How To Be A Leader In Commercial Real Estate | Tic Tracker

Industrial property and other commercial properties are going up on the market all the time, but this type of property does not get preferential listings like regular homes. You must know where to look, and this article will give you some tips so that you know just the right places to find good commercial properties.

Always go through the disclosures of an agent before hiring him or her. It is important that you realize that you may be entering a dual agency transaction. What this means is that your chosen agency has an interest in buying and selling the property. In other words, an agency simultaneously provides services to both the landlord and tenant. Whenever dual agency is part of a transaction, it must be disclosed to both parties of the transaction. Both sides must also agree to the dual agency.

Prior to negotiating with the lease of your commercial real estate, try to decrease anything that could be a default as you can. Your tenant will be less likely to default on the lease if you do this. You don?t need this to happen.

TIP! Use your blog to establish an expert reputation. This will help potential buyers and leasees find you.

Commercial rental buildings should feature sturdy construction and simple details. You will be able to attract tenants for these properties more quickly due to the fact that they will know the building is well maintained. Such buildings also usually need fewer repairs, which is an advantage for the tenants, as well as the landlord.

Before initiating a purchase, be sure that you are negotiating with a customer-focused company. If you work with a company that only cares about its own profits, you might lose money on preventable mistakes.

Be on the lookout for sellers who are motivated. Locate the ones with eager ambitions, who could possibly let a property go beneath the current value on the open market. When you find the motivated seller, you?ll find your deal; nothing can happen before then.

Consult with your tax adviser prior to purchasing any property. A tax adviser will be able to tell you how much the buildings are going to cost you and how much of your income is going to be taxable. By taking your adviser?s advice, you may be able to find a location where the taxes are less.

TIP! When purchasing commercial real estate, it?s important that you understand the property you?re purchasing may be a lifelong investment. You could make an avoidable error by buying a property that needs a lot of upkeep in the future.

Make sure you know who does emergency maintenance work if you rent commercial property for your business. Be sure to find out who takes care of maintenance in the building and also who handles emergency repair situations. Have the phone numbers on speed dial, and know how long it generally takes stuff to get fixed. Make an emergency plan once you have this information. If a flood, fire or break-in interrupts your normal business day, you need to have a plan in place so that you can re-open as soon as possible.

Finding the proper commercial property is just half the battle. Having the proper knowledge can take you far.

Source: http://tictracker.com/how-to-be-a-leader-in-commercial-real-estate-2/

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