Few good real estate cash flow deals
John Vanhara It is really hard to find good cash flow deals especially in less expensive price range. I don’t say they don’t exist, but there are not many of them. I got pretty lucky in summer 2004. Las Vegas market was pretty hot at that time. Residential real estate was going through the roof. Prices jumped from $100 per sq. foot to nearly $200 and later even above that.
At that time I was looking to purchase some office for my growing company. I saw listing for commercial office condo. The size was 1,000 sq. feet (2 private offices, lobby/reception, bull pen, bathroom and coffee area). It was too small for my needs, but the price was irresistible. Price per sq. foot was only around $100!
I wrote offer. Asked for small discount and got the office for $100,000. I got it rented out in a week after closing. The rent is bringing over $1,000 per month and I cannot complain about anything. When comparing to rents I could get on residential property and price I would pay this was really great deal.