i don't do anything small
 

ok, first venture into commerical real estate...

got a offer in on a 24,000 sq foot office building here - will know in a month after all bld inspections and what not if i buy it or not. till then it's secured with my deposit.

if all goes well it turns into about 100 small office rents with shared receptionist and board rooms.... starting with 100 renters LOL

started out cause i wanted to RENT one small 150 sq foot office with shared receptionist and board room and such and the only ones that existed here SUCKED so i figgured there has to be a market for it.

same priciple as sleazydream at the first - making what I wanted as a consumer.

so i needed 150 sq feet and bought 24,000


i think i need my head examined

haha dude that sounds awesome! Also sounds like BIG business....

Is the capital you needed from Mr Bank Manager, or personal funds?

I guess if you've already secured renters then it's not a problem anyways :)

bank, mine and an investor.

have to renovate to get to 100 offices so it is a bit of a gamble actually

That's a great example of "being part of the SOLUTION" :)

that sounds really big business...........

You're gonna START with 100 renters? Does that mean you already have 100 people lined up to rent, deposits in hand?

Congrads and hope the inspections goes well.

Can't wait to see it ;-)

If you found it hard to get some good office space for yourself then you're right in assuming tons of other people are finding the same problem. Without too many details it does sound like a good deal for you.

All the best with it, hope it works out for you.

Sounds like a good plan. I have actually seen that business model before. There are also buildings that rent out like that for individual meetings too.

Good luck man!

Just a heads up but this is a management intensive situation. Otherwise i know a few people that do this vry well.

Sounds like your already balls deep into this.
I hope you considered that it will take anywhere between 2-4 years to fill all 100 offices, and that most opperations of that scale, have 5-6 office empty at any time during renovations.
Also, you should vary the size of each office, and make avaiable for expantion into other units- Ie, when your first tenants move in, spread em out, so that if they grow they can grab the office next to the one they already rent.
Shit- I'm going back into property management mode...there was a reason I quit that job:winkwink:

Good luck

This post is worthless without any pictures.

Congrats. Sounds like a good move.

that's awesome. hope all your inspections come back good and you have have some good tenants. Could be a great investment! Do you have a management group that will be handling most of the tenants for you?

Someone should set an outfit up that does this with virtual offices online yet you get a phone number and mailing address as well. You login to get your voicemails and msgs etc. :)

I'm a customer of exactly this kind of business, except we don't use the premises. They get our mail, send it back out, and if we're ever in Las Vegas, we have a place to have meetings, conduct business, work out of, etc should we need it.

They will also answer phones for us, but we don't need this.

That means you'll be managing 100 people/companies. Sounds fun!

Actually I'm betting you already have somebody or a service lined up to take care of this for you. Sounds pretty fun. Though I wonder, you really only wanted a 150sq foot office?

nice move

good luck with the deal :thumbsup any new ambushes in the making? ;-)

I believe he was referring to the thread title when he wrote that sentence, not implying he had 100 people lined up to rent.

Good luck on that SD - it's not going to be easy but could potentially be quite a windfall.

there are tons of companies already doing this

That's really exciting. Looking forward to hearing how this turns out for ya.

Do we have to call you Mr. Dreams, or Lord Sleazy now?
Sounds great good luck to you.

congrats and best of luck

Sounds like http://www.hq.com/ BTW, if it goes through, see if removeable or sliding walls are an option when renovating so customers can expand their offices easier. I have no idea if this is possible, just a thought.

You'd be surprised how many people need an office that small and how hard it is to find it. I have 2 of these myself, one for me and the other for staff. These are mostly for short-term leasers but the demand is certainly there.
WG

With such a 100 renter risk spread a nice managed scenario.

Good luck Scott !

;-)

Executive suites like you're opening are pretty popular with small businesses who don't want to eat all the costs of running a complete office. Sounds like a good bet.

that lightspeed cash T was pretty small ;)

Gooo man gooo hope it rocks

Huuuuuzaaaah

good luck :-)