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?
@R S Terrific Idea, this depends on how much demand exists for smaller suites in your local market. For more ideas may be you should post this in Commercial RE forum as well.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.