sunflowerkiss

Am just in the throws of exchanging contracts on an office block i have just bought and am sh!ting myself!! I know its the right thing to do but its gonna soooo **** up my cashflow. Words of reasurrance please needed

PG

You don't wanna do that !!

Deep Singh

Is it occupied? Whats the return ( %) ? What kind of tenants?

sunflowerkiss

I have been renting office space for the past 7 years and did a MBO less than a year ago. My landlord has just put the rent up to £20k plus £2k maintance charge on a building that has wasps dropping out of the light fittings and the floor is moving!!!!! ( caught up in th Brum tornados last year). Have found an office for £320k, which in the long run is cheaper than paying rent!

sunflowerkiss

Thanx for your help

Luan Pra bang

JUst do it and get the bank to help if you need to extend your cash flow for a while. It is much better to own a freehold than to pay rent.

TopBanana

Many a business has gone under following that thinking . It depends on the circumstances

Deep Singh

Difficult to say as TB says depending on situation. Saying that I'm still a firm believer that with well bought property you can't go wrong in the long run

MJW

The easiest way is to form a seperate property company to buy the building, then rent it to your own firm.

richardg

that's what i'd do. know lots of people who have done exactly that and it works well for them