Did you know that whether you are buying Commercial property, for your own use or as an investment, there are three steps which can help you make a solid, less stressful investment?
1. Always know your market – and what need you will fill.
- Most Commercial Real Estate (CRE) is based on pretty basic needs, such as:
- Shelter: Multi-Family, Senior Living, Assisted Living Facility (ALF) and Single Family Homes,
- Services: Retail, Studios, Labs, Offices and Manufacturing, and
- Storage: Self-Storage and Industrial Warehouses.
2. Don’t fall in love with any property before completing your due diligence.
- This should be done in a timely manner, as it may save you money and sleepless nights.
- Is the property you are considering in a location that is appreciating?
- Look at the surrounding area for signs of developments and improvements.
3. Enlist the help of a licensed real estate professional to assist you in making informed decisions.
- An agent with experience can explain and guide you through all the nuances of the process.
While it is important for buyers to be familiar with the markets they are interested in, there is no substitution for the seasoned professional – who can help you refine the raw data, as well as protect and promote your interests and concerns throughout the searching and acquisition process.
Location, Location, Location – is the most important consideration when it comes to investing in Commercial Real Estate (CRE), according to Yog Melwani of Align Commercial Real Estate.