Updated about 1 month ago on . Most recent reply
Office Building Acquisition - Waynesboro, VA
Investment Info:
Office Space commercial investment investment.
Purchase price: $275,000
Cash invested: $55,000
Newest Acquisition. Office Building in Waynesboro, VA. 1,577 SQ FT space, in amazing condition. 8 parking spaces.
What made you interested in investing in this type of deal?
Long term vision of BPG
How did you find this deal and how did you negotiate it?
On Market, submitted LOI
How did you finance this deal?
75% Debt, 25% Equity.
How did you add value to the deal?
Lease placement will increase value significantly
What was the outcome?
Leasing up currently
Lessons learned? Challenges?
Was going to use our hard money lender to acquire, but they didn't do commercial so I went traditional bank financing. Took more money down.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
BPG Residential agent Alex York.
- Cassidy Burns
- [email protected]
- 540-960-1507