Commercial Real Estate – Should You Lease Or Own?
In many respects it takes time to connect with the right prospects and build the trust that will open the door on future business. With the major clients you will find that many agents are chasing them just as you are. To connect with these top clients, something has to trigger the relationship and build that trust that they want to see.
Then jot down all things you would like to have, experience and own during your retirement. This would include things like vacations, finances, assets, home, hobbies etc. This will help you plan out your retirement so that you can own as well as experience these things without feeling the financial crunch. Do not forget to take into account health care as well as emergency situations.
Be sure your inspector specializes in what you want him to do. In this case, make sure they specialize in residential / home inspections (instead of commercial property inspections).
Ideally you’re looking for entry level to lower mid-range housing, 15 – 50 years old. It’s OK if the area is a little blighted as long as things are on the upturn. Look for visible signs of redevelopment.
Health is important in retirement. While you may have all the money to take care of your health needs, you still need to take steps to ensure you have a healthy retirement. This means making lifestyle changes and quitting smoking and drinking while concentrating on eating healthy and exercising regularly.
General experience is fine, but regional or local experience gives a home inspector an extra edge. For instance, if an inspector has been working in your area for a long time, they probably know about unique conditions to watch for (radon levels, basement moisture, life expectancy of roofing, etc.).
Also, it is important to analyse the risks, advantages and disadvantages. Buying commercial properties are more risky as compared to homes. These can be very dependent on certain factors. Different places or areas can have different rules. Make sure to check local rules and regulations because they might be something that you do not agree with or will not be good for the kind f business you are in.