Line of Credit
The Desire to Own Office Space
The man who now owned the real estate company wanted to reduce costs and increase his assets. He decided that the best option might be to purchase the building where his office space was located. While this would take more money than simply paying rent every month, it would make the building his own. In the process, other businesses operating out of the building would pay rent to him. The building was in a great location and the operator of the real estate business knew it would be a huge benefit to have it as his own.
The Cost of Real Estate
This was a family business that the owner was determined to make successful for those who came after them. Taking the reins and moving up was the only solution that was possible in his eyes. Thankfully, the office building was up for sale so it was easy to determine if it was something he could follow through with. In the end, the property was priced at close to $2 million. This wasn’t the kind of money that was just sitting around. However, the owner was still interested and wanted to make it happen. He knew it would take work but was ready to get his hands dirty.