Get Into Commercial Real Estate With This Advice | Eric Chua : Life ...

As a matter of fact, commercial real estate offers more profit potential than even residential properties represent. Finding good opportunities can be difficult. Here is some advice to assist you in making better informed decisions regarding commercial property investments.

Use your digital camera to take photographs of every room from all angles. Make sure the picture shows the defects (such as spots on the carpet, holes on the wall or discoloration on the sink or bathtub).

Your investment might prove to be time-consuming in the beginning. It can take a little time to find a property worth purchasing, and you also may have to make necessary repairs. Don?t throw in the towel due to the massive hours needed. You will be rewarded later.

TIP! Don?t be afraid to question any potential real estate agents, and ask for references. Your broker should be able to explain what standard they use to measure results.

Always make sure that utilities can be accessed from the commercial property you are looking into. The utilities you will need for your business go beyond electricity; you will also need water, sewer and gas, as well.

Properties, like people, have finite life spans. It?s important to be aware of this. You could make a big mistake by ignoring what you may eventually have to spend in order to keep up with the upkeep of the property. It may need a more updated electrical system, or a new roof. All building require maintenance, and some buildings require more expensive maintenance than others. It is important to plan ahead so that you will be able to make the needed repairs.

Seek the council of an experienced real estate attorney to help you with your commercial purchase. If something goes south in your property adventures, then you want the best backing you up to keep your reputation sound and protect you from threats.

TIP! Don?t be led by hype and fads when searching for commercial real estate. Do not rush into making quick real estate decisions.

Dual Agency

When searching for a real estate agent, keep their disclosures in mind so you know who they are working for. Make sure you understand the potential for the existence of dual agency. In a dual agency the Realtor represents both parties of the transaction. In other words, an agency simultaneously provides services to both the landlord and tenant. If there is a dual agency, everyone should be honest about it and find an agreement.

Whether you want to rent or lease, you will have to deal with pest control. Getting pest control covered is especially important if you are renting in a building or area that has had previous pest issues.

TIP! Think about long-term economic conditions before investing in real estate. Be prepared for large-scale inflation during the next couple of years.

When you?re in the market for commercial property, find your lender prior to making an offer on it. Get recommendations from friends and fellow investors before choosing a local lender. Find out more about these lenders, and then choose the one that you feel is best suited to your needs. Do this prior to starting the commercial property purchase process. You will find the process of getting your loan to be much easier when you have taken the time to get all of your details arranged ahead of time.

When making decisions between one commercial property and another, think big. Finding the right bank to finance you might be hard, even if you are going for a smaller building. Also, purchasing more units is like buying in bulk. The more you buy, the cheaper each unit will be.

Be aware of the potential tax benefits of investing in commercial property. Depreciation benefits and interest reductions are given to investors in commercial real estate. ?Phantom income? is a taxed income, but not income received as cash. Take this possibility into account when drawing up an investing plan.

TIP! One of the biggest threats to investors of commercial real estate is fluctuating interest rates. In the current volatile economy the interest rates are rising and falling without warning, which can also dramatically affect the cost of financing an investment.

Send out a monthly enewsletter, or update your investors by using Facebook or Twitter. Don?t go online just to make deals and then fade into obscurity once you?re finished. Be a regular participant in social media so that you can increase your customer base.

Real Estate

Now you know how to go about investing in commercial real estate. Remain flexible and balanced when you are navigating the commercial market for real estate. This will help you find the good opportunities, and make the most out of your time, efforts and investments.

TIP! Look at any environmental impacts or prior EPA issues with the property. You are responsible for cleaning up your building from environmental waste.

Source: http://www.maynaseric.com/get-into-commercial-real-estate-with-this-advice-3

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