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Commercial Real Estate Improving With Record Investment
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I guess being able to find a proven commercial real estate agent who knows the ins and outs of the real estate game can definitely help in the long run. It’d be nice to know exactly how to land another record-setting investment.
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Hey everyone,
Just my opinion but this is true and false there are areas where commercial or mixed use properties are recovering or developing rapidly in the US, but without someone on the ground with real first hand knowledge of the city it can be risky. Its a sad fact but many American cities can have massive swings in property value in a matter of a kilometer or 2.
Just an example I joke about here in Kansas city. I saw a person trying to sell a strip of buildings holding small offices and shops between 31st st and Linwood Blvd on Troost Ave " A historic but depressed area" for 8 MILLION dollars the occupancy is close to 30% with none of the tenets appearing to be real money makers. The good news is the seller believes the property will be "valued at 24 million in future" HAHA while I do know some in the art community that believe that this will be a new entertainment district for the area, that is at least 20 years off.
While in the present I could think of a dozen or more commercial building much closer to revitalization and proven commerce for less than half the price of that 8 million dollar deal.
As Memphis TurnKey Property said you can get properties unbelievable cheap at the city tax sale, once owners don't pay the city for 3 years.
Speaking of the Missouri tax sale is coming up next month. This is an opportunity to purchase properties at the near lowest prices available. Ideally we try to contact owners prior to the actual tax sale so that we can get owners to agree to sell for tax pay off and a few thousand dollars to get them a new place. In this scenario we or our clients would receive the properties with clear title for little over the tax cost and avoid the feeding frenzy that can occur at the court house steps.
In the end do your own due diligence and if it sounds too good to be true... you know it is.
Christopher
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