Opportunities abound in Atlanta commercial real estate investing because it is an open playing field. This type of investing allows for greater levels of income potential on a per square footage basis. Stated in a most basic way, the income earned from a multi-dwelling building will far exceed the potential earnings from renting out a single-family home. Keep these facts in mind when going forward with long-term investment strategies in Atlanta.
Invest in Atlanta Commercial Real Estate
One rule when investing in commercial property in Atlanta is to know in advance how many tenants are already on-site and how much each tenant is paying in terms of monthly rent. This may seem obvious but can sometimes go overlooked. In the most basic of terms it is important to know how much profit can be extracted from an investment over the short and long-term. While certain properties can be extremely profitable, other properties may be acquired with the idea of growing assets. Have a plan and a strategy already mapped out when beginning to invest in Atlanta commercial real estate. In other words, determine whether or not immediate cash flow or long-term asset building is the main objective.
Equally important is to consider the overall condition of the property that is being purchased. Working closely with a trusted and reliable appraiser will help to make sure that the condition of a property being purchased is acceptable. This will help to ensure long-term favorable returns on any Atlanta commercial property investment. The amount of repairs that are required for a given property can have a direct impact on its investment value. Another consideration when investing in Atlanta commercial property is making sure that a particular property has not been weighed down with lawsuits. This can become a very expensive proposition when making any real estate investment.
Experienced and Knowledgeable Experts
Work with a professional legal team to make sure that a property is cleared before signing any contracts or documentation. Finally, those investing in commercial property in Atlanta should get into the habit of asking the right questions regarding a property before making a purchase. Working closely with a team of experienced and knowledgeable experts in the industry is one of the best ways to guarantee that the right questions are asked at the right time. Keep these simple facts in the forefront when moving forward with any type of commercial property investment in the Atlanta area or the surrounding community. Contact Wiedmayer & Co. today to learn more about making the right choices when investing in commercial property in Atlanta.