June 20, 2019
When it comes to commercial real estate investing, everyone has to start from square one. Investing in commercial real estate for the first time can present you with a fair share of decisions to make that will impact the overall success of the deal. Finding a commercial property for sale that meets your business needs and budget is part of the equation, but you also need to be aware of a few common pitfalls that first-time investors make to give yourself the best chances for success. Below, we will provide you with details on some of the most common mistakes that first-time commercial real estate investors make.
One of the biggest mistakes that first time commercial real estate investors make is planning as they go. The key is to try to anticipate issues and problems before they actually happen so that you are always prepared. Investing is very similar to starting a business. You would never go and start a business without creating a business plan. The same holds true for investing in commercial real estate. You should create an investment plan and strategy that considers the future before you purchase any commercial property.
Your exit strategy in a commercial real estate investment is one of the most important aspects of making money from your investment. This tip goes along with planning ahead. You should always be thinking about what exit strategies will help you maximize your return on investment. There’s nothing worse than being trapped in a deal because you didn’t create a proper exit strategy.
Being successful in the commercial real estate world means surrounding yourself with a great team. You want a great property manager, a solid leasing team, and maintenance professionals that will help you protect your investment. This is even more crucial during the search for a commercial property. Reaching out to a great brokerage firm like the RakowGroup can make all the difference in the world.
Connect with the RakowGroup today if you have any questions about your first commercial real estate investment.
November 9, 2020
The term “commercial space” refers to any property that is not residential, ranging from garages and high-rise office buildings to medical centers. A great office lease can make business operations more productive, create a sense of professionalism and reliability for potential clients, and improve employee satisfaction. The area you choose could also make or […]
August 7, 2020
It’s no secret that the world we live in today looks a lot different from what it did a few months ago. COVID-19 (Coronavirus) has completely altered companies’ needs for office space, with about two-thirds of the U.S. workforce working from home during the pandemic. Some studies suggest that between 25 and 30% of […]
July 7, 2020
The Risk-Free Podcast · Episode 3 – The Future of Commercial Real Estate with David Richman With state economies slowly reopening, people are cautiously embracing optimism as they venture back to work and stores while navigating through an unfamiliar environment. Though we may be heading back to offices, nothing about our often-quipped “new […]
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