Even the most desirable piece of commercial real estate in Atlanta could result in losses if the venture is not approached cautiously. When it comes to Atlanta commercial real estate investments here are some tips and tricks for thriving in this profitable and sometimes challenging arena. Keep in mind that in commercial property investing it’s always about the deals and terms and the overall return on investment.
Commercial Real Estate Assets
When searching for a good investment in the world of Atlanta commercial real estate it is best to be an investor driven by profit and not simply wishing to accumulate properties over time. The main purpose of acquiring commercial assets is to turn a profit or generate steady income. If a property is not producing in this regard then all that you have really done is accumulated property rather than created a profitable investment. It is also essential to keep in mind that every commercial real estate asset will require upkeep, maintenance, and other possible unknown expenses. Over time, a building may require a new electrical system, a roof or may simply need to be updated.
Having long-term planning in mind will help a business better manage repair related expenses and other costs. It is also a good idea to focus on just one investment type at any given time. Focusing on a single property class such as land, retail, office buildings or apartments will help maintain focus and ensure that investor efforts are not diluted. In addition, environmental related concerns must be considered as well.
Investing in Atlanta Commercial Properties
A major concern when owning commercial real estate in Atlanta is anything associated with hazardous waste. Keep in mind that the owner of a property is always the primary person responsible for correcting any such problems. This is true even if the current property owner did not cause the issue. Another great tip when it comes to investing in Atlanta commercial properties is to consider bringing on a mentor to help learn from other’s mistakes. Having an objective opinion or a neutral third-party may end up saving you substantial money on any real estate investments.
Experienced Legal Counsel
Finally, carefully consider whether assets are fully and adequately protected. Protection from lawsuits, natural events, and other unforeseen circumstances requires top-notch insurance products and experienced legal counsel. As an added note, those involved in a partnership deal may wish to consider financing the deal with something known as a non-recourse loan. This simply means that the borrower is not personally guaranteeing the loan. It is useful because it allows you to be removed from the loan if the partnership runs into problems. Consider these simply but important tips when investing in Atlanta commercial real estate. Contact Wiedmayer & Co. today to learn more.