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.
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.
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.
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.
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.
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.
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.
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.
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®.
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.
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.
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.
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.
Both tenants and even real estate professionals misunderstand the measurement of office space square footage for rent purposes. The way to find out the amount of rent in most office leases uses both usable square footage, plus the tenant's proportionate share of common areas in the building.
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."