For more than two decades, Anthony E. Westreich has been working in the real estate investment, development, and management fields. The CEO and chairman of Monday Properties, he is responsible for leading the reputable real estate firm. Under the leadership of Anthony Westreich, Monday Properties has invested in numerous commercial properties.
Investing in commercial property can be quite lucrative, but the amount of success you experience largely relies upon the property you pick. Determining the best location can be quite difficult, especially when it comes to commercial properties. If you want to reach your target tenants, you will want to find a property in an area that matters to them. You will also want a property that is in good condition, has few exterior and interior limitations, and adequate parking. Unfortunately, what was once the best location can quickly become less desirable, so you have to look into the location’s potential future, as well.
Once you have a good idea of which properties you want, you can start looking deeper into their potential value. Estimate their cash flow for the future and remember to include estimates for everything from mortgage and interest to vacancies. This gives you general idea of what problems you may encounter when buying a particular property. Further, look into the property’s equity growth potential. Doing so will give you a sense of how much money you should set aside for improvements.