Second Commercial Investment Property

[Alicia Ortiz]

Investment Info:

Office Space buy & hold investment in Pomona.

Purchase price: $1,025,000
Cash invested: $1,025,000

Commercial Investment Building with 6 units

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

Once we bought our first commercial property, we decided to relocate our main office which we had been leasing since 2012, and so we look into an office building

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

We have a great relationship with our Landlord, and he recommend a building that he had previously sold to a big school. The school decided not to relocate, and put the building in auction.

How did you finance this deal?

We bought it all cash

What was the outcome?

We were able to relocate our main office in Pomona CA for the Insurance Business.
We pay us a higher rent, and deducted as expense on the Insurance side
We have 5 tenants that will pay the loan!

Lessons learned? Challenges?

We weren't sure how an auction worked, and when we close the deal, everything went so fast that we were not able to use a loan and did all cash. Now, we are in the process of refinance, but is taking forever...maybe we could've bought another property already. Again, lack of knowledge!