1st commercial purchase

[James Darville]

Investment Info:

Office Space commercial investment investment.

Purchase price: $150,000
Cash invested: $25,000

I purchased this building through my RE company, JS Homes, LLC and I charged my IT company rent for the first 2 and half years. I recently relocated that business and now I am renting it out to a daycare center.

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

affordable and it was the perfect size for my IT business at the time.

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

Loopnet. Worked with listing agent and negotiated the deal myself. Original asking price was $165K

How did you finance this deal?

Bank financing.

How did you add value to the deal?

Got it for less, it is valued at $250K even though it has not been appraised officially.

What was the outcome?

Still own the property building up equity.

Lessons learned? Challenges?

Should have refininced the deal before rates went up.

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

No