Debunking 3 Commercial Real Estate Myths
If you’re searching for commercial real estate to buy, you are stepping into an exciting world full of possibilities and money to be made. Frustratingly, there are many commercial real estate myths floating around the Internet that may cause you to step away from your dream. Consider the truth behind these three myths:
Myth #1: Brick-and-mortar buildings aren’t desirable anymore due to eCommerce.
While online shopping is on the rise, traditional brick-and-mortar shops are still very desirable. Especially with the holiday season quickly approaching, malls and stores all over Georgia will see an increase in shoppers. Consider this idea: buy a storefront for your new business and create an opportunity to sell your items online. Having both a brick-and-mortar store and an online presence strengthens your brand and legitimizes your company.
Myth #2: Properties that are for sale always have something wrong with them.
This is far from the truth. People sell their property for varying reasons. Be bold enough to ask them why they’re selling, but also be wise and have a professional inspect the space to determine if there are any red flags. Take it one step further and conduct your own research, title search, and ask those in the commercial leasing business for their advice.
Myth #3: Commercial real estate requires too much money.
It’s true that commercial real estate costs more than residential real estate (normally). But, some argue that there is more money to be made with CRE. If you want to team with investors, it’s important to present them with a plan that shows how potential profit will go back into their pockets. Take time to plan accordingly for all seasons, have a backup plan, then create a backup plan to your backup plan.
Often, commercial real estate matters call for knowledge in related areas of law. Don’t hesitate to contact the SPGG attorneys with your commercial real estate needs.