Commercial Deals Has A Meeting Place For Deals
If you have been investing only in residential real estate, now is the time to consider commercial deals. The property market has change pushing brokers to go into commercial real estate. Many brokers have educated themselves to find and present commercial properties. Their new products have helped them keep the investors that have been their residential clients. If you want to learn more about commercial investing, take time now to learn a few new things.
If you want to invest in real estate you need to look at commercial real estate deals. This is where many real estate lenders and hard money lenders are investing their money. Commercial real estate finance is now taking a hard hold for many new investors.
Real estate agents and brokers, hurt by the down turn of real estate, have started to do more deals in commercial R.E. With more commercial deals occurring, commercial real estate finance lenders see opportunities and want to attract more commercial investors, so the make it easier to make money available to them.
So if you want to get into the commercial real estate then you need to work with a commercial real estate agent. A good agent will help you, just like a residential agent would, to research and find good deals and to educate you on commercial R.E. principles.
An agent that has connections in commercial will be able to bring you new deals. You want this person to be internet savvy. The internet has many resources for investing that you would not be able to find otherwise. The internet is the future of listings for commercial deals, just as it is now for residential deals.
When checking out any real estate deal, you will have to be concerned with environmental site conditions. This will require a report called the Phase I Environmental Site Assessment. This report will tell you if the property has had a history of environment waste issues.
Always use an agent when buying commercial deals. An agent can make better buying presentations and is not emotional involved with the property. They will help you get a better price.
Do worry about their fees. They usually save you enough in the deal to pay for their fees. And remember their deal has already considered location. The right location is one of their key criteria in finding deals for you. Once you find a property you like, you need to make an appraisal. It is more difficult to make an appraisal on these types of properties, since like properties are not always close by.
You will be using the appraisal in finding a commercial real estate finance loan. There are many type of loans that you can apply for and another is seeking hard money lenders. There are private commercial lenders and commercial real estate lenders. Expect to only get around a LTV of 75%.
One other source of lending information can come from websites that are meeting places for commercial real estate agents, brokers, and investors. These principles can register at this site and present their commercial deals. This is a great advantage since both property and Commercial real estate finance can be found at one place. As these site become more popular and known more deals and financing can be easily found.
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