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Janice T.

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Experience: Real Estate

Member since May 2019

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1 Review by Janice

5/22/19
As a matter of fact, commercial real estate frequently offers more lucrative opportunities than residential real estate. The good opportunities can be tougher to find, though. The tips presented below will help you understand the different uncertainties in commercial real estate, so you can make smarter purchasing decisions.

Examine socioeconomic conditions in the neighborhood you're thinking of purchasing commercial real estate in. Pay special attention to the unemployment rate, and the average income level in your property's neighborhood. If you're looking at a property that's close to things like a university, employment centers, or a hospital, they're likely to sell fast, and at a high value.

There is much more time and work involved in purchasing a commercial property rather than a residential property. The added time and effort are crucial, however, to getting the return that you want on your investment.

If you are hesitating between different properties, buy the larger of the two. If you will be financing the purchase, you should take into account that doing so will require just as much time and effort for a small lot as it will for a larger lot. This works in the same way as buying bulk items from Costco. You buy large numbers of items to pay less per item.

When you are choosing real estate brokers, you should find out the brokers' experience level in commercial real estate. For better results they should specialize in the specific area that you want to buy or sell in. Then if they meet the criteria you are looking for, you can agree to work with that broker exclusively.

You should try to understand the NOI metric. In order to be successful and stay profitable, watch this number closely, and take steps to make certain it does not fall into the negatives.

When advertising your available commercial property, do so locally, but also regionally and even nationally. Don't be mistaken by the thought that locals will be the only people interested in your sale. In many cases, a private investor will be interested in a property even if it's not in their area, so long as its price is a good one.

Now you have the basic tools of real estate investment. Keep learning more and adopt a flexible attitude. This will put you in a position where you can capitalize on amazing opportunities which others miss, and end up making a deal which brings you great profits.

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