Commercial Real Estate Tips, Tricks And Advice
Brokers and transactions and closing costs and everything that else that goes into real estate, cause some people to be totally confused when it comes to dealing with commercial properties. In this article, you will learn some great tips and tactics to use, whenever you?re dealing with commercial real estate.
Determine if this property really fits into your portfolio before deciding to buy. Look at the growth potential and what your return on investment is going to be. It may be that your money is better off sitting in a CD in the bank than it will do being dumped into a venture that isn?t going to pay off.
When purchasing a property that you intend to rent out, keep it close to home. You don?t want to be driving further than you would consider a reasonable commute. With a rental property, there is always the possibility of needing to drive out in the middle of the night to deal with an emergency on the property.
If you are thinking of selling off a large parcel of commercial real estate you might want to think about breaking it up into smaller pieces. Often smaller plots sell at higher prices per square foot. Also, offering smaller, more manageable pieces of real estate may expand the pool of potential buyers for your property.
Get your financing taken care of in advance. Down payments on commercial properties are normally higher than on residential properties. That being said, lenders are more lenient about where you get the down payment money from, often allowing you to borrow the money from someone else. But before making an offer on a commercial property, talk to a number of different lenders, as you may not qualify for a loan from all of them. The last thing you need is to have your offer accepted, only to find that you can?t get a loan.
You don?t have to be confused when approaching commercial estate. It may seem daunting at first, but there are many ways you can work within the system and still come out on top. By using the tips you read in the article above, you can begin to solidify your position and work from there to profit in a bit way, whether you?re buying or selling.
Source: http://dominbenito.com/2012/03/24/commercial-real-estate-tips-tricks-and-advice/
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