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Commercial Real Estate Tips You Need To Know Right Now

By Andrew John Cocks | Muskoka Cottage For Sale

An investment in commercial property can be made for many reasons. No matter what you reason, you should be able to articulate a clear investing goal based on solid facts. You can make a lot from commercial real estate by learning more about it. Below, you’ll find some great tips to help you start your commercial real estate career, or to add to your already wide breadth of knowledge.

Before purchasing any property, you should investigate its area to determine the average income level, unemployment rate and whether or not that area is growing. Properties located near major employers, like hospitals, schools or distribution centers, are often more in demand at every price range.

Use of a digital camera is a simple and effective strategy. Take pictures of the damages, for instance spots and stains, holes or even discoloration on the bathtub.

Prior to investing massive sums of money in a property, take a hard look at community income averages, as well as employment rates, and how much hiring and firing nearby businesses are doing. If your house is near a hospital, university or other large employment centers, they will usually sell quicker and also, at a higher value.

TIP! Take photographs of the property. Make certain that the pictures show irregularities, such as holes or bad paint on walls, carpet stains, and bathtub or sink discoloration.

Pest Control

Pest control is something you should look into when renting or leasing a property. Getting pest control covered is especially important if you are renting in a building or area that has had previous pest issues.

Location is a very important part of commercial real estate. Take the neighborhood of the property into consideration. Compare its growth to similar areas. By calculating growth in similar areas, you will be able to ascertain whether the piece of property you are looking at is going to continue growing.

You must be patient to succeed as a real estate investor. Make decisions calmly and slowly–don’t be in a rush to buy a piece of property. Don’t jump into a new investment too quickly! If the property turns out to be wrong for you, you will regret your decision. Stay patient; it could take a year or more for the perfect property to materialize.

TIP! If you are new to investing in real estate, spend some time surfing online resources that house information that seasoned investors use. There is no such thing as having too much knowledge, so it is always a good idea to learn as much as you can.

Once you have narrowed your choices down to two major contenders, you should expand your decision to include the big picture. Whether it be a twenty or ten unit apartment complex, you want to get adequate financing to back you up. The concept here is the same as any other situation where you are purchasing multiple things. The more you purchase, the less you will pay for each unit.

When choosing brokers with whom to work, find out the amount of experience they have dealing with commercial properties. Be sure that they specialize in the area that you are buying or selling in. Entering into an exclusive contract with that particular broker is a good idea.

Educate yourself on the meaning of net operating income (NOI), a term associated with commercial real estate used for investment purposes. Make sure you are staying in the black to be successful.

One of the most critical considerations for valuing a commercial property is its physical location. Consider the neighborhood of the property. Also, consider local growth projections. You’re not only thinking about the here and now; you want to look a decade down the line too. Pick an area with the potential for sustainable growth.

TIP! When choosing a broker, ask about their experience specifically in the commercial real estate market. Make sure that they are experts in the area in which you are selling or buying.

You have to think seriously about the neighborhood where a piece of commercial real estate is located. If the property is located in a prosperous area, your business is more likely to succeed because your potential customer base is going to be wealthier. If the business you run caters to a lower-income demographic, buy in an area that fits your clientele best.

Prior to listing your commercial property for sale, have it checked out by an inspector with at least five years of experience. Fix all problems that they find as soon as possible.

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If you plan on renting out your commercial properties, find simply and solidly constructed buildings. These spaces are more likely to fill quickly with paying tenants who are drawn towards something that is well maintained. These types of buildings are easier to fix for everyone and they might not need as many fixes.

TIP! Always make sure that utilities can be accessed from the commercial property you are looking into. Water and sewer access will be needed in addition to electricity.

Before hiring any real estate broker, read all of his disclosures. Watch for possible dual agency. In this situation, the agent will represent the buyer and seller. This means the real estate agency will work as the landlord and the tenant. When it comes to dual agencies, both parties should actually agree to it and it should be disclosed.

As previously mentioned, you may want to invest in the commercial real estate market for a variety of reasons. However, no matter what your reason may be, you need to be knowledgeable about the subject. By using the advice in this article, you may find great success in commercial real estate.

“Protecting YOU Is My Passion”

– Andrew John Cocks
Real Estate Broker

PS: Have you seen these Muskoka Cottage Real Estate Listings?

Sensible Commercial Real Estate Tips

By Andrew John Cocks | Muskoka Cottage For Sale

Selling or buying commercial real estate is a very rigorous process. Even if you are experienced, you might find out about something new or improve your understanding of something you thought you were familiar with. The following tips and techniques will help you understand all of the aspects of commercial properties.

You should take digital photos of the condition. Make sure the picture shows the defects (such as spots on the carpet, holes on the wall or discoloration on the sink or bathtub).

If you are looking to lease or rent, the issue of pest control is a critical one to address. If the area that you are renting in is known for pest infestations, it is especially important for you to talk to your rental agency about their policies for pest control.

Regardless of whether or not you are the seller or the buyer, negotiate! Make certain that your voice is heard, and do what it takes to find a fair property price.

TIP! Location is the most important factor in choosing a commercial property to buy. Neighborhood is important, even when you are looking at commercial property.

Location is a very important part of commercial real estate. You will want to consider many things, including the neighborhood that the property is located in. Compare its growth to similar areas. What you are seeing now in terms of commercial potential might be very different a few years from now.

When starting out in commercial real estate, it is important you understand the measurement labeled Net Operating Income, or NOI for short. To be a success, you need to be able to stay on the positive number side.

If you desire to rent out commercial real estate, then you need to find solidly yet simply constructed buildings. Tenants are more likely to move in when they know the property is well taken care of. These properties are also more cost effective for you and your tenants due to the fact that they only require minimal upkeep and repairs.

If you have to choose between two different properties, consider the benefits of opting for the larger amount of space. Getting the proper financing is going to the same hassle for a retail building with ten outlets as it would be for a retail property with twenty or even thirty units. This is generally like buying something in bulk, the more you buy, the less it is is per unit.

TIP! With the commercial property, you need to make sure there is easy access to the utilities. Your particular business might need additional services, such as cable, but at the minimum there should probably be sewer, water, phone, electric and gas.

Check out where the utility hook-ups are on any commercial property. Every business requires certain utilities, most commonly things like water, sewage and electricity.

Ensure that you have reviewed your contracts before negotiating leases so that you minimize the chances of default. This decreases the chances that the tenant will default on the lease. You want to ensure this doesn’t happen at all costs.

Before you begin your search for the perfect commercial property, have a clear picture of your needs. Make a list of the property features most important for you, such as square footage, number of offices, conference rooms, and restrooms.

Look at the surrounding neighborhood before you decide on purchasing a specific commercial property. Purchasing in an affluent area may help your business to be more successful, since the potential clients may have deeper pockets. However, if you’re offering services that less wealthy people may be more interested in, you probably want to purchase property in a less wealthy area.

TIP! Advertise the commercial property to both locals and non-locals. Most individuals make the error of thinking that only the people in their area are the ones interested in purchasing their property.

You may have to make some repairs or improvements to your property before you can move in. These changes could simply be cosmetic ones as simple as a new coat of paint or moving the furniture around. Oftentimes, moving walls and other fixtures is required to redistribute the floorplan. Negotiate payment for these improvements ahead of time, and attempt to have the landlord pay at least part of the costs.

Commercial real estate agents come in different types. Some brokers represent tenants only, while full service brokers will work with landlords and tenants. If you hire a broker that only deals with tenants you may be better off, they are more experienced.

Regarding commercial loans, it is the borrower’s responsibility to obtain an appraisal. The bank will not allow you to use it later. Spare yourself further hassle by initiating the request yourself.

Before making a commitment, you should request tours of any potential properties. Even better, have someone who knows commercial real estate tour the properties with you. Once that is done, you can submit your proposal and begin negotiations. Carefully look over any counteroffers you receive before you make your final choice, whatever that may be.

TIP! Get a site checklist if you are viewing more than one property. Get the responses from the first round of proposals, but make sure the property owners are aware of this before proceeding.

Real Estate

Of course, it is never wise to assume you have enough information about any important financial matter, and this includes commercial real estate dealings. There is always more to learn and information is always evolving when it comes to real estate. Implement your knowledge effectively to boost your success!

“Protecting YOU Is My Passion”

– Andrew John Cocks
Real Estate Broker

PS: Have you seen these Muskoka Real Estate Listings?

Tips For Getting The Most Out Of Commercial Real Estate

By Andrew John Cocks | Muskoka Cottage For Sale

Commercial real estate is a very profitable business for some people. Of course, there is no single magic trick that will guarantee success. In addition to putting effort into buying and selling properties, you need to educate yourself about the commercial real estate market. You will become more successful as you gain more experience in the market. The article will explain in simple terms some strategies to get you started investing in commercial property.

Don’t be led by hype and fads when searching for commercial real estate. Do not be hasty about making a investment decision. You’ll regret it quickly if your lack of research results in a property without much re-sale value. Realistically, it can take upwards of a year to find the right investment in your local market.

Pest Control

You must be patient to succeed as a real estate investor. Make decisions calmly and slowly–don’t be in a rush to buy a piece of property. Do not make impulsive decisions. If the property doesn’t suit you in the end, you may regret your hastiness. It could take you twelve months or longer to get the deal that fits you perfectly.

TIP! Figure pest control into your rented or leased commercial real estate property costs. This is especially important if the region is known for certain types of pest infestations.

If you are renting or leasing, be sure to know about pest control arrangements. This is important in less desirable locations where rodents and/or bugs are an issue. Have your rental agent inform you of any associated policies for pest control.

Commercial real estate is more time consuming, confusing and involves more than just buying a home. The duration and intensity is necessary if your investment is to yield a high return.

You will probably have to put a lot of effort into your new investment at the beginning. First you have to hunt down a good deal, and then, after your purchase, you may be required to complete some repair work or remodeling. Do not let the lengthy nature of the process discourage you. Once you get the property ready, you will be compensated for years to come.

Take some time to visit websites that are devoted to commercial real estate. These sites have lots of information for both new investors and seasoned professionals. You can never have too much knowledge.

TIP! Pay attention to the location of a property. Take into consideration the class level of the neighborhood, other commercial properties surrounding it, and accessibility.

When you are picking between commercial properties, think big! Regardless of which way you choose, coming up with the capital is a common factor, so often times it will be be worth digging a little bit deeper to get the larger property in order to maximize your long-term profits. Think of it like purchasing in bulk; as you buy more, each individual unit costs less.

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If you are selecting a broker, ascertain the amount of experience they have had within the commercial real estate market. Make sure that the agent has the proper expertise with the type of real estate purchase or sale you are looking for. Once you find the broker you want to use, sign an exclusive agreement.

Your investment may require a large amount of time to begin with. The time aspect of the investment includes finding the property and making any repairs to the property. You should never give up because it is time consuming. Once you get the property ready, you will be compensated for years to come.

TIP! There are many things to consider when determining the best option between two commercial properties. When choosing between the two, think big! Finding the right bank to finance you might be hard, even if you are going for a smaller building.

As long as you are willing to put forth the effort, it is possible to become very successful in the industry. Keep this information in mind and apply it to your business. Make sure you continue to learn more about the industry, and seek out ways to improve what you are doing. The more experience you gain, the more likely you will become successful.

“Protecting YOU Is My Passion”

– Andrew John Cocks
Real Estate Broker

PS: Have you seen these Muskoka Real Estate Listings?

Check Out These Ideas For Your Commercial Real Estate

By Andrew John Cocks | Muskoka Cottage For Sale

Commercial properties are listed often, but you won’t see them in preferential listing like the residential listing for homes. This market requires a different set of skills in order to be successful, and with the following tips, you will be able to navigate it properly.

Use detailed photos to create this documentation. In the “before” photos, especially, make sure that the pictures clearly show defects such as stains on the carpet, discolorations in the tub and sink, and holes in the walls.

Pest Control

As you look for opportunities on the commercial real estate market, you should always be patient and rational. Do not go into an investment out of haste. You might find out that the property is not what you needed after all. It could take as long as a year to find the right investment in your market.

TIP! Commercial real estate involves more complex and longer transactions than buying a home. Know that the duration and intensity is essential to getting a higher return on the investment you made.

Before you consider leasing or renting, look into whether or not pest control is covered in the lease. This is important in less desirable locations where rodents and/or bugs are an issue. Have your rental agent inform you of any associated policies for pest control.

Initially, your investment will take up a great deal of your time. It will take time to find an opportunity that is profitable, and afterwards, you may have to wait for repairs and remodeling before you can start monetizing your investment. You should know what to expect and not give up. You will reap the rewards in the near future.

Always have an inspector look over your commercial property before you put it out on the market. If they should discover even a single issue with the property, repair or resolve it immediately.

When choosing between two different types of commercial properties, it’s best to look at things on a bigger scale. Obtaining adequate financing is a major undertaking, whether you opt for a ten-unit apartment complex or a twenty-unit apartment complex. Generally, it’s like buying in bulk. As the number of units purchased goes up, the cost per until will go down.

TIP! Make sure your asking price is realistic. Many things alter the value of your property.

You should go ahead and advertise any commercial property for both far and local people. Many people target their advertising to local buyers only, thinking that those buyers are their market. Many private investors find it appealing to purchase properties that are affordably priced outside of their direct area.

In writing letters of intent, focus on major issues to begin with. Many smaller issues will fall in line on their own with this approach. If not, you can work them out later. By focusing on the big stuff first, you will have more pleasant negotiations, and you will be better able to manage small matters in the end.

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It is important that each property offers unhindered access to utilities. Every business’ needs are different, but at a minimum, most businesses will need power, sewer and water services.

TIP! When you are looking at a commercial property, be sure to look at the neighborhood, too. Buying property in an affluent neighborhood is likely to mean that any business which opens there will be successful thanks to having a clientele with a large disposable income.

There are different types of commercial real estate brokers. Real estate agents will work with landlords and tenants, but there are also some that only work with tenants. It might be most beneficial for you to hire a broker who works exclusively with tenants. A broker with that focus will be more experienced in successful dealings with tenants.

If you think finding the perfect property is the main hurdle to surmount, you’re wrong. Remember, a little knowledge can really help.

“Protecting YOU Is My Passion”

– Andrew John Cocks
Real Estate Broker

PS: Have you seen these Luxury Cottages In Muskoka?

Advice To Help You Buy And Sell Commercial Properties Easily

By Andrew John Cocks | Muskoka Cottage For Sale

An investment in commercial property can be made for many reasons. At the same time, the choice to make this sort of investment must be your own, based on your own knowledge base. Your level of expertise will have a direct effect on the amount of money you’re able to get as a return on your commercial real estate investment. 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.

Use a digital camera to document the conditions. The picture needs to show defects like carpet spots, wall holes, or discolored sinks and tubs.

Always remain calm and patient when dealing with the commercial real estate market. Don’t jump into any investment without doing your research. You could end up finding that the property falls short of your total goals, making it a regretful purchase. Be patient, as it could take as long as a year for just the right investment property to turn up.

Whether you’re buying or selling commercial real estate, make sure to negotiate. Make certain that your voice is heard, and do what it takes to find a fair property price.

TIP! Take into consideration the local unemployment levels, average income, and job market before investing in real estate. Homes that are located near schools, hospitals and other major employers are assigned a higher resale value.

Pest Control

Before you sign a lease, find out about pest control. This is especially important when an area is known to have pest and rodent problems. Prior to signing a lease, ask your agent what the current pest control policies are.

Location is essential to the commercial real estate. Pay attention to the property’s surrounding area. The neighborhood’s demographics, including socioeconomic status and age of residents, influence the success of your investment. Compare its growth to similar areas. The area you buy in needs to have potential over the next 5 to 10 years.

Try practicing patience and remain calm, if you are considering purchasing any commercial real estate. Don’t rush to make an investment. You may soon regret it when the property does not fulfill your goals. You may have to wait months or even years to find the ideal investment.

TIP! If you are looking to lease or rent, the issue of pest control is a critical one to address. If the area that you are renting in is known for pest infestations, it is especially important for you to talk to your rental agency about their policies for pest control.

Residential property transactions are much less intricate and protracted than are commercial transactions. However, all of this is required because it facilitates higher returns on your investments.

It is always best to be aware of how your asking price is in relation to the market price. Different variables can have an impact of the value of a lot.

With the commercial property, you need to make sure there is easy access to the utilities. Your business has utility needs of its own, but you will also need water, electric, sewer and maybe even gas.

Location is just as important with commercial real estate as it is with residential properties. Consider how the neighborhood will affect business. Compare this neighborhood to the growth of other similar areas. If you make an investment in real estate, it is in your best interest to ensure that your property is in an area that will still be growing in five to ten years.

TIP! Commercial transactions are significantly more time-consuming, complex and involved than the home-buying process. You should understand that although this is a huge undertaking, when all is said and done you will receive a big return on the investment.

Be sure to have a professional building inspector go through your property before you put it up for sale. You can fix any problems right away so you have the best available property.

Tour any properties you are considering for purchase. You can even take a contractor with you to provide expert advice. Begin negotiating and the process of offers and counter offers. Make sure you evaluate any counteroffers well enough before you make any purchasing decisions.

When you are composing a letter of intent, you should emphasize simplicity by negotiating on the bigger issues first, then addressing the minor issues later in the negotiations. The initial negotiations will be less tense and the smaller issues will seem less important later.

When making decisions between one commercial property and another, think big. The difficulty in securing financing doesn’t increase linearly with the size of the building you are buying. This just reflects the general advantage of buying anything in bulk; when you buy a property with more units, you get a lower average price for each one.

TIP! When you are picking a broker, make sure you know if they are experienced within the commercial real estate market. Make sure that their particular business focus includes what you are interested in.

You need to know the details of emergency maintenance procedures. You should ask your landlord who is in charge of handling emergency repairs. Learn the phone numbers and response times. Take advantage of this information to devise a contingency plan in order to prevent and respond to customer complaints resulting from maintenance issues.

If you have determined that the commercial real estate market is for you, then make sure that you do all you can to get as much information as possible to ensure ongoing success. Use these pointers and you will increase your chance at maximizing your investment.

“Protecting YOU Is My Passion”

– Andrew John Cocks
Real Estate Broker

PS: Have you seen these Muskoka Cottage Real Estate Listings?