When selling or buying commercial real estate, make sure that everything is in order. Even if you know a lot already, you might miss something important if you don’t keep learning about commercial real estate. Read on to get some insight into commercial real estate investing.
In order to learn more about the commercial real estate market, find a website that caters to investors of different skill levels. You can never have too much knowledge.
Make sure that you know and understand what “NOI” (Net Operating Income) is. In order to be successful, you will have to make sure that you never dip into the negative.
Check out where the utility hook-ups are on any commercial property. Your business has utility needs of its own, but you will also need water, electric, sewer and maybe even gas.
Consider the surrounding area when you buy a piece of commercial real estate. If you buy property in a very affluent area, your business will likely be successful, because your clientele will be better able to afford what you are selling. If your product or service tends to appeal primarily to lower or middle class consumers, look for commercial property in a more conservative neighborhood.
Take a look around properties you are interested in. It may be a good idea to take a professional contractor with you when you check out properties you are interested in purchasing. Use what you see in these tours to determine a fair opening offer. Judge the counteroffers prior to making a decision either way.
Make sure you know exactly what requirements you need to satisfy before you begin your search for commercial real estate. Write down everything you need in a commercial property, such as number of conference rooms, offices, restrooms and how much square footage.
There is always more to learn about real estate activity in the commercial markets. There is always more to learn and information is always evolving when it comes to real estate. Use this information wisely, and profit.
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1850 East 17th Street, Suite 117, Santa Ana, CA 92705, USA
Call Today: 714-543-4979 – Santa Ana Leasing Office by Atrium Property Suites