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Commercial Real Estate Misconceptions: You Mean Location, Location, Location Was a Lie?

Article by Danny Luke

Commercial real estate is a wonderful, exciting business that can offer a wealth of opportunity for those who look for it! Many people are often hesitant to enter such a market as commercial real estate for many different reasons. In fact, there are some major misconceptions about commercial real estate which I am going to address here.

Many people who hear about commercial real estate, but aren’t necessarily in the business, often use the expression “Location, location, location!” Many people associate this expression as the truth, that the three most important attributes about a property are “Location, location, location!”

I am here to tell you- this is absolutely not the case! Now, I am not going to say location is not important, but what if you have a beautiful location for a mountain resort, complete with snowy hills, a perfect location for a lodge, and beautiful mountain views? What you want to do to the property is improve it for a weekend getaway for romantic couples with a beautiful lodge, resort, luxury type housing, and perhaps some individual cottages overlooking the green forest. Sounds great, right?

The perfect location- you can’t beat it! But, you learn that the zoning for this property is residential, R1, to be exact. The use is only one single family residence per acre, and no commercial property allowed. What happened to your “Location, location, location?” It flew out the window!

The most important aspect of a property is the use. What is it intended for by designation of the city or county? It does not matter where the property is, if you cannot get the zoning that is in the realm of your intended use.

It is possible to get properties rezoned, especially as cities change and grow. Be sure to consult with the city or county to determine if these changes are even possible, because you do not want to buy a property that you cannot rezone, and be left with an unprofitable property on your hands.

Most people believe that commercial real estate is complicated and you need a special education or know how to succeed in the business. Many think that commercial real estate is filled with international finance, heavy and complicated math, complicated tax rules, and forms and applications that are just too complicated to understand correctly.

I am happy to tell you this misconception is the worst, because it puts a road block in front of many people’s aspirations to become a commercial real estate insider. Let me put this misconception to rest. There is math involved, and most of it is not at all complicated: simple ratios, adding, subtracting and multiplying. What is even better is you don’t have to do the math. There are others who can do that for you. The same is true with property management, inspecting the property, and doing the year-end tax report. In fact, commercial real estate is less complicated than residential real estate because you can focus your energies on a single deal that will be worth perhaps 10, 20, even 50 residential deals and more!

Let me put it into perspective for you. If you owned a business (many of you may), would you create strategies, keep the books, manage the many locations, sell on the front floor, and take out the trash after the day was over? I think not! Commercial real estate is made up of many people whom are there to help you with whatever you need. You must position yourself as a real estate insider, which is a leader in the business.

Another misconception is commercial real estate is management intensive, that you must manage every property you own. Let me tell you when you end up owning 10 or more properties, this is almost impossible to do! You do not have to actually manage your properties yourself, so you can concentrate on creating more deals. Hire a company or set a team in place to take care of this “day-to-day” business.

As you can see, what is passed around in dialogue about commercial real estate is not always true. Before you take everything to heart, be sure to get your facts straight. In fact, many people in this profession speak about commercial real estate as a business in which only the savvy and sophisticated can succeed. They often act this way because they want to keep people out of the market by differentiating themselves. If you were in this position, you would too!

About the Author

Quick Move Now are one of the leading house buying companies in the UK.We buy houses and will buy your Bryant Homes and your Barratt Homes. They will buy your house for 90% of its value and can turn around in 7 days.

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Real Estate Listings Online – Turning To Less Traditional Ways To Sell Your Property

Article by Ron King

Free Real Estate Listings

With real estate markets struggling in tumultuous waters, real estate marketers are using more non-traditional means to get exposure for their properties. You can now look at a real estate listing online rather than going through traditional agents. Using a free real estate listing has its ups and downs; here are some tips for looking for online properties and how to make your search work for you!

With traditional newspaper listings, you have to read through various listings and sort out the ones that seem the most appropriate for you. You then have to write down the phone numbers and contact information on a piece of paper and then call up the owners/brokers to make an appointment to see the property. Without a photo, your efforts may be fruitless when you find yourself driving up to a shanty or a piece of property that does not at all resemble the parcel that was advertised.

Moreover, newspaper listings generally run on a weekly basis. So if a parcel has sold during the week, there is no way you can check it without actually contacting the owner/broker. On the other hand, a free real estate listing online is updated every day or maybe twice a week.

As we all know, submitting a timely offer can make an enormous difference when it comes to negotiating the deal for your new home. When you employ online listings, time is on your side. You don’t need to go through all the listings in order to locate the ones that look suitable to you. You can specify various search criteria to view only those that you are interested in. This is a big advantage when compared to newspapers, where listings are sometimes presented in no particular order. You can save a lot of time online by browsing only through listings that are of interest to you.

There is also no need to note phone numbers etc; you can just get printouts of the real estate listing online you want. Some websites also supply facilities to track those real estate listings. You could even contact the sellers by transmitting a message via the website (some websites have this type of email feature). Another substantial feature of online listings is that a lot of them have images of the property. You can browse through the images and see if you like the property before calling the owner.

A real estate listing online offers a lot of convenience. But along with the convenience, a free real estate listing has some drawbacks. Use the services wisely for compiling information or locating a realtor. Know that in some cases sellers who choose to advertise may be a little more dedicated about trying to make a sale. Use the ease of the Internet to help you save time and narrow down your choices. Whether you need commercial real estate, an industrial property or apartments in other states or cities, the Internet presents many opportunities for prospective buyers to compare and contrast the most recent listings, enhancing your options and your purchasing ability!

About the Author

For more reading, check out Home Buying Information and Resources or Articles on Home Buying.

Copyright 2008 Ron King. This article may be reprinted if the resource box is left intact and the links live.

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Foreclosures Real Estate – What are the Benefits and Best Sources for Buying Real Estate Foreclosures?

Article by Fiona Livnat

A large number of prime real estate foreclosures have opened an amazing avenue for homebuyers and investors on the lookout for a good quality property at a great bargain price. With their low asking prices, one can avail the numerous benefits of foreclosures real estate by going through the right sources and make a great purchase.

Benefits

* Affordable prime housing – During the present times of economic crisis real estate foreclosures is the best platform by far to own a house that fits your budget without compromising on the location as well as the quality of the property.

* Reliable venture – With foreclosures properties flooding the US market, buying one is highly reliable and very low risk prone as they are mostly bank and government owned properties and have a direct and transparent purchasing process.

* High long term returns – The investment potential of real estate foreclosures are very promising as once the economic situation gets better which it will in some time, the resale value of the property will hit an all time high resulting in good returns.

* Instant profit – Apart from its long investment value one can earn immediate returns on foreclosures real estate by buying one at half the market rate and instantly selling it at a high return in the open market.

Best sources

In order to make a good purchase on foreclosures real estate it is very important to consider all the sources to ensure the best bargain offers available.

Bank and government websites – Searching through the websites of banks for foreclosed homes is one of the safest ways of buying properties. A unique advantage of bank owned foreclosures is that it is free of liens and therefore much more reliable.

Online listing services – Subscribing to online listings is also very resourceful as they provide you with round the clock updated and targeted information on the properties according to specific location and other such requirements.

Local journals and classifieds – Scouring through the local newspapers, business journals and classifieds is also a good source to find some very good deals on foreclosures.

County offices – By visiting the county office of regions directly in the region where you are interested in purchasing property you can get a list of the real estate foreclosures available in the area and carry on a targeted search.

Summary – Opting for real estate foreclosures has some great benefits like affordable prime housing, reliable venture, high long term returns and instant profit. Some of the best sources of finding foreclosures real estate include bank and government websites, online listing services, local journals and classifieds and visiting county offices.

About the Author

Fiona Livnat is an author with expertise in real estate foreclosures. She has over ten years of experience in writing about foreclosures.Her commitment to help people is reflected in her writing. For more details please visit real estate foreclosures.