Do you think it may be time to invest in commercial real estate for the betterment of your business? If so be sure to consider the nine keys to consider before investing…
- Define and understand your needs. Make sure the decision to buy a building fits in with your business plan.
- Allow flexibility for growth or contraction.
- Evaluate the opportunity as an investment as well as how the property fits your needs. Do a lease vs. buy analysis as a part of your financial analysis.
- Know the market and your alternatives.
- Do space planning and costing prior to removing conditions to purchase.
- Evaluate your opportunity costs. Is the investment return comparable to the additional return you could get from investing the money in your business?
- Have an exit strategy. Know how you will divest yourself should the need arise.
- Obtain the services of a professional to avoid costly mistakes and to make sure your decisions are sound.
- Remember that location is an extremely important key for appreciation and resale.
Contact Morris Southeast Group for your commercial real estate service needs in South Florida; we specialize in office and industrial properties.
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