While purchasing residential real estate is a common transaction, making a purchase related to an industrial property can be a little more complex and sometimes even a bit daunting. Here are a few simple and easy ways to get it right even if you're buying an industrial property for the first time. For example, ask as many questions as possible in the beginning before actually starting your search. Ask yourself things like what location will work best as well as the kind of property you are ultimately looking to purchase. You should know in advance whether you prefer to lease or buy a property and what type of financing will be best for your particular needs. Also worth considering is whether or not you will go to the journey alone or bring on a partner.
Inquire What an Atlanta Commercial Property Is Currently Being Used For
Another great tip when it comes to purchasing industrial real estate is to visit as many properties as possible to make the search easier and more successful. Consider various aspects of each property including location, price and condition. One thing to keep in mind is that of location. Just as with residential real estate, getting it right when it comes to the perfect location can make all the difference. When viewing a property always inquire into what the property is currently being used for and what it can be used for in the future. It is also a good idea to ask how much rental income the property generates currently each year. Equally important is to know in advance what kind of taxes may be associated with the property and if and when any repairs will be needed. A great question to always ask with either residential or commercial real estate is why the original owner is selling.
Commercial Real Estate Agents To Lawyers And Even An Account
When purchasing industrial property in the Atlanta area always surround yourself with experts in the industry. Keep in mind that purchasing commercial real estate can be a complicated process requiring a number of different experts. Experts in the field include everything from commercial real estate agents to lawyers and even an account. Have your mortgage broker chosen in advance and perhaps an experienced building inspector. Whatever the case may be one thing is certain and that is that taking the time to get all your ducks in a row before hand will ultimately save you money over the short and long term. When it comes to purchasing Atlanta industrial property, remember that it is never recommended to sign anything or make an offer without the approval of your attorney. Follow these simple and important tips and strategies to make your next Atlanta industrial property purchase a big success right from the outset. Contact Wiedmayer & Co. today to learn more about Atlanta commercial real estate properties as a viable and important investment strategy.