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.
May 11, 2020
In these unprecedented times, there is not a business that hasn’t been affected in some way. Many companies have had to close their doors temporarily. Others have learned that it is possible to operate their business with all staff working from home. While we are not through these challenging times, there are signs that […]
March 31, 2020
As a small business that has built deep relationships with our clients and our community, we have been searching for a way to help our fellow businesses and we believe we can. We know our clients and the business community overall are focused on keeping their employees safe at the same time as […]
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 commercial property for sale that meets your business needs and […]
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