What are important tips to selecting a Commercial property to really go after?
When looking for Commercial property I look for the following: Types: • LAND: I prefer raw, un-entitled/un-platted Land that can be re-zoned for commercial or mixed use development. I typically do not seek residential-only parcels and generally do not purchase finished, developed, ready-to-build land. • INCOME PROPERTY: I seek any type of income property, and prefer properties with value-added and significant upside potential. I look for underperforming real estate and invest the necessary capital and human resources to bring the property to its fullest potential. Location: I seek properties anywhere from downtown to the edge of progress but prefer properties with interstate or road frontage, especially land. I avoid areas where local government resists development or where the project approval process is particularly burdensome. Markets: Most markets currently qualify. The local economy and commercial real estate market conditions must be stable, improving or appreciating. Size: • LAN
