How to Find a Great Deal on Commercial Properties  

In recent years many investors have chosen to go into the commercial property market, following 2008’s economic crisis, prices went into free-fall and whilst many savvy investors picked up great deals at this time, many avoided the market as it was unstable and very volatile. The market has leveled out in recent years and now is a great time to invest in commercial real estate. Getting a great deal on properties requires a lot of careful planning and work on your behalf, here are some tips to help you make sure you can get a great deal on your next investment.


Use a Broker

Using a broker is the best way to make sure that you can get a great deal on your investment, many decide against using a brokerage firm on financial grounds but in my opinion, using a firm like this can save you money. I use a commercial real estate broker called Welfont who help me in finding the properties that I want, getting the best prices for me and handling all of the negotiations, Joseph Johnson Welfont Group’s CEO runs an incredibly strong company who offer brilliant service from bid to buy. I cannot recommend using a broker enough, the amount of time I save in all aspects of the investment is incredible and for this reason I think that hiring such a firm saves me money as you cannot out a price on time.

 Use Every Tool You Have

 When looking for properties to invest in it is vitally important that you use all available ways to find them. You should be spending much of your time raking through classifieds, searching the internet and even hire bird dogs to seek out the best deals. Bird dogs are people who have spent years in the industry who are constantly on the look out for available properties, if you use one then all you need to do is tell them what it is you are after and then send them on their way and see what they come back with.

 Don’t Discount Damaged Property

 Some of the best deals that you will find will be on damaged or dilapidated properties, disused or run down buildings that are going to require some work on them before they are fit for purpose. Most owners of properties such as these can’t wait to get rid of them and are more than happy to let them go at hugely discounted prices. Naturally if this is the option you choose to take, you need to ensure that you not only have a team available to move in quickly but also that you have costed them into your budget. You should always seek advice from professionals before buying property such as this as there is the possibility that the damage could be irreparable and will end up costing you far more money than you had bargained for.