|
|
Commercial Property Investing its About the Numbers
Don't get emotionally involved with the property. When making the offer, don't get too emotionally involved. Later on in this manual, I'm going to talk about negotiation; however, it bears mentioning right now that you don't want to get too emotionally involved in a property. If it's a good opportunity, you'll want to try to take as advantage of it as aggressively as you can, but not go overboard. Remember, opportunities will continue to present themselves; this will not be the last property that you will ever be able to purchase. Keep that in mind. It's worth mentioning that you shouldn't make an offer just to make an offer on a property. Many times many investors get caught up with the thought of I've got to buy an apartment building. And many times, they don't pay attention to all of the analysis that needs to be done in order to make a smart decision. So, what do they do? They take shortcuts...just to make sure they buy an apartment property. Don't you do this; don't buy just for the sake of buying, those that do, end up wishing they never got involved in the first place.
Don't sign the contract until you've read over every single sentence. It goes without saying that you don't have to be an attorney to figure out a contract; however, you want to make sure you understand everything involved. At least on your first two transactions, make sure you take the time to read through the contract and take the time to go through it sentence by sentence, most of it isn't going to mean a darn thing to you with legalities; however, there will be some things you'll
want to take note of and make mention of to your broker or to the person you're working with in buying their property. Don't purchase a property by owner without an attorney representing you.
You'll want to get a good real estate attorney on your team anyway and it's necessary you do have a good real estate attorney, not just an attorney that will learn through you how the real estate transactions work. And, you'll have them represent you especially if you're doing something by owner
Once in awhile what'll happen is you'll make an offer on an apartment property, then be told right after you made the offer one, two, six, 12 hours later, whatever the case, that there's another offer on the table. This other offer has been made to the owner before the owner has gotten back to you with either an acceptance of your offer or a counteroffer. Of course, at that time, you're going to be told, If you really want to buy the property, you should pay the owner's asking price.
About the Author commerical real estate Special offer to help you make it in the commercial real estate world right now.http://www.commercialprofitblueprint.com Jacquelyn Donner
|
 |
Please Rate: |
|
Rating: |
 Processing ... |
(Average: Not rated) |
| Views: | 26 | |
|
| More Articles from Real Estate | | |
| Top Articles in Real Estate | | |
|
