Investment Info:
Office Space buy & hold investment in Coral Gables.
Purchase price: $470,000
Cash invested: $470,000
Office space to lease
What made you interested in investing in this type of deal?
Wanted an office to own to use and ended up leasing it after two years of owning it.
How did you find this deal and how did you negotiate it?
LoopNet and and walking around Coral Gables and Coconut Grove, Boots On the Ground work.
How did you finance this deal?
No paid cash
How did you add value to the deal?
Updated floors added movable walls and painted.
What was the outcome?
Good investment
Lessons learned? Challenges?
Management commitments to update building, Possible forced sale when notes of buildings are purchased, It is getting harder in this area to buy office space in buildings
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No
