Archive for the ‘Real Estate’ Category

Instructions For Buying Commercial Properties

Saturday, May 30th, 2009

Buying commercial properties can yield profits if you get the best deal on it. Commercial properties may include office space, shopping malls, farm land, industrial property, medical establishment, retail stores and housing buildings. If you want to invest your money on commercial properties then you are required to go through a detailed process. Don’t rush into making decisions and owning a commercial property should be fulfilled only after making a complete research. Here are some simple instructions that you can follow to get the best of experience.

First of all, you could start by making list of things which you want in your commercial property. You should decide the size or the space of the commercial property that you are willing to buy. If you are looking for a commercial building then you should decide whether you want the building with tenants or the empty one.

After deciding what to buy, you should start looking at the monetary aspects of commercial property of your choice. If you are not in a condition to afford the total price of the commercial property then you can seek the help of a mortgage broker.

By consulting a mortgage broker, you will be able to determine the amount that you probably can afford to buy the commercial property. Moreover, a mortgage broker will provide you all the details about the type of financial lenders who possibly could deal with you. After getting pre-approval for your purchase, your next step is to find a professional realtor who is specialized in dealing with commercial properties.

You should consult the realtor and tell him about the property that you are willing to buy. If you are going to buy a commercial building to keep tenants then you should request the realtor to find a property which will be quite easy to rent it out. Moreover, you should ask him to find the property in such an area in the town that can easily be noticed by everyone.

One thing to keep in mind is that you should prefer buying commercial properties which are located at 40-70 minutes distance from your residence. This will help you to remain in touch with every details of your commercial property. Moreover, it will be easy for you in dealing with various issues like repairs and renovation of your property. You can also maintain discipline of the tenants by living close to them.

Buying commercial properties is a good way of investment that can offer some real profit. According to some professional financial analysts, the price value of commercial properties will meet a substantial increase over the following decade. So if you want huge profitIt, investing your money in commercial properties is a wise option. However, decide in advance the period you really want to own the property before investing in commercial properties.