Assure Property Solutions Inc.
Commercial Real Estate Investment - Purchasing Single-Family Homes
When looking at Commercial Real Estate properties, it is not uncommon to see the term "AST". This stands for Commercial Real Estate Thoroughfare. What this means is that the road or thoroughfare leads to an area of high commercial activity. It could be your local supermarket, your local pharmacy, a bank, a gas station, an industrial park, or any other business. One example of a commercial thoroughfare is a major highway such as I-70.
The purchase of Commercial Real Estate can lead to many different types of financial benefits. These benefits can include tax savings, job creation, increased property value, and savings in operating expenses. There are many different types of Commercial Real Estate. Some of these types of commercial properties include: apartments, office buildings, warehouses, manufacturing facilities, hotels, retail shops, tracts, parcels, development projects, manufacturing facilities, and development projects. So the main goal when buying Commercial Real Estate is to find one that is located where it will provide the greatest benefit to the buyer.
In buying Commercial Real Estate, it is important to understand the different types of inspections and how they can impact the purchase. The first type of inspection is the 'Home Buyer's Inspection'. This will consist of a visual inspection of the building by the buyer. This visual inspection is normally done by the buyer's personal inspector. This will include everything from the roof, exterior, foundation, and electrical systems. If there are any problems that are found during the Home Buyer's Inspection, the seller will need to make the necessary repairs prior to closing.
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Purchasing Commercial real estate involves many different advantages; one of which is owning multiple small business properties. When purchasing Commercial Real Estate, it is important to research which areas in a city will be best for your small business before purchasing them. Some areas are better suited for multi-unit buildings, while others are better suited for single-family homes. Some cities have a great demand for owning commercial property, but not a great supply. Once you figure out where you want to invest, it is time to begin researching Commercial Real Estate properties.
Another advantage to purchasing Commercial real estate is purchasing property that will need little maintenance. The next step is to make sure you are working with a good commercial realtor. A good commercial realtor will have Multiple Listing Services available to them so they can find the perfect Commercial Real Estate properties. If they find a great deal that cannot be purchased through traditional methods, they can offer it to the buyer for less than what they would get if the property was sold on its own. Also, make sure the commercial properties you are looking at are actually vacant buildings; this can save you a lot of time and hassle.
The next thing you want to do before purchasing Commercial real estate is contact the local officials. Some local governmental entities are eager to help Commercial real estate investors obtain property. To find this information you will need to look at the Yellow pages under "commercial properties" or "real estate investors". The other way is to go online and use Google or any one of the many search engines to look up the name of the city or county. The government often posts information about open houses and such on their website.
After you have decided on a location and purchased some vacant buildings, it is time to put together your investment portfolio. This may include anything from vacant lots to retail and office space. Commercial real estate investors usually work with several different portfolios so they can pick the perfect ones for their specific needs. If you are going to purchase the property with the goal of making a profit you need to make sure you know when to buy, where to buy, and how much to pay for each piece of property you purchase. Having a well-developed investment portfolio will allow you to make more successful purchases in the future.
Once you have decided on a few different pieces of property and established a solid portfolio of several commercial real estate investments, you are ready to make an offer on a single-family house. If you are buying a single-family home you should always set the asking price at least two to three percent below the market value. The reason is that the seller may be motivated to lower the price if there is a low demand for single-family homes in the area. If you are planning to live in the house you purchased you should also set your purchase price at least five to ten percent below the owner wants to sell.
Assure Property Solutions Inc
374 Hartman Rd #1
Kelowna, BC V1X 2N1, Canada
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