I first found 1719 Broadway over a year ago. It is in a great spot. There are about half a dozen law firms within a few blocks of mine, and that is because our area is adjacent to downtown as well as close to the courts of Little Rock. When I first looked at it, the building needed a lot of work. I estimated 20-30k minimum based on what all needed to be replaced. I could not figure out how to get the financing to both buy the building and do the upgrades.
Well, I checked in periodically and eventually another person bought it at a very nice price. The seller actually went to the same law school as me and runs his own law firm. He was doing the same repairs I wanted done. I figured if I offered to buy it I would save them the trouble of finding a buyer and maybe be able to work out a deal that put a fair amount of money in their pocket while keeping the costs down on me. Looks like it worked out.
I am set to close on April 27th, 2011. I cannot wait to move in and start representing people.