BUY A COMMERCIAL REAL ESTATE PROPERTY IN 7 SIMPLE STEPS

• You have to identify your motives for investing in a commercial real estate property.
• Weight your various options and evaluate the different commercial property types on the market.
• You need to lock down on your finances.
• Have your eye set on a potential property on the market.
• Building the ideal team for the job. You can find the best real estate lawyer in Mississauga to assist you with any legal counsel you may need among other things.
• Make sure you know how much investing in the property is going to cost you. This includes renovations after acquiring the property.
• Making the right offer and closing the deal.

You can think of buying a commercial real estate the same way you buy a residential property. However commercial real estate is on a much bigger scale. There is an equal amount of research as well as due diligence to be conducted before a decision is made. Commercial real estate however falls on the pricey side. 

Not only is commercial real estate expensive, it has longer leases and also increased rental income. The right system has to be put in place before pursuing in the purchase of a commercial property. 

A leading financial analyst and experienced specialist called Kevin Miles from loanadvisor.sg advised potential investors to review and make the required research before making an investment. Investors know investing in commercial real estate means future profits. The location of a commercial real estate property is key in it’s success. 

THE CITY OF MISSISSAUGA 

Mississauga without a doubt has a growing commercial real estate market. This sector has been doing well in the last few years. The city finds investors drawn into investing in it’s booming commercial real estate market. This has also helped the residential real estate side of  things. Families from all over the country are moving to Mississauga for a chance at an all round better life. Niro law lawyers can assist you with any legal counsel you require.

THE MOST IMPORTANT STEPS IN PURCHASING A COMMERCIAL REAL ESTATE PROPERTY 

1. Land Banking: This is when an investor buy’s huge tracts of land that will be developed in the future. The land appreciate’s in value as the years go by.

2.Development: This is when an investor purchases a piece of land and construct properties on it.

3. Fix and flip: This step is similar to flipping houses in residential real estate. This is the process of purchasing an old commercial real estate property and make the necessary repairs and renovations as well as installing upgrades. The finished work is then sold at a much higher price. 

4. Wholesaling. This is done by finding a good deal on a commercial real estate property and putting it under contract. This contract is then sold to another investor or owner occupant.

5. Owner Occupied: This is simply when an investor buys a commercial real estate property and decides on running their own business within it. 

6. BRRRR: This is also similar in residential real estate BRRRR. This process is Buying a residential property, Rehab, Rent, Refinance and Repeat.

7. Passive Investing: This is when an investor adds a commercial real estate to their portfolio purely for passive income. This is ideal for investors who don’t have time to operate everything themselves.