Check out these four tricks used to get you to spend more (without you knowing it).
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Like the housing market, the commercial real estate market has had a tough few years. Property values are down across the board and some owners are facing foreclosure or are even handing over the keys to their properties to the mortgage holders.
The upside? There’s tons of opportunity for the right investor.
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Commercial real estate investing Dave’s way means buying properties with no debt. That’s gives you three distinct advantages in today’s market—actually, any market.
Cash buyers get deals.
The National Association of Realtors (NAR) says commercial real estate sales prices are down as much as 16% fom last year. If you’re looking for a deal, now’s the time to get one. But be realistic. The NAR reports a gap between what buyers are willing to pay and what sellers are willing to accept. Don’t walk away from a good deal just because it isn’t a steal. Do your homework so you’ll recognize a good deal when you find one.
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A huge hurdle is removed.
According to the NAR, the number one reason more investors aren’t buying properties is financing. Banks are slow to lend money for commercial property because they’ve been stung so many times by borrowers who default or simply walk away from their properties. As a cash buyer, financing isn’t an issue for you. Sellers will know your offer is good, and they’ll move fast to keep from losing the sale.
Let the slow cooker cook.
Since you’re buying your commercial property with cash, you’ll avoid the trouble that so many owners have now—payments. With fewer tenants, these owners struggle to make their mortgage payments, and they have to get their properties sold. Since you own your property outright, you can wait for the economy to pick up and tenants are lined up with rent checks in hand.
If you want to invest in commercial real estate, get started right by working with one of Dave’s Endorsed Local Providers. An ELP is an expert you can trust in your local commercial real estate market. Contact your ELP today!