Industrial and commercial properties are sold regularly but do not expect to see listings like you would for a regular home. You have to successfully find them by hunting, and the advice in this article can assist you in doing so.
Use a digital camera to take pictures. Each photograph should clearly depict the point of contention, whether that happens to be a stain, hole or other problem.
If you are new to investing in real estate, spend some time surfing online resources that house information that seasoned investors use. You can never know too much when it comes to commercial real estate, so never stop looking for ways to obtain more information!
Be certain the commercial property you are considering has good utilities access. Your business may have unique utility needs, but at the very least, you probably require hookups for electric, sewer, water and most likely, gas.
Consider the surrounding area when you buy a piece of commercial real estate. Purchasing in an affluent area may help your business to be more successful, since the potential clients may have deeper pockets. However, if your products or services cater more to those with less funding, consider a location in a neighborhood that fits your potential clientele.
Write an easy-to-understand letter of intent, focusing on the biggest issues. You can worry about the little things later on. The negotiations will become less tense and you will be able to better get an agreement on the more small problems.
If you are viewing more than one property, you may wish to create a checklist for each site. Don’t go any further than 1st round proposal responses, unless you let the owners of the property know. You may want to offhandedly let the owners know that theirs is only one of a few properties in which you are currently interested. It could even get you a good deal.
There’s more to commercial real estate success than finding the right property, that’s only half of what you need to do. Learning a little bit can help you immensely.
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