,000
Sale price: $375,000

Old cat clinic turned into a wellness center

What made you interested in investing in this type of deal?

Short sale, good value, high growth location

How did you find this deal and how did you negotiate it?

Sat on the market for 1+ years. Prospected to listing agent and he told me seller was under water and I could low ball

How did you finance this deal?

Cash

How did you add value to the deal?

Remodeled/converted to different use

What was the outcome?

Wellness center - improving the community, supporting local business, passive income/mailbox money

Lessons learned? Challenges?

Remodeling takes time and patience

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself!