Thinking of investing in real estate, or own a business and thinking about how you might reduce your G&A/Office expense or diversify your income? You may want to consider an owner occupied office.
This is an office building I owned in Lexington, KY when I was there. One section was individual office suites, that had two conference rooms, and the other two sections were open floor plans where we housed an insurance company and a construction firm.
Each month in my old office we were averaging about $750/ month in rent, and so I acquired this building through my real estate LLC, for slightly more than $400k, and took five of the office suites, and rented the rest. The rents from the office suites covered the mortgage, and the rent from the larger units were deposited in my real estate LLC, and helped pay for my beach condo. ⬅️😉. As @thachnguyen says "use passive income to pay for your toys!”
This situation was ideal because we occupied the building, and I had a team of maintenance people I could pull from the restaurants to fix any issue that arose, but it also made me realize moving forward, (I am not handy 🤦🏽♂️😂). I didn’t want to be a hands on landlord, and would rather have someone manage that process for me.
Be receptive to retail rental real estate. It may cost more to enter, but the rental contracts could be longer (3-5 years), and even though you may be dealing with a corporation or small business owner, you could still protect yourself by wrapping them up with personal guarantees etc.
If you want to kick a franchising or real estate deal around, reach out and let’s connect. 📱🤔
ALWAYS consult with your attorney and CPA before investing or signing any binding documents. ~BYA
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#diversification #multiplestreamsofincome #realestate #rentalproperty #rentals #commercial #commercialrealestate #realestateinvesting #realestatetips #businessownership #franchising #profit #franchisee #cashflow #ceo #ceomindset #wealth #wealthbuilding #wealthmindset #wealthylifestyle #lifestyle #invest #investinyourself #officehack #grindnowshinelater #patience #money #moneymoves #millionaire #byaeveryday
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