May 16, 2019
The commercial real estate world offers endless opportunities and possibilities for savvy investors. However, there are plenty of mistakes that people make every day when they are investing in commercial property for sale. If you aren’t well-versed in commercial real estate terminology or are new to investing in office space real estate, you need to tread lightly. Making mistakes in commercial real estate can be very expensive. You can always work with a great commercial real estate brokerage firm like Rakow Group to avoid major issues. Keep reading on to learn about some big mistakes to avoid when you are investing in commercial real estate.
It doesn’t matter what type of commercial property for sale you are purchasing; if you don’t have a good property manager to handle things for you after the investment, you are making a huge mistake. A property manager can handle everything related to tenants, keep you stress-free, and provide you with more time to do more valuable business activities. A great property manager will take your investment further in many different ways, so don’t neglect finding the best person for the job.
After you purchase commercial property for sale, you probably want to focus on filling the space up with tenants. If you have to spend time and money on improving the property so that tenants are interested in signing a lease, keep that in mind before you purchase the property. Vacancy is very expensive for business owners, and if the property will be vacant for an extended period of time it can take a lot of money for the investor to start seeing positive returns. Try to keep vacancy in mind when you are working on valuations for office space real estate.
The best investors in the commercial real estate world take their time to make the best possible decisions. If you are in a rush to buy commercial property for sale, it can end up costing you big time. Negotiating and due diligence take time. This is a reality in the commercial real estate world that should not be overlooked. Just because you are very interested in a property doesn’t mean you should skip out on the important steps needed to make the right decision.
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 […]
July 1, 2020
In commercial lease negotiations, most company owners and executives have much less experience and knowledge than the landlord or leasing agent who is sitting across the table. Adding a commercial real estate broker to your team will give you more leverage, rights, and flexibility at no cost to you. Traditionally, landlords have a commission […]
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