Real Estate In Miami Florida is Our Business!

Renting office space is an important decision in the life of every business. It is a decision most businesses do not relish and make only a few times, if indeed they do so more than once. There are a myriad of reasons why businesses are faced with the consideration of what to do prior to committing to a commercial property lease. What began as a home business may have expanded beyond home and require office space for lease. It may just be an issue of space or an issue of staffing, equipment and space. It may be a business outgrowing its current premises or maybe even downsizing in the current economic times. Whatever the reason commercial property leases are an important decision that should be carefully considered. Most businesses don’t want to move once let alone think about doing it all again because their first choice was a poor one long term. Over time there have been so many changes within offices. Consider the changes to equipment size. Gone are the days of monstrous, bulky equipment. Beyond the equipment there have been changes to the ergonomic and functional design of office furniture. Offices now have many options to consider and combine for functionality. Even the humble desktop computer now requires significantly less space than even five years ago. It is important to take stock and think through a few issues involved in commercial office space decisions before setting your sights on a property. The first for most businesses is cost. Don’t be fooled by straight dollar savings however. For example property becomes more expensive the closer it is to the centre of town. Choosing an office on the outskirts of town may save your rent savings but may be costing your business significantly more than you are saving. Think about your customers and staff. Is it easy and accessible? Is it in a location conducive to happy and productive staff or located somewhere that ensures they all leave by 5, no matter what, because they don’t want to be left there after dark. Likewise for customers it is too far to travel to, or too difficult to get to, or located where customers are not comfortable going. Losing or changing staff and losing customers due to changes in location can create enormous costs for your business that most likely outweigh any cheaper rental saving.

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Commercial investment property investors look for successful investment opportunity to build wealth. Commercial real estate investors are no different than other types of investors. Finding the potential for successful acquisitions keeps an investor searching for additional ways to create passive income. The keys to becoming a successful investor in commercial investment property are FOCUS (education) . . . and finding a property in the right market phase of opportunity. Where does an investor begin a professional education in commercial investment property? Make your decision to begin where you are right now. FOCUS on the type of investor role fits your goals , . . active, passive or a combination of the two . . . then FOCUS on an investment time frame that meets your goals: long term, short term or a combination. What are the three types of Commercial Property Investors: find properties, secure the right to the purchase and sale agreement and can syndicate the deal by bringing in partners for equity capital when using OPM (other peoples money) or do the deal on their own to complete the acquisition.Active investors: provide equity capital to active investors, an Investment Company, or Institutional Fund once an accurate Pro Forma is provided that satisfies the passive investor about the properties potential for return on investment (The Pro Forma will match the investment criteria the passive investor has decided is their investment strategy.) Passive investors: provide equity capital to active investors, an Investment Company, or Institutional Fund once a current Pro Forma is provided that satisfies the passive investor about the properties potential for return on investment (The Pro Forma will match the investment criteria the passive investor has decided is their investment strategy.) The combination of both passive and active roles . . . is the third way to invest in commercial investment property and can take the legal form of a Joint Venture Partnership (JVP). This entity may provide deal analysis, contracting, acquisition, asset and physical property management and funding for the commercial property by an active investor, or entity with a single passive investor or group of investors.

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Whether you own a commercial property, or are looking to invest in one, now is a great time to shop. The economy may be down, but exciting new prospects are one way that it is going to recover, and with commercial property costs at an all-time low, there has never been a better opportunity to invest. The idea of buying a commercial property is to turn a profit from it. Therefore, you want to invest, not collect. Don’t buy something that you don’t have a plan for, as it will just sit around unused, costing you money. However, if you see a good deal on a commercial property and think you can make something of it, now is a great time to purchase that building. Some things to keep in mind if you have a plan for a business is to scope out the area for how similar business are faring, set aside money for any problems that might arise, and have a back-up plan for the future. Decide what you will do if, in a year, the investment is just not making any profitable returns. Shop online. There are literally hundreds of websites available at your disposal. Compile all of the listings that interest you, and being researching them. Try to find as much information as you can about the buildings, including what they were used for and what the area is like. Then, you can contact their listing agents for a showing. While it is true that lots of commercial properties and buildings are sitting empty and unused all across the United States, that does not mean that your listing has no chance of selling. In fact, there are lots of things you can do to boost interest in your commercial property and not feel like a dead duck. The first thing to do is to gather up all of the available information about your property. Know all there is to know about the building including its age, whether repairs or updates have been made, and any problems with it. Include any relevant information that you think will help sell the property. Get a good agent to help you sell your commercial property. You don’t have to settle on the first one you find. Read online reviews and choose the agent who has the best track record of selling properties that are similar to yours.

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Some clients will overlook the essential terms of the lease and think that any lease will do. This narrow view is wrong and must be shaped to encourage good lease and tenant placement outcomes. Good tenant placements are supported by great leases. Underpinning this is a good solicitor who knows how to write a good lease that suits the needs of the property and its future for the client. First and foremost, if the Solicitors that are responsible for doing the leases for the property are not fully aware of the property in reasonable detail, it is wise to encourage them to inspect the property with you and the client so that all key issues and potential problems are identified for the client allowing the lease to be designed to suit. A great property and tenancy mix are supported by a great lease. Generic leases do not suit the purpose well because they do not relate to the special issues that the individual property needs or creates. A final word on generic leases is that they are commonly used where the landlord (client) is trying to save money on legal costs. This is not a positive practice. A good lease matches the property and the clients investment model. It then makes it easier for the Agent to undertake the leasing process and the tenant mix. All the key issues of occupancy are already on paper in the lease. Details of physical and other features of properties should be noted in your inspections so that you can build on the opportunities and positive aspects of the property with potential new tenants. All the information gained should be included on an appropriate and organised listing form and recorded as both hard copy and as part of a computerised listing package. Ultimately you will be producing a leasing brochure and information package to present to potential tenants. All positive aspects of the property should therefore be well understood and documented. All investors and owners of commercial property have differing investment and ownership needs. They could want the property to produce certain levels of growth or stability for their investment needs. They could also want to hold the property for a period of time. These issues then lead to the core decisions that they will make when you locate a tenant or adjust the tenancy mix. It could be that the client has a preference to hold the property for a short period of time and then undertake a redevelopment or expansion of the property. This will have significant impact on how you would construct the tenancy mix and lease profile for the property. You may need redevelopment clauses or relocation clauses in the lease to give the client flexibility. To handle these facts you will fully interview the client and discuss the investors property requirements before proceeding with any part of the professional leasing and tenancy services that comes with commercial real estate. You must match your leasing and tenancy services to their needs. Your skill is in assessing the potential leasing and tenant balance of the property and then shaping the leases to support the rental income needs is essential.

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If you are not familiar with the growth patterns, ask an experienced real estate agent, talk to an active real estate appraiser, or visit the Chamber of Commerce. Make sure you concentrate on an area that is growing. You do not want to buy land and have to hang on to it. Of course, if you use the techniques in this book, you can tie up a piece of property and see if it will resell before you actually close on it. In order to find property that can be bought for a reasonable price and provide a good profit margin, you will normally look on the outskirts of the city. When looking for a tract, first make sure you are in a county that will not prevent your subdividing activities. Then as you are looking for land in a particular area, notice if there are fire hydrants or manhole covers in place. And look for land with a for sale sign on it, preferably by the owner. To locate owners, first visit some of the neighbors in the area and ask if they know who owns the property. If you can’t determine the owner and their address, go to the County Tax Assessor’s office. At the Tax Assessor’s office you can locate the property on their tax maps and they can provide you with the name and address of the owner. By looking at the tax map you can determine how many acres the people own and how it lies. This could give you very important information on the approximate road frontage and whether the road is public or private. And whether the tract is so deep that a road would have to be built or shallow enough so that it would be perfect for slicing up. Analyzing the tax map could cause you to loose interest in that particular piece of land or could get you very excited. These maps will also indicate any easements that have been recorded on the property. Also while you are there, if it looks as though you want to pursue this piece of land, ask if they have aerial maps of the area.

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When you consider investing in commercial real estate, it is very necessary that a commercial property analysis has been conducted on the site you wish to use. Incomplete or shallow research can break the deal on any prospective location. Such analyses are performed by professionals who know what to look for. In commercial property investment, there are many factors that influence the decision as to whether or not a lender grants a loan. Those factors range from local zoning laws governing the area to the socio-economic composition of the community surrounding the location. All of these considerations are made with an eye towards a successful deal. Knowing how your business contributes to the cultural, social and environmental area is the first step to securing a profitable deal. The necessity of knowing all about a business before it is established at a location is critical. Commercial property analysis professionals will evaluate a multitude of influencing factors for you so that you can decide whether or not to pursue a loan for that particular site. Time and effort are valuable commodities in real estate transactions. Time is, quite honestly, money. You should be confident that your time is being well spent when you contact your sellers, lenders and/or brokers concerning a site that you are interested in. Wading through the analysis information is time consuming and may cost you the deal if the investigation is not done thoroughly. Securing your loan is a critical goal if you are going to have a successful career in commercial property investment. A thorough analysis of the property you desire contributes to a successful transaction with your lender. During these financial considerations, a mortgage broker can also be as beneficial as your community property analysis. A mortgage broker is familiar with the lender and borrower relationship and does his or her best to see that your application for a loan gets to the right hands. Still, without an accurate accounting of the target location, your broker will have difficulty securing your loan.

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