What you REALLY need when looking for a commercial real estate deal
Finding a good commercial real estate deal can be tough. Like most deals, success in a commercial real estate investment start with a good blueprint. Here are five tips that will help you get started on your journey!
First, you need to be familiar with key commercial real estate metrics. Familiarize yourself with these terms: Capitalization rate, net operating income, and cash on cash and you’ll find yourself more able to assess what a good deal is.
Second, you need to plot out a plan of action. Do you have a solid business plan? How much can you afford? How many investors do you have? Having a plan of action will help you when getting preapproved and when shopping for potential commercial properties.
Third, look for motivated sellers. You’ll find that the cheapest deals are often priced so low because the person selling the property really wants to sell – their motivation is high.
Fourth, look online. Take advantage of technology to find off-market deals. You’ll have a chance to look at broader options if you find the right websites that cater to commercial real estate listings. There are even websites that serve as a private marketplace for commercial investors to securely move through an entire deal process.
Last but not the least, find the right agent. Work with professionals who have commercial real estate experience as they have the right knowledge and skills when it comes to negotiating and securing larger properties.
Are you looking for an agent to help you get started? Call me at [contact number] or send me a message at [email address] so we can get in touch!
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