The Office Hack to Reduce Operating Expenses

[Tyler Casey]

Investment Info:

Office Space commercial investment investment in Pittsburg.

Purchase price: $305,000
Cash invested: $40,000

Four Unit Office Building. We operate out of the corner unit.

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

Great Location Right on Broadway. I needed office space following a partnership dissolution. This building looked like it could make the perfect office hack. It is a four unit building. When I purchased it there were two occupied units and one in need of renovations. My tenants are now a CrossFit Gym, a retail store and a hair salon. It is great not having a lease payment every month.

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

It was on the market. I represented myself as my buyers agent. I was able to negotiate with the seller to carry a 2nd mortgage of 10% of the purchase price.

How did you finance this deal?

80% bank loan, 10% owner carry 2nd and 10% Cash.

How did you add value to the deal?

I negotiated the owner carry and managed the renovations to make the building fully rentable.

What was the outcome?

A free office space from which to operate my businesses.