Buying Commercial Property
Have you ever considered buying commercial real estate? Although it takes time and research, it could be one of the best investments you make if you conduct proper planning and hire Menas Commercial Real Estate professionals.
About Commercial Real Estate
Put simply, anything other than a house. Apartment buildings that consist of five units or greater are considered commercial buildings. Other examples include office buildings, strip malls, mobile home parks, self-storage buildings, warehouses, as well as land. Menas Real Estate will help you find the best commercial property for your needs.
Considerations for Buying Commercial Real Estate
Cash flow along with potential to create long-term wealth are popular selling points for getting into commercial real estate. Most would find it hard to believe that one deal is all it takes to change one’s financial life forever. The amount of cash flow you get from multiple units is no small value, and a properly managed building will bring even more of a return on investment. With commercial real estate, if you learn how to thoroughly interview property managers, you can have a business that is managed by someone other than you. All hands-on work can be taken care of by property management companies.
Tax Breaks and Advantages
There are numerous tax breaks and advantages to owning commercial buildings that can benefit you, saving you tens of thousands of dollars.
Another point to consider commercial property is the possibility of buying without having to invest. You can bring in private investors and leverage banks. You could complete a deal without putting a single cent down. Typically, the value of commercial buildings will gradually and naturally gain appreciation. You can also add value to the property yourself, forcing the value of the commercial building to increase even more.
You’re in Charge
One very attractive quality of owning commercial property is that you are in charge. You have control over every aspect of the building, from selecting tenants to the color of the facade. It also helps that investing in commercial property is less emotional than residential- it’s all about the hard money value and there is less attachment than with residential homes.
Good Candidates for Commercial Real Estate
The truth is, just about anyone can purchase commercial real estate. It’s never too late, and there is no better time than right now. All that is needed is access to the Internet, a cell phone, along with the ability to calculate simple math. No licensing or college degree is required.
If you are inexperienced, you will definitely need to hire experts. Menas Real Estate will help you find potential properties and connect you with a commerical mortgage broker to help with financing options. A lawyer will ensure you complete all legal documentation correctly, and can represent you legally to negotiate your commercial real estate transaction. When it comes to Menas Real Estate, we are experts in commercial properties and can make sure you have the right team behind you for a successful deal. Contact us to get started.