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Should you consider investing in a commercial property?

by Mack Johnson
June 20, 2020
in Home Improvement
Reading Time: 2min read
property

property

Property investment has always been famous for its ability to produce significant returns. Going by this, it doesn’t matter whether you plan to buy a residential or commercial structure. However, if you are eyeing enormous financial rewards, you can pin more hope on the latter one. It can be riskier; you can still expect to be successful in your endeavor if you learn about this market in depth and plan your investment correctly. Under commercial properties, you have choices in warehouses, apartments, office buildings, retail stores, etc. There can also be mixed-use buildings consisting of offices, retail shops, and apartments.

Since these are different categories, you will need to have unique maintenance strategies for them. Buying these physical assets can prove beneficial to you for a variety of reasons.

Investing in a commercial property

Earning

The possibility of gains tends to be higher in this case compared to residential ones. You can expect it to return at least 6 to 12% of your purchase value annually, while a single-family home can offer you just about 1 to 4% return. Just remember one thing, profits depend on the location of the property. So, be careful with this. You can consult with real estate investors like Phill Grove for insights if you don’t have much idea about this.

Maintenance

After buying a commercial property, you can lease it out to retailers for monthly rents. The retail tenants will take care of your property because of their vested interest. They know nobody will come for shopping if their store and storefront are not in good shape. Hence, you can trust them and get rid of the tension of taking care of the property personally. Since it will most likely remain in attractive condition, you can keep patience to see its value rise over time.

Price evaluation

When it comes to property valuation, you can check the income statement of the existing owner to verify how much you should offer. In the case of residential properties, pricing tends to be an emotional decision.

Professional dealing

Whether it is a small business or the property owner, there is an assurance that both these parties are professional because of their respective business interest. Hence, when you buy this property and put it out on rent, you can expect your relationship with the tenant to be professional and well-mannered.

While these are some of the positives, you also need to have awareness about a few risks. As an owner of the commercial retail building, you can have five tenants on the property. You will need to manage them, especially if you desire to have better returns. Since you have multiple leases, you will have to cope with maintenance and public safety issues frequently. You don’t face this problem with residential properties, though.

Anyway, any investment that involves money is risky. Your awareness of the market conditions and policies can help you have a smooth journey in this regard. If you wish, you can join a local real estate networking club for easy access to information.

Tags: commercial property investmentpropertyproperty investment
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