27 June 2012
Posted by Dennis under: Key West Commercial Real Estate .
If you want to rent your commercial property, well built solid buildings are your best bet. Tenants will be more likely to rent space in this type of building, as it looks taken care of. Not are the buildings more sturdy, there will be less maintenance issues for the owner and the tenant.
Don?t make any big real estate purchases until you?ve evaluated the unemployment rates, income levels, and expansion rates of the area. Think about what locations are near where you are thinking of buying. Hot spots are usually around places like hospitals or universities because the surrounding neighborhood is going to be more lively and open with jobs available.
Read the disclosures when you?re ready to hire a real estate agent. Try to beware of dual agency. In this sort of situation, the agency acts as both parts of the transaction. This means that the agent is representing the interests of the lessor and lessee simultaneously. You and the other party should both agree if dual agency is to be okay.
Inflation should be at the top of your mind when considering purchasing commercial real estate. The days when leases used regular adjustments to protect you against inflation are over. This is not the case today, leaving you completely vulnerable to inflation losses.
Do not approach commercial estate as an easy way to make money. You need to put in a tremendous effort, which involves a big initial investment and a lot of time, to give yourself the best chance of success. But, even when everything seems to come together nicely, profit can be elusive.
For more information about Key West Commercial Real Estate contact Gary Smith at http://www.keywestlifestyle.com
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