Benefits of Owning Your Small Business Property

Transitioning from renting a commercial space for your business to owning one can be a risky and even scary step. Right now, as we begin to roll out of the pandemic, there is the possibility of obtaining an office space for a very good price than just a short time ago. So if you have been saving up or have the funds to do so, now just might be a good time to purchase a commercial space all of your own.  

Things to Be Mindful of When Buying Commercial Real Estate During a Recession

As many industries are seeing a downturn caused by the recent worldwide pandemic, real estate investors with cash on handstand to benefit from purchasing properties at lower prices. Good investors know there are investment opportunities to be had, but wise investors are also aware of possible hiccups that could arise while seeking out and purchasing these properties.

Insights for Investing During a Rocky Economy

The current pandemic has caused many things to shift and change, some overnight. With these changes comes the need for a new way of doing things to stay in business and prepare for the future. Here are some tips on how commercial real estate investors can get through this rocky time.

Current Hotel Trends for Commercial Buyers 

In the ever-changing world we live in many commercial real estate spaces have begun to change and adjust to keep up with the demand of certain business types. One such industry that has seen a change in the type of space that is being sought after is the hotel industry.  Here are some new features hotels are looking to incorporate into their spaces as demand changes:  

Tips to Make Your Warehouse More Appealing to Leasees

In the past few years there has been an increasing demand for warehouse spaces, and because of that an increase in the number of warehouse and storage units being built. Though there are many companies looking to lease warehouse space currently, it is still important to provide a warehouse that is appealing to potential tenants.  

Self Storage Facilities are in High Demand

Over the last decade or so the self-storage sector of commercial real estate has seen a significant amount of growth in sales. In just the last five years self-storage facilities have seen an 80% increase in sales.

The majority of self-storage space is still owned by small business owners at an estimate of 74%, but larger companies and real estate investors have taken notice of the growth and demand in the market and are now getting on board to add self-storage spaces to their portfolios.

Quality Food is Bringing Shoppers to the Mall

Recent research conducted by commercial real estate services firm Jones Lang LaSalle presented at ICSC’s RECon (the largest gathering of retail real estate professionals in the world), has found that 40% of mall customers choose the mall they want to shop at based on the food options at a particular mall.

Phase 1 Inspections -What are They

A very common question when it comes to commercial real estate inspection is what is a Phase 1 inspection, and do I really need one? Phase 1 refers to an environmental assessment of the property; the full name is Phase 1 Environmental Site Assessment. Phase 1 is also commonly referred to as an ESA or Phase 1 ESA. A Phase 1 is conducted to find the current and historical uses of a commercial property in the process of a commercial real estate sale. The reason for the Phase 1 ESA is to determine if any of the former or current uses for the commercial property have had impact on the soil or groundwater underneath the land resulting in a concern for the environment or human health.

What is an IPO?

The business world is quickly changing more and more every day. Walking into a brick and mortar place of business no longer looks like it did just a few years ago, and that is because of the IPO. IPO’s have grown in popularity over the recent years. An IPO is an Individual Private Office. It is a shared office concept offering the lease of small spaces from about 100 to 1000 square feet with a variety of shared amenities.

Good Things to Know When Purchasing Land for Commercial Use

Purchasing land for commercial development can be a more detailed and complicated process than most people realize when they are doing so for the first time. If you are considering purchasing land for commercial development there are some important things you will want to know and ask yourself during the process.  

Harmful Cleaning Mistakes You Could Be Making

There are many different and great reasons that we clean our homes and businesses, but one of the most important of those reasons is to sanitize and keep us from getting sick. Unfortunately, there are many cleaning mistakes we make on a daily basis that could be putting the people inside our homes at harm. Find out some of the most common and potentially harmful cleaning mistakes below.

How to Negotiate Commercial Inspections 

As in residential real estate inspections, a commercial property should have inspections as well, especially if you're purchasing not only the building or business but the land as well. A commercial inspection is slightly different than a residential inspection and should be handled by a qualified commercial inspector.

Tried and True Secrets to Selling a Property

Are you looking to list your house or property soon? You might want to take a gander at these most common and useful tips for selling.

Differences in Buying a Business Vs. Buying the Building

Purchasing commercial real estate is much different than purchasing a business. If you are looking into buying commercial real estate with a working business resident chances are you will be purchasing just the building and will have no affiliation to the business that uses it. Here are the differences in purchasing commercial real estate vs. buying an actual business.

Secrets to Getting Commercial Real Estate Offers Accepted

 Trying to sell a home can be difficult and selling a commercial property is even more so. If you are selling a commercial property you may face a long wait before getting any offers, but here are some tips for getting your offer accepted.

Wholesale Real Estate Flipping - What is it and should you be looking into it?

There are a lot of ways to make money in real estate, investing is just one of them. But, did you know there are more self-made millionaires in real estate than any other industry? The most common type of real estate investing is the "buy and hold" investing tactic. Being a landlord is what most people think of when investing in cash flow income and real estate. The idea is to have a monthly cash flow over time and gain equity in the property while making money on it as you go.

4 Great Benefits from Multi-Family Investments That Single-Family Homes Don't Have

Which is better? A single-family home investment or multi-family property investment? Both have pros and cons, advantages and disadvantages but there are some great benefits to a multi-family investment than a single-family home investment. From our experience here are some of the great benefits of multi-family property investments.

Overpaying for an Apartment Building Could Get you a Real Estate Steal

There are many commercial investment advice sources out there that tell you never to purchase a commercial property based on its potential to bring money in. The safer and more concrete way to invest is in a commercial property currently performing well.

Rentable Shared Office Space is a Growing Market

Technological changes and rapid growth over the past 15 years have changed the definition of an office, especially in the world of small business. An office is not so much a desk, leather covered chair and four walls anymore, it is now pretty much anywhere there is an internet connection. A large percentage of today's entrepreneurs and small business owners work on the go. Being able to connect anywhere you are through smart devices and wifi allows for more productivity and availability without being chained to a desk.  

Common Office Spaces are Winning Over Clients

More and more companies are opting out of the formal meeting room with long rectangular table and chairs for a more relaxed approach, the common space. These common spaces are simply less-formal areas to hold meetings.

How to revamp your new commercial space in and around Minot

Contrary to common belief, once you’ve found the perfect commercial space, your journey isn’t over. Finding the space is the first step to having a successful business, the second step is to create a space that keeps customers/clients coming back for more. While each individual business will have it’s own unique feel and some revamp tips could fit seamlessly in one business and seem out of place in another, there are a few simple things you can do to help keep your space fresh, clean and professional. Even in the most professional business, nobody likes to walk into an office that is solid white walls with no personality, this can make people feel uncomfortable and unable to open up easily. When there are personality pieces, especially in businesses, it allows customers/clients/tenants to feel more at ease and enjoy their experience in your commercial space to it’s fullest.

Mistakes to Avoid when Buying Commercial Real Estate

 Commercial Real Estate as a whole is a whole different ball game than the purchase and sale of a home. Entrepreneurs are often ready to move forward with the sale without checking for a few key components that could lead to detrimental mistakes for their business. While there are dozens of different factors to consider such as what maintenance issues will need attention to either build or maintain your building, what demographics and other market features will change, what funds and materials you will need to have immediately available to get started, etc. There are a few key things to understand and be aware of when purchasing commercial real estate.

The Things you need to Know When Buying Commercial

For those of us who don’t purchase commercial real estate, we have this idea that the only people who purchase commercial real estate are high-end businessmen and woman who wear tailored suits and carry around briefcases. Well, let me be the first to tell you that this isn’t always the case. Now, of course, there are recurring business transactions when it comes to commercial real estate, but there are also first time buyers who are trying to figure out the process just like you or I would be.

Finding the Perfect Commercial Property, and What You Need to Know

Whenever we make a big investment we always like to know the outcome is going to be not only profitable, but that our investment will be a successful endeavor. When purchasing commercial real estate there are multiple factors that go into choosing a property that is sure to help your business be all that you’ve dreamed of. Even with the constant rise and fall of the economy and real estate costs continually climbing, it has proven that entrepreneurs are still better off purchasing property instead of renting them. Here are a few tips to finding, buying, and maintaining the perfect commercial real estate property.

How, Why and When to Purchase Retail Space

There are many great things about purchasing a retail commercial space as a way of generating more income for your business. Here is a quick guide about buying commercial retail space: the benefits, what to look for, and financing.

Differences between a Residential and Commercial Realtor®

There are many different areas of expertise in the real estate field, but the two most broad or common real estate fields are commercial and residential. Here are the distinct differences between commercial and residential Realtors®. 

Closing Process Looks Like in Commercial Real Estate Purchases

The closing process of a commercial real estate transaction looks a little different than smaller more common residential purchases. Any real estate purchasing process can seem overwhelming and full of paperwork, legalities, and terms that could have anyone’s head spinning. This article will help to lay out the steps of the closing process in a commercial real estate sale so you are prepared and ready for what to expect in your commercial real estate purchase.  

Deciding Whether to Lease or Buy Space for Your Business

When you venture into the world of business ownership there are a number of decisions to make. One of them being where you will operate from. While some businesses can easily be run from a home office others may need a little more space. Or maybe you have been doing very well and need to move to a larger space outside of the home. Whatever the reasons for finding the best space to operate your  business from you will want to decide whether to lease or purchase the office space you need.  

Self Storage is Becoming a Popular Commercial Real Estate Investment

In the world of commercial property, purchasing a self storage facility does not seem as glamorous as owning a brand new office building, or a fun shopping mall. Though owning a self storage establishment  does not seem like a fantastic and fun commercial investment, it is actually quite a solid way to invest your real estate dollars.  

How to Roll a Commercial Loan in with a Construction Loan

You have found a great commercial property for your next business venture, but it is going to need some renovations to get it into shape before the grand opening. You of course will need to finance the whole project from the purchase of the building to the construction costs to fix it up. Wouldn’t it be great if you didn't have to take out two separate loans in order to finance everything?  

How to Buy a Business or Chose the Right Location for a Business in Minot

If you're choosing the right location for your next business, many factors come into play including cost, remodeling costs and of course, location. You want to choose a location that provides optimal exposure to your potential customers. This may or may not be a location that is on the main street but the destination location of long as your business provides ample satisfaction to the customers once they arrive. Businesses such as retail shops, boutiques and restaurants typically need the exposure of a well-traveled street or road in order to get pastor buyers to stop and come in. Businesses such as manufacturing or wholesale industries may not need this type of exposure and most people will try to the location when needed.

What do Millennials think of Commercial Real Estate Practices.  

Millennial's, those are people currently between the ages of about 18 to 30, born between the 1990s and 2010. Currently there the focus of many real estate agents, blog posts and real estate targets. Anything about commercial real estate and are they involved in investing?

Can I Modify a Commercial Mortgage or Loan?

A commercial loan modification, also known as a "workout" loan can be requested by a business owner who is unable to refinance the loan. If the business has undergone a hardship or had other occupational or operational problems and cannot make their loan payments, a modification may be an option to prevent the loan from going into default.

Can I Use a Grant to Buy North Dakota Commercial Property?

Have you started or are you planning to start a new business, but you need a place to run this business out of and your home just won't do? You thought about renting but, what if you could also build equity from owning a commercial property?  

The Secondary Market for Private Equity Funds is Growing

The recent real estate market rebound has now allowed for investors to sell their private equity funds and has created a secondary market for partnership interests. 

 

Soaring Commercial real estate demand

In a recent article by the Wall Street Journal, there's been a surge in commercial real estate prices, which has caused some real estate financiers to be worried about the housing bubble. This demand for commercial property has been compared to the boom of the mid-2000's.

Millennials and Commercial Real Estate - Minot ND Commercial Real Estate

Millennials or Gen-Y, those born between 1980 and 2000, who are now between the ages of 18 to 34, number around 75.3 million. This surpasses those Baby Boomers  (now aged 51 to 69) who number 74.9 million. How do we keep this new larger generation happy when talking commercial real estate?

Seven Tips for Making a Great Deal on Commercial Real Estate

When it comes to commercial real estate, how do you decipher the best properties and what separates the great deals from the not so great?

Check out the seven tips below for evaluating a good commercial property deal:

• Considering buying commercial property in Minot? Make sure you are prepared financially.
  Residential loan in that the terms in the requirements for applying for a loan are different. Typically, a residential loan will be easier to obtain and you'll need less down payment than on a commercial loan. While residential loans understand that you will be living in or renting out the home for living purposes, a commercial loan will require you to explain and map out the future growth and potential of the commercial property.
• Where is Minot, North Dakota?
  Things are really booming in Minot, North Dakota. It is just the latest chapter in the remarkable history of a community onthe prairie known as the “Magic City.” But where is Minot? 
• Homes and Property near Minot State University
  Minot State University located in Minot North Dakota is located on the edge of the mouse River Valley and provides exceptional education at one of the most affordable schools in the country. Their dedication to individual student care and involvement is second to none in the state. With students from 28 countries across the globe, Minot State University offers a strong study abroad program allowing their students to study anywhere in the world.
• Waterfront property in Minot North Dakota
  While you may not think there’s much water around Minot you might be surprised as to find waterfront property and land for sale within Ward County. At any given time there’s anywhere from 2 to 5 properties that are considered waterfront with in either the city limits of Minot or the surrounding areas of Ward County. This is typically in a rural Minot and you may find several acres for sale at a great price.
• North Dakota is a Great Idea for Commercial Real Estate
  Are you in Dakota and thinking about purchasing commercial real estate? Well, a new video put out by the Washington Post using rankings by Organization for Economic Cooperation and Development might just give you the confidence to go ahead and do just that.  This video has ranked North Dakota as number one in the country for job opportunities and number two for finding a home.
• Commercial Real Estate Terms You Should Probably Know
  Are you thinking of entering the commercial real estate market? If you're thinking about renting or owning commercial real estate, there's some terms you should probably have a good grip on.
• Minot Real Estate Market September 2013
  Minot North Dakota is located in the North central region of the state at the intersection of Highway 83, Highway 2 and Highway 52. There are currently 587 properties for sale with in the Minot area priced from $32,000 for a mobile home or manufactured property to $10,449,895 for lots and commercial land. Multi family homes top out at $3 million and single-family homes are $1,400,000 as the highest priced home currently in Minot.
• 5 Commercial Real Estate Predictions for 2014
  A recent article on CNBC talks about the future of commercial real estate in how we live, work and do business. While 2014 is set up to be a banner year in the commercial real estate industry, there are more predictions over the next 20 to 25 years than ever before as to the future of commercial property.
• Commercial Properties Projected to Rise 17% in 2014
  Last year, 2013, was a stellar year in the new construction and real estate market in general for most of the country. We had a higher real estate sales year last year than in the past five years combined practically. According to local and regional economists, the construction forecast is good for 2014. Where already halfway through the year and commercial property activity is up anywhere from 12 to 17%.  "The Architecture Billings Index produced by the American Institute of architects continue to accelerate last year reaching its highest level since February and the second-highest mark of the year in 2013."