Buying commercial property is a major investment. Before diving into a deal, there are five major steps investors must prepare for. Then, after receiving a commercial building inspection from Commercial Property Inspectors, Inc., you will be prepared to make the right decision for your bottom line.
1. Have a Clear Vision for Why You Are Investing
Before ever looking at a property, you need to have a clear sense of vision. What is motivating you to invest in commercial property? What are your goals as an investor? A clear sense of vision will guide you through the buying process and allow you to purchase a property that will help accomplish your goals.
2. Consider Your Options
With your goals in mind, narrow down the type of commercial property you wish to purchase. Commercial property takes many forms, including warehouses, hotels, retail stores, medical facilities, and more. Determine which type of facility best suits your goals, and proceed from there.
3. Secure Financing
Similarly, before looking for a property, begin the process of securing financing. Commercial properties are expensive; banks, lenders, and partners often have a long list of stipulations that must be met before they’re willing to support your endeavor. Securing financing early provides you with a clear sense of what you can afford. Plus, securing financial backing now will allow you to proceed quickly once you’ve found the right property.
4. Create a Team
Investing in commercial property is a major investment. As such, new investors should not embark on this journey alone. Instead, hire a quality commercial realtor with experience in your prospective industry. Similarly, consider hiring a commercial real estate attorney and CPA to guide you through the purchasing process.
5. Proceed With Caution
With your team in place, hunt for a building that meets your goals and budget. Then, make an offer with an inspection contingency clause and promptly schedule a commercial building inspection with Commercial Property Inspectors. We will thoroughly inspect the building’s structure and components and provide you with a report of our findings within 24 hours so you can make an informed purchase.
Schedule an Inspection
The team at United Property Inspectors inspects to the highest standard to ensure our clients have all the information needed to make a sound investment. For more information, contact us at (916) 788-1111. We serve Sacramento, Rocklin, Roseville, and beyond.