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Questions To Ask Before Selecting Site For Commercial Property

Irrespective of nature of a business, one deciding factor that remains important to the success of a business is its location. Selecting the right property for your business would depend on its intended use and customer segment that you want to target.

Below are some important questions to ask when looking for a commercial property for your business:

  • Is The Title Clear?
    The buyer should be provided with a full report mentioning any encumbrances against the property. It is important to have a clear title and title insurance for maximum protection.
  • Is There Insurable Access To The Property?
    Simply having access to the property is not enough. For future development, financing or selling the property, access to the property should be insurable.
  • Are There Any Environmental Concerns That You Should Be Aware Of?
    To ensure there are no environmental concerns, ask for environmental assessments to protect yourself against unexpected costs and delays.
  • Does The Zoning Code Permit Your Intended Use?
    Ask the seller whether the zoning code of the city or county (that you are purchasing the property in) permits to appropriately use it for your business purpose.
  • Are There Any Liens Or Encumbrances Against The Property?
    Inquire whether there are any code enforcement liens, easement obligations, unsatisfied development or unpaid municipal liens that can lead to legal liabilities for you as the owner.
  • What Are The Municipal Design Requirements?
    To create an effective financial blueprint, ask about the municipal design requirements, permits and fees in the area. These requirements will shape your project and have an effect on your budget.
  • Are There Tenants?
    If the property has tenants, go through the lease agreement and ask whether there is a rent roll with the log of tenants, their deposits, expenses and other operating data to determine the accuracy of accounting.
  • Are There Any Issues With The Building?
    Ask whether there are any issues in the building that you should be aware of such as plumbing, electrical, roof, elevator, fire sprinklers, etc. Get the property inspected to evaluate the need for repairs, if any. Request for due diligence documents pertaining to all the systems in the building.
  • Are There Any Financial Records?
    Ask for financial documents related to the property prior to your ownership. The documents will give you a glimpse into the operating expenses.

John Reider Properties assists its clients in finding an ideal commercial property. The agency also offers commercial property management. For more details on things to know before selecting a commercial property site, visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX – 76548. You can also call at: (254) 699 – 8300.

Basics Of Selling A Home

The basic preparations needed to sell a home involve some important considerations like finding the right agent, attracting the right buyers and getting a fair price. All this can be done by planning, researching, consulting an agent and using the right strategies.

Here are few factors to guide you through the basics of selling a home:

  • Choosing A Listing Agent: This is one of the most important steps to start the process of selling a home. Choosing a listing agent offers great opportunities to attract the right buyers. However, it is essential to choose an agent after thorough consideration. So, check the agent’s experience, previous projects, etc.
  • Proper Timing: The time to sell your home will depend on factors such as current market conditions, condition of the home, value of your home, the area you live in, etc. Study the market and list your home for sale when the market seems favorable.
  • Preparation Of The Home: Prepare your home for sale by making necessary repairs and updates. Consider putting some efforts to improve the curb appeal of your home, revamp the flooring, repaint, get professional cleaning services, depersonalize your home, improve the lighting and so on.
  • Marketing Your Home: Plan a marketing campaign for your home with the guidance of your agent and make it a point to highlight the finest elements of your home. You can also post quality photographs and videos of your home for online listing on your agent’s website.
  • Showing The Home: Provide prospective buyers an opportunity to see your house by organizing house tours. This is a great way of showcasing your property and letting interested buyers get a real picture of your home. Ensure that your home is clean, smells fresh, has no clutter, etc. during the tour.
  • Setting The Right Price: Setting the right price is important to attract good buyers. So, research the market for prevailing price trends and set the selling price accordingly.

John Reider Properties assists its clients in selling a home at right price. The team also has years of experience in property management services. To know more about selling a home, visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX – 76548. You can also call at (254) 699 – 8300.

Ways To Thrive In Commercial Real Estate Market

Commercial properties include industrial buildings, warehouses, shops, office buildings, retail stores, etc. In order to earn good returns by investing in commercial properties, it is important to dedicate time, research thoroughly and have an understanding of about commercial real estate market.

Listed below are some tips to become successful commercial real estate investors:

  • Space Optimization: It is important to pay attention to space optimization. Consider a good design that allows you to design units with better layouts or add more units in a given space without making an individual unit feel crowded. This results in increased revenue.
  • Extra Services: To boost revenue, try to make the property appealing to prospective clients. You can do this by offering extra services such as cleaning and trash removal, installing vending machines for snacks and drinks in the hallway, offering ample parking space etc.
  • Strategic Increase Of Rent: Another way of maximizing returns is to increase rent. However, it is advisable to strategize the percentage of hike, timing and reason for increasing the rent. To deflect resistance, consider offering quality services to your tenants prior to raising the rent.
  • Maintenance: To keep your commercial property relevant amongst competitors and changing market trends, you should be prompt at maintaining it. Tenants are more likely to stay in properties that are repaired regularly and well-maintained.
  • Building A Network: Build relationships to create a network of trusted professionals including other investors, mortgage lenders, contractors, home inspectors, etc. You can consult and benefit from your network in case of any doubtful situation.
  • Marketing: Successful commercial real estate investors know the value of aggressive social media marketing and online advertizing. Learn ways to utilize social media for getting in touch with potential clients e.g. create a channel on YouTube to showcase the best features of your commercial properties.
  • Keep Learning: Learn about the latest marketing techniques for commercial properties and also educate yourself on the local area in which the property is situated. Get well-versed with the customer demographic, medical aid, transport options, etc. around your property to be at a better footing when striking a deal with clients.
  • A Mentor: A mentor can offer valuable advice on mistakes to avoid for successful investments.

John Reider Properties assist its clients in making commercial property investments. The company also provides commercial property rental and property management services. For more details on commercial real estate investments, visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX – 76548. You can also call at (254) 699 – 8300.

Strategies For Successful Commercial Property Investment

Investments in commercial real estate provide a number of benefits to owners. By owning a commercial property, a business owner can save on the rental which otherwise he would be paying to run his business. Investors can benefit from rental income as well as capital gain on the property. People usually invest in commercial properties like industrial space, office space, retail space, multi-use properties, land and multi-family properties comprising of four or more units.

The main skill, however, is to know how to sift out the best properties from the rest and know what characterizes a great deal. Following are some strategies that may be useful while investing in a commercial property:

  • Think Like A Professional: To be a successful commercial property investor, you have to think like a professional. Know the difference in the valuation of commercial property and residential property. You should be aware of the direct correlation between commercial property and its usable square footage. When dealing with commercial property the cash flow is higher e.g. the income from multi-family dwellings is higher than that of a single-family home. Another important distinction is that commercial property lease is usually of a longer duration than lease on single-family residences.
  • Chalk Out A Plan Of Action: It is important to set parameters when investing in commercial property. This implies that you should be aware of how much you can afford to pay for the property and shop according to your budget. Tools like mortgage calculators are handy for coming up with nearly accurate estimates about how much you can spend.
  • Learn How To Identify The Right Deal: To identify the right deal; pay attention to damages in the property, assess the extent to which repairs are required, stick to your financial goals, assess risks, etc.
  • Get Familiar With Common Key Metrics: Be aware of the common key metrics used for assessing real estate. Examples of key metrics are net operating income, gross operating income, operating expenses, cap rate, net present value, capitalization of earnings, etc.
  • Look For A Good Seller: Look for a seller who is trustworthy. It is advisable to research about the property and its seller prior to signing the deal. You should hire a real estate agent to provide professional guidance while going through the deal.
  • Evaluate Properties: Before finalizing a commercial property, evaluate it thoroughly by studying its neighborhood, going through online listings of comparable property and so on.
  • Polish Your Communication Skills: Apart from the strategies mentioned above, your communication skills have a huge role to play in the kind of relationship you establish with realtors or sellers.

John Reider Properties helps its clients in making commercial property investments in Killeen, TX. The team utilizes its experience and knowledge for the benefit of clients. For more information about commercial property investments in Killeen, call at (254) 699 – 8300. You can also visit 455 E. Central Texas Expwy Suite 101 Harker Heights, TX – 76548.

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