Should I invest in office space?
I am not sure if this is a good thread to post here in this section but I want to know if it is worth it. As of now, I will be working from my home office. I know a lot of realtors that work by themselves will meat clients in public places like coffee shops and fast food chains in their area for convenience.
Would it be better to have an established office building or is this okay when you are just starting out?
5 answers
If you can afford to pay for an office, I would say go for it. It's more professional to have an office where people can see you at. I have plans to start my own company soon, and will for sure be implementing an office into it. I don't like the idea of meeting potential buyers at a restaurant or something like that. It doesn't need to be a big office either. I would just rent a small room at a public mall or something, and that should work just fine imo.
If you are just starting out, it is likely not a good idea. It would be considered a loss in terms of investing. You will want to get a few sales under your belt and work your areas of sales before investing in an office space. Just focus on public meetings for now.
I didn't invest in an office space until last year and I have been selling homes for over 7 years now. I think it is one of those things you can easily do without if you stay organized. I just wanted a work space away from home to keep on top of things easier so I rented out a small space to function as an office.
Many people are drawn to investing in commercial property, and admittedly it can be a very lucrative venture. One of the most obvious benefits of investing in this type of real estate is that there is definitely earning potential through collecting rent from the occupants.
I think you should. Office buildings can be very profitable, and long-term leases mean less management than with residential income properties.The downside? Nothing seems to go up and down as much as office rents and office occupancy rates. Investing in office buildings can be very profitable. A friend of mine bought the office building that his law firm was renting, and rented it to his company. It generated cash flow from the start. Now that the original mortgage is paid off, the net income is a sufficient retirement plan by itself.