Commercial property is a very exciting endeavor, however, it takes a ton of work. You may be wondering where to start. Figuring out the ins and outs of commercial real estate isn’t always easy, but in the following paragraphs, you’ll learn some essential tools of the trade.
Bring your digital camera along, and use it. Be sure that you have any and all defects present on the pictures you take (things like holes, discoloration, or spots).
The location of your commercial property is key to its value and its potential suitability for what you have in mind. Think about the neighborhood your property is located in. Look at the growth of areas that are similar. By calculating growth in similar areas, you will be able to ascertain whether the piece of property you are looking at is going to continue growing.
Unit Apartment Complex
If you trying to choose between two or more potential properties, it’s good to think bigger in terms of perspective. Obtaining adequate financing is a major undertaking, whether you opt for a ten-unit apartment complex or a twenty-unit apartment complex. Generally, this is much like the principle of buying in bulk; the more units you buy, the lower the price per unit.
When you are picking a broker, make sure you know if they are experienced within the commercial real estate market. It is important that their experience fall in line with your buying and/or selling goals, so make sure to ask what their specialty is. Make sure you find an exclusive agreement that works for you and your broker.
Clearly, owning and purchasing commercial property takes work, effort and research so that your experience is as favorable as possible. Perseverance is also a necessity in this business. If you abide by these guidelines, you will be that much closer to securing a lucrative commercial real estate deal.
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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