All Forum Posts by: R S

I'm hoping to make my first investment purchase soon with cash flow as the goal. I had planned on either doing a SFR or condo but recently had a crazy idea. I'm considering purchasing a 1200-1600 square foot office condo and then building out 4-5 "executive office" suites of 100-150 square feet each. I would outfit each with a locking door and then lease them out individually to professionals who need small single or two person offices.

I think this has the potential to create more cash flow than an SFR or condo in my situation and spreads the risk of vacancy nicely. Has anyone done this?

I am planning and researching my first real estate investment. Lately, I've been drawn to the idea of office condos for cash flow.

My plan would be to purchase an office condo somewhere in the neighborhood of 1000-1500 square feet and subdivide it into 3-4 individually rentable offices for professionals and other small businesses in need of single offices.

Has anyone dealt with an office condo? What are the drawbacks to this plan?

Thank you for the help!

Brand new member and hopeful first time real estate investor here. I'm very happy to have found this forum!

Because I only have around $15,000 liquid to invest, I'm looking to purchase a single family condo/townhouse as my first rental property. I'm hoping to put $15,000 down and leverage an additional $50,000-60,000 through a mortgage. I have a few basic questions about which steps to take first.

After forming an LLC, should I go and get pre-qualified for a mortgage first? Or should I begin looking for a property first and then get pre-qualified?

Speaking of getting pre-qualified, is it better to contact banks directly, or to go through a mortgage broker?

Should I work with a buyer's agent, or should I check listings on websites and then contact the individual agents when I see properties I think would be suitable? Is there a benefit to using a buyer's agent and doing everything through him or her?

Thanks very much for the help!