Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Austin Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

10
Posts
6
Votes
Jeff Abel
6
Votes |
10
Posts

Next investment opportunity?

Jeff Abel
Posted

Curious what others would be thinking about doing if you were in my shoes.

I'm an attorney (not in real estate) and have purchased a 11,000 sq building off Parmer to house my firm and have 1-3 other tenants (I'm presently renovating the 5500 sq ft second floor for my firm's use).  Even with a note in place, the property should cash flow pretty well, and with the CARES act, the interior renovations are subject to bonus depreciation rules, meaning, I believe I can expense the entire renovation as the costs are incurred and carry over the loss year to year until the renovations are fully expensed. 

Anyway, as I finish up renovations and get moved in, what kind of property would you be looking at? This purchase made sense to me b/c it's owner occupied. However, I'm not sure what direction to go for another property. Once my little project is complete, I was originally thinking of building or buying another building, and migrating my firm into it while looking to lease out the 5500 sq ft I'll occupy; basically looking to leap frog from one building to another with my law practice as the anchor tenant. But I'm not as attracted to that idea b/c it would be an office building: with all the subleases on the market, 100,000's of sq ft coming on the market in the coming year or 2 years, and perhaps a permanent shift to more work from home companies (or hybrid models), office REI would seem a
little dubious.

Thoughts?

Loading replies...