I have one potential tenant who wants 3 out of the 4 offices and a few other possibilities lined up who might be interested in the 4th.Here are some factors to the decision:My ultimate goal is to buy and hold properties for a long period of time so that once they are paid off, this will be my retirement income (I'm currently 35).While I have a positive cashflow on my first property, I don't have a lot saved up at this point that I could put towards a downpayment for the second property.I talked to a banker who, based on my current finances, would finance 100% of the property, 5 or 10 year loan, 4.5%, amortized either 20 or 25 years.So...from my perspective that looks like $0 down other than closing costs, and tenants lined up who are interested in the office.One problem is that given the asking price, and what the monthly mortgage + operating costs would be, the rents for the 4 offices would be 20-25% higher than the market rate.The potential tenant who is interested in the 3 offices is willing to pay that because there are some unique characteristics that they are specifically looking for that would be hard to find somewhere else.Let's say that tenant is willing to sign a 5 year lease initially.

I was going to contact them in the morning.

Good morning Guys!

Sometimes it can be cheaper to build than it is to buy existing however in most areas of the country right now it will take you minimum three years to develop a project and ground up get it to stabilization so you need to consider the time factor.

The only time it would make sense is if speed is a factor - meaning you can get an amazing deal on the property but must close super quickly - something most banks simply cannot do. 

Which brings me to my ultimate point.The BRRRR method is dependent on many factors, but the single most important factor is the rent you can achieve.

The latter will allow you to hit the ground running once you decide to actively pursue properties which could be a major determining factor in landing a deal in an area you desire.

Good morning everyone,I would like some advice.

These are actually key factors why we choose to live in that area.

I rent in a college town and typically have a waiting list for people to get into my properties so I never factor in vacancy issues either.