5 Things to Consider When Purchasing Commercial Real Estate
What type of property are you wanting to buy?
- There are many options when considering the purchase of CRE. Are you looking to invest in multifamily, retail, industrial or office properties? Are you looking for a free-standing building, an entire strip center, or maybe a unit of an office condo?
Are you an owner/user or an investor?
- Consider the reasons you are buying CRE. Do you need a place to start up or expand your business? Or are you looking to invest by leasing the space after you buy?
Location Location Location!
- Picking the location is key in buying real estate. Maybe you want to be in a heavily trafficked location or maybe you need to be near a rail spur. There are many options to consider.
Are you willing to be a hands-on landlord?
- Managing your own property can be a ton of work, so consider if you are willing to hire a property manager. How much time do you have to commit to this property?
Hire an expert
- Hire an expert who specializes in your product type. For your retail space hire a retail broker. Office space hire an office broker. For your industrial space hire a broker experienced in dealing with warehouses on rail lines. For multifamily, hire a multifamily broker.