Office Condominium Acquisition

[Phil Sneed]

Investment Info:

Office Space commercial investment investment in Round Rock.

Purchase price: $216,000
Cash invested: $41,000
Sale price: $240,000

Office Condo

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

It was an owner-occupied investment a small business I own.

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

Searched office space within the target sub-market of Round Rock that would meet the start-up needs of a third-party logistics firm.

How did you finance this deal?

substantial cash down with remainder financed through conventional bank loan.

How did you add value to the deal?

No material improvements were made to the property.

What was the outcome?

The five-year objective for office space was met with acceptable ROI

Lessons learned? Challenges?

Office condominiums do not appreciate significantly in value

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

Yes, my wife.