Phoenix Arizona Hard Money Lender
One of the biggest obstacles that many people have to face is location.
There are a lot of shows on many networks showing the attractive version of the commercial real estate business. One of the biggest obstacles that you might run into is finding the right city to begin your career as a commercial real estate investor.
Sometimes you could have the right business plan but living in the wrong city may give you some problems when you are looking for prospective properties. After the real estate bubble burst, there were many cities that fell. Places, where you could possibly be successful, are not the same as they used to be.
In regards to the traditional commercial real estate, like offices and storefront area big cities like New York, Los Angeles, Miami and San Francisco are great places to start from. Tourism is your friend when you are looking in large buildings to possibly invest in. You want to look at the amount of tourist funnel into the city. These type of cities are great for commercial businesses.
You do want to make sure that you check the pricing of the properties thoroughly you do not want to invest too much of your time just in one location. Cities like New York or San Francisco may have some steep prices. This may, in turn, drive possible buyers away from the property you want to flip. Make sure if you are planning on using the space for your personal business will be able to survive in the area or neighborhood it is located.
When it comes to commercial real estate for potential home buyers there is a slight difference
Commercial real estate in regard to house flipping is very different in comparison. New York is one place you may want steer clear of; many people wind up leaving the city because of how high the cost of living has become. Many people are moving to southern states. For example, Atlanta, GA has had a large influx of people moving and buying single family homes. One major thing southern cities like Charlotte, Dallas, Houston and Atlanta have going for them is the vast amount of space. There are plenty of places to build new homes. On top of that, there are a lot of tourist attractions within the metropolitan areas if you want to venture into the city.
Commercial real estate is not confined to the large attractive cities
Sometimes you have to forego flipping the lofts of Manhattan and venture upstate to Nyack. You have to be flexible when it comes to the commercial real estate business. Many investors want to conquer a New York or a Chicago, but sometimes investing in a Greensboro may be more profitable. In bigger cities you also have to deal with much more competition. Go to a city where you can be the big fish.
Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC
Arizona Tel: (623) 582-4444 Texas Tel: (512) 516-1177 Dennis@level4funding.comwww.Level4Funding.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.