Many individuals have been through the process of purchasing a piece of residential property. Even those who are not professional investors have gone through the search for their own homes. Because of this, Brian Fielding knows that those who are exploring commercial real estate investments can often be confused by their familiarity with the residential market, and that this familiarity can influence the way that they behave when looking at commercial properties. To help investors better navigate the commercial market, Brian Fielding offers some key advice.
Think about different property types: Residential properties are limited to houses, but commercial properties are varied. Office spaces, apartment buildings, warehouses, retail spaces, and undeveloped property can all be considered commercial real estate. Those who are getting involved in commercial real estate should consider each type of property and its differing factors before they begin searching for a purchase. Once they choose the type of property that they want to invest in, they should also be sure that they learn all they can about it.
Know an upfront time investment is required: Brian Fielding reveals that it will take quite a bit more time to purchase a commercial property than it does to purchase a residential one. Because properties are more diverse, and because there are so many factors to consider, it usually takes a lot longer for an investor to find the right property. Negotiating the purchase and getting financing can also take some extra time.
Be prepared for differences in financing: Because commercial properties almost always require a higher investment than the average residential property, there are some significant differences in obtaining a loan to buy the property. First of all, the down payment on the property will be higher. Additionally, there will be different qualifications for loans. Mr. Fielding knows it is important that investors research and understand these changes and that they seek funding before they begin looking at properties.
Once an individual investor understands the ins and outs of commercial real estate investments, it will help them better comprehend the way that they interact in the market. Knowing the differences between residential and commercial real estate will also help these investors make smarter decisions about the properties that they buy. For more outstanding commercial real estate advice from Brian Fielding and Fielding Investments visit http://brianfielding.com/.Read More