All Forum Posts by: Brandon Cox

Thanks. I have leased for roughly a decade. Was going to lease again, but kicking around the idea of buying 

Decent office space is hard to find in my area - mainland side of Hilton Head Island and it's Bluffton or Okatie.  I've been watching for a few months to try and find a space to rent.   I found a brand new project and it's about 1450 SF and it's a modern building with parking with a shared elevator, stairs, and lobby.  The building is one of 3 buildings and each one is approximately 10,000 SF each.

These are some prices - 38/ft NNN with NNN estimated at $9/SF. Price to buy is $525/FT.

Do these numbers make sense on buying?  It's a nice space and I'd rather buy for my stable financial services business if it makes sense.  I assume you negotiate the price same as any other purchase.  They are breaking ground soon and my thought is that they are trying to sell "if they get what they want."  

I'd consider going into without a realtor and making a lower offer.  700k instead of 760k for example.  My experience is the listing agent talks them into these deals wanting paid twice.  Any thoughts in general?

Great advice on student rentals guys. I’ll probably hold on to them. If you think about worse case scenario, we basically went through it with no classes and the rent kept coming. 

Thanks to everyone 

 Yea that’s basically it. Hard to set goals when you don’t know where you’re going. Just overall return perhaps, since I do invest in the stock market and believe in it, especially since the fed seems to hate downturns 

I should add that I own a 200k lot that I intend to build a 4 unit property on. I owe about 85k on that lot. Project may end up costing close to 7 figures. Can’t pull the trigger on the build with this current market, but at some point. 2 residential and 2 commercial. I’ll occupy one of the commercial units and it will help me in my business as well 

I have two rental units side by side in a college town - Georgia Southern. They are 4 bedroom, 4 bath, and they share the common spaces. They met the 1% rule when I bought them and I couldn’t find much at the time that did. I paid 167k each and I did a 1031 of about 50k in gains and split it. I know I’ll have to pay taxes. Some may disagree, but I did 15 yr mortgages so they would pay off when my kids start college. As it turns out, I’ll probably have enough in 529s within a year or two so that isn’t a realistic goal any more.  I’ve owned them 2.5 yrs.

They have always made me nervous, but even on the 15 yr mortgage, they continue to cash flow. I had been worried about overbuilding there, since I bought mine brand new and they kept going up. Rents have basically stayed steady. Now covid. Building has stopped, I can get 220k I think, and they would no longer meet the 1% rule. Not sure if they will ever come close. Considering pocketing 100k each on them minus the taxes. Should I sell?  

Thanks in advance