Investment Info:

Industrial buy & hold investment.

Purchase price: $395,000
Cash invested: $40,000

Commercial flex space building I bought as a challenge from a buddy of mine.
It was a HUGE learning experience as my first commercial deal but I wouldn’t change it.

I just finished a cash out refi on it this week. By doing that I lowered my payment by $150/m and put $40,000 in my pocket tax free.

What made you interested in investing in this type of deal?

My buddy said I couldn’t do a commercial deal

How did you find this deal and how did you negotiate it?

I found it on loopnet or crexi

How did you finance this deal?

with my bank

How did you add value to the deal?

at this point I have kicked out tenants, revised leases to be more landlord friendly, pulled an insurance claim to redo the roofs on both buildings, the garage doors, all the siding and then I spent my own cash to remodel the inside of the larger one while vacant and the tenants have remodeled the smaller one.

What was the outcome?

Being able to get the building stabilized for a refinance.

Lessons learned? Challenges?

The obstacle is the way

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My Team