All business owners know the risks associated with running their own company and how taking some of those risks can greatly reward them. At Links Financial, we understand this concept and are here to help make sure that business owners willing to take big risks reap the rewards of doing so. That was the case in one of our Real Estate transactions in St. Petersburg, FL.
Our client owns a successful property management company that had been in business for over 15 years and had three office locations in Florida, including Ft. Myers, Sarasota, and St. Petersburg. The St. Petersburg location was small and our client had outgrown the space, so he wanted to seize the opportunity at hand when a former photography studio went on the market. The space was awkward and needed renovations in order to be used for our client’s purposes, but he had a vision in mind and was set on it. As a savvy property manager who had already made it through the great recession, our client was willing to the risk of getting this property and reached out to Links Financial for assistance.
Our client needed help with financing both the purchase of the building and its renovations. Since the client was willing to put his own cash into the investment and personally guarantee the debt, Links was able to get him all the financing he needed to acquire and renovate the property. When all was said and done, the renovated office building appraised for $65,000 more than the cost to purchase and renovate the new office building combined. That is what we consider a great investment!
Are you looking to invest in a piece of Commercial Real Estate? Talk to the experts at Links Financial first.