Our first deal and anchor for our real estate investing future

[Nate Nadeau]

Investment Info:

Office Space commercial investment investment.

Purchase price: $675,000

This property is a 24,000 SF commercial office and warehouse space containing 19 Units.

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

A family member was interested in getting out of the property.

How did you finance this deal?

Roughly half financed through a local bank with line of credit for renovations the other half was owner financed. We were able to purchase with $0 money down due to the assessed value.

How did you add value to the deal?

The assessed value pre-purchase was 1.25 Million. We spent about $100K in renovations in the first 3 months which led us to an ARV of $1.475 Million.

What was the outcome?

When we took control of the property we managed to only loose 1 tenant after going up on rents across the board. At this time we are fully occupied and we are cash flowing well. We have used our equity in this property to obtain a $350,000 line of credit from our local bank to fund future investment properties.