Are you considering getting into the commercial real estate business? To start, you’ll want to carefully consider what area you’d prefer to get involved in. Are you looking to purchase a building to use for your own business, to rent out, to build equity or something else entirely?
Here are some additional questions to consider before you start investing:
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What kind of property are you looking for?
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What’s your situation regarding cash, financing, and the ability to make a down payment?
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How much time can you commit to the property?
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Are you willing to perform the duties of a landlord?
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Are you ready/willing to make an investment/purchase of this size?
It’s best to tour many different properties in order to figure out what works and doesn’t work for you. You’ll want to consider the most important things for each one, including price, location, condition, and allowed uses. From there, weigh their pros and cons. Which one rises to the top of the pros list and meets the most needs all around? The importance of location can’t be overemphasized, so you’ll want to give top priority to this distinction.
Buying commercial real estate is a complex process. You’ll want to work with experts in the field, particularly an accountant, commercial real estate attorney, commercial realtor, and a mortgage broker to help with many of the steps. A real estate law firm in Austin, TX, will help you to dot all of the i’s and cross all the t’s. Contact Bukowski Law Firm at 512-614-0822 for assistance with your commercial property investment.
