Real estate is a very stressful activity, even if this it not your first transaction; many who are experienced in commercial real estate sometimes find it a little overwhelming, too. The advice of the following article will guide you through the often confusing and complicated world of commercial real estate, and hopefully see you better prepared for succeeding in it.
You can post to social networking sites, and you should also send out newsletters about your commercial properties. Don’t go online just to make deals and then fade into obscurity once you’re finished. Be a regular participant in social media so that you can increase your customer base.
Make sure you consider any possible environmental problems. For example, hazardous waste materials are a major red flag for any property. You are responsible for these problems if they occur on your property, even if you are not directly responsible.
Find your financing before you do anything else. Commercial lenders and real estate are much different than simply buying a home. In many ways they may be better than a residential loan. Although you have to pay more upfront for the property, it’s worth it because you won’t be held personally liable if the deal falls through. In addition, you can borrow down payment funds from people you know to secure a commercial loan.
Make sure you are completely aware of the available square footage. In commercial real estate, square footage can be reported in usable square footage only, or the total square footage which would include walls and unusable space as well. By knowing both measurements, you will have a smoother time dealing with the property.
Your business needs should be in check before seeking out commercial real estate! Determine the type of office space you’ll be using. If you’re interested in eventually expanding your business, buy more office space than you currently need. This saves money in the long run because prices may be higher by the time you’re ready for more office space.
Do a walk-through of each property on your short list. It may be a good idea to take a professional contractor with you when you check out properties you are interested in purchasing. Make a proposal early, and get into the beginning stages of negotiation. Carefully look over any counteroffers you receive before you make your final choice, whatever that may be.
Establish what you need before searching in commercial real estate. You should write a list of which features are most important to you. For example, do you need a specific number of restrooms, a specific amount of square footage, or a conference room?
Finding and buying a commercial property can be a hassle no matter how many times someone has done it before. The purpose of this article is to reduce the stress of looking for commercial properties and to make this a pleasant experience.