First Time Commercial Real Estate Purchaser

Getting your toes wet for the first time in the world of commercial real estate can be nerve-wracking and intimidating. Before you make that big decision, make sure you cover all the groundwork of finding the right property. By covering all the bases, you will be more confident in yourself and your ability to make a good decision when it comes to investing in commercial real estate.

Here are the main tips you should follow during your search for that perfect property:

  • Deciding to purchase versus lease.

While deciding which choice best suits your need, take into consideration the pros and cons of each one. Do your homework on the property. Take multiple site visits and get a good feel of how it operates. Then, consider what your needs are and how you feel they would best be meet. Think about where you may be in the future as far as business size, revenue, and the type of people you’ll be serving. You will never be 100% on whether or not you should purchase or lease, but by considering all your factors you can make the most educated decision that will offer the most benefits to you in the long run.

  • Find the right real estate team for you.


More than likely, you do not consider yourself to be a real estate expert. That’s where H.B. Springs, the actual experts, come into play. We can help you find that perfect location and help you feel confident in your decision. Real estate agents aren’t your only friend though. Before making a purchase or commitment, it’s always good to contact a lawyer, accountant, or mortgage broker. Accountants and mortgage brokers can offer you financial and budgeting insights. Whereas a lawyer can help you work out all the tiny details while making the transaction.


  • Identify the right property.

Location is still one of the most important factors when it comes to real estate. But in this day and age a million other ones now come into play as well. While you search, it’s important to keep these aspects in mind: physical condition, allowable uses, limitations on exterior and interior, adequacy of access and parking, opportunities for expansion or leasing.

  • Always do your due diligence and evaluate the property.

Once you go to contract this becomes the time to really do your homework. Revisit your objectives and make sure the property continues to line up with what those are. This is when your broker will bring in outside consultants to review the property and determine any potential issues. Make sure you stay involved so you’re always in the loop as to any negatives or positives that may show up.

  • Time to make the purchase.

Once the price is secured, you must now review your financing options. There are a whole host of options out there so give yourself the opportunity to find the one that‘s best suited to you and your business. Continuously verify the financial terms associated with the purchase to make sure you fully understand your commitment before officially pulling the trigger.

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