Wednesday, October 24, 2012

You Can Get Involved In Commercial Real Estate | Eric Chua : Life ...

There are lots of reasons why you must consider an investment venture related to commercial real estate. But these reasons must have something to do with a basic knowledge you have acquired about this particular business. The more you know about commercial real estate, the more you can make. The advice and tips shown below will be a good foundation for you as you begin to learn more about commercial real estate, or give you more information to build on your current level of understanding.

To initiate a commercial loan, the prospective borrower must first request an appraisal. If someone else orders the appraisal, the bank cannot use it for the commercial loan. Protect yourself from this problem and get the appraisal done on your own dime.

Creating your own real estate blog can help to establish you as an expert in the field. This is a good way to attract potential buyers and tenants.

TIP! Have a professional do an inspection of your commercial property prior to you listing it as available on the market. Have any issue that the inspector finds repaired right away.

Emergency Repairs

Always include emergency maintenance on your list of need to know things. You should ask your landlord who is in charge of handling emergency repairs. Have a list of phone numbers to call if you need emergency repairs, and know how much time it usually takes for repairmen to arrive. Utilize the information given by your landlord to develop a plan for emergencies. This will help you ensure your reputation or customer service is not tarnished while your business is disrupted.

One way to do this is to use the internet. Either send out a monthly commercial real estate newsletter, or be active on social media related to commercial real estate. Maintain an online presence, and don?t just disappear when the deal is done.

TIP! Aim to avoid default before you sign a real estate lease. This lowers the chance that the person renting will fail to uphold their end of the lease.

When buying commercial property, think about the socioeconomic status of the neighborhood around the building. Purchasing a property in a neighborhood that is filled with well-to-do potential clients will give you a lot better chance of becoming well-to-do yourself! However, if your products or services cater more to those with less funding, consider a location in a neighborhood that fits your potential clientele.

Think about feng shui principles when arranging furniture in both home offices and commercial buildings. De-cluttering and open spaces are two key tenets, both of which are attractive to buyers.

Research and learn more about the Net Operating Income, a commonly used metric for commercial real estate. In order to be successful, you will have to make sure that you never dip into the negative.

TIP! Before you sign a lease, find out about pest control. If you are renting a space that has known vermin problems, be sure to find out exactly who is responsible for pest control.

Square Footage

Be sure about the correct square footage available. The usable square feet is the measurement of where business will take place in commercial real estate. Total square footage can also be used, however, this encompasses all space including unusable space and walls. Know how many square feet for both, so that you can can make the process run smoothly.

If you have to choose between two different properties, consider the benefits of opting for the larger amount of space. Whether it be a twenty or ten unit apartment complex, you want to get adequate financing to back you up. You may have a better price, figured per unit, on the larger apartment complex than on the smaller one.

TIP! Try to consider all the kinds of environment problems that could raise their heads. One big concern is hazardous waste on your property.

If you are investing in commercial real estate, be aware that dramatic inflation over time can have a negative impact on your results. Leases use to have a built-in clause for adjustments related to Consumer Price Index rates, protecting the signers from inflation. However, these days, this is rarely done, which means inflation could hit you where it hurts the most.

The introduction mentioned that no matter what reasons you have for choosing to invest in commercial property, you need knowledge to succeed. Apply the advice from the preceding paragraphs towards your commercial property dealings and you can be well on the path to maximized profits and rewards.

Source: http://www.maynaseric.com/you-can-get-involved-in-commercial-real-estate

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