Many investors have purchased a primary home and may think the process is the same. Don’t be fooled, purchasing any type of commercial real estate has its own terminology, complexity and process. The following steps will guide you through the process.
The price is right!
The cap rate is good!
The location is good!
The cash on cash return is good!
Does the property have:
Any open permits
A 40-year inspection
Restrictions that may limit future intended use
The rate of return that was announced