We are in route to purchase our 2nd office condo (we bought our first one last year). We live in Texas and given the recent surge we expect businesses to be booming in the upcoming decade. So we figured that now is the time to invest in office condos.
Now, our rationale is that the property you purchase is obviously going to appreciate in value, but in addition in about 5 years or so we should be making a profit from our tenants. We gave our first tenant a lower rent because it was COVID and we would rather offset a few hundred dollars rather than lose the thousands with an empty office.
By the end of this week, we will place our downpayment for our 2nd office condo. We don’t really care about immediate returns. Our whole idea is that in 30-40 years, these properties will become assets for the next generation and its better to put our money to work now rather than just keep a lump sum in the bank.
But I worry sometimes that there might be better investment methods that might yield more profits...does my strategy of purchasing office condos make sense or can I get more bang for buck elsewhere?
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source https://www.reddit.com/r/RealEstate/comments/kmtgxt/is_real_estate_currently_the_best_form_of/
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