The build of your fence is another key factor. Fencing projects can involve all sorts of fences. An aluminum ornamental fence is a traditional way to go. A more durable vinyl fence can also be used. You might even consider a chain link fence or a steel fence. These are all good options that can work for different properties.
I go back to the point that relationships in our industry are really important. It can take months or even years with some prospects to get to the point of doing business with you. The ‘cycle’ of commercial real estate is quite long in both sales and leasing.
What are your current mortgage terms? Are you refinancing because you want a lower rate? Longer amortization? Want to pull cash out? Or do you have a ballooning loan? What are your long term goals?
What was the original purchase price and realistic estimated real estate value. When was an appraisal last completed and what was the appraised value? Try to not make the typical mistake of overvaluing the property – you will be the one that pays for that mistake. Calculate your net operating income and find out the current market cap rate in the subject properties area. Then do some basic calculations to get an idea of the income value.
Even worse, they will often take as large an upfront bonus as possible and leave you with a much lower split of laundry income for the life of the contract. The larger the upfront bonus, the less you will recieve in profit sharing.
Before you even think about making big cuts in expenses, have an idea of what your retail industry averages are for your type of retail business. A comprehensive comparison will help attain clarity and will be the basis for a new retail profitability plan. Now that you know what to aim for, let’s move forward. Let’s say that after your comparison you have found major issues with the following expenses. What steps will you take to cut expenses and improve profit?
What type of commercial property are you refinancing? Different building types of vastly different terms. 80% loan to value on a stated-income restaurant deal will not fund while an 80% loan top value on an office building will. The property’s zoning will dictate into which tier your property fits.
You can also work with a realtor. Realtor can help you in your quest for Sarasota real estate investing. He can help you to gain some information about the market and the properties for sale in Sarasota real estate. He can show you the properties that you can invest with.