There are so many options when investing in commercial real estate, it’s inevitable for countless questions to arise when selecting your first property. Here we’ll tackle questions that will help you narrow down your options. Let’s get started!
How much money can I invest?
Usually, warehouses are the easiest beginner investment. Warehouses and flex space, [which are gaining popularity by the day] are low maintenance commercial properties and are reasonably priced. If you’re considering office space or and retail, they are usually at a higher price point and require more of your time as an owner.
Is this property for my business or strictly an investment?
Your investment can be owner occupied or non-owner occupied – that doesn’t mean you have to stick to the same option forever. You can always start off as owner occupied and once you’re ready, move on to non-owner occupied or vice versa!
What amount of time can I dedicate to this investment?
Some commercial investments are high-yielding where you can comfortably live off of and some are less time consuming with more gradual, long term growth. Your property can either turn into your full time job or you could work your way up. In high-yielding properties, hiring a management company is also a solid option.
Who will manage the property on an ongoing basis?
You can manage the property and receive all the profit or you can hire a management company that will relieve the workload but will cut into your profit.
I'd be glad to guide you through the intricacies of finding your first (or next) commercial investment. You can click on the Buying menu item to get a glimpse of the process or simply give me a call. I'm always happy to help!