Industrial and commercial properties constantly come to market, but don’t get the highlighted attention or preferential treatment that residential homes do. You must know where to look, and this article will give you some tips so that you know just the right places to find good commercial properties.

Regardless of whether or not you are the seller or the buyer, negotiate! Make your voice heard and strive for fair market value pricing.

Consider the economy in the area you’d like to buy real estate in before investing there. For example, buying a home near a large employment center, such as a university or hospital, will lead to a higher value and faster sale down the road.

Bring your digital camera along, and use it. Make certain your photos highlight specific defects such as carpet spots, wall holes and bathroom discolorations.

Pest Control

Bugs and rodents are always looking to ruin your property, so factor pest control into your business strategy when renting commercial property. Especially when you rent in an area known to be infested by bugs or rodents, ask your rental agent about pest control policies.

As with other property purchases, pay attention to the three Ls: location, location, and location. Consider the neighborhood of the property. Look at similar neighborhoods to determine the likely growth trends over time for your property’s neighborhood. What you are seeing now in terms of commercial potential might be very different a few years from now.

There are many things to consider when determining the best option between two commercial properties. When choosing between the two, think big! Regardless of which way you choose, coming up with the capital is a common factor, so often times it will be be worth digging a little bit deeper to get the larger property in order to maximize your long-term profits. Just think about it as the more you buy the lower you are paying per unit, so you save more in the end.

Educate yourself about the measurements of NOI: Net Operating Income. Success is about staying in the green.

Inspections are necessary before buying any piece of real estate. When arranging an inspection, be sure to check both credentials and reputation before hiring an inspector. This is especially true of people who work with insect or pest removal, as there are many non-accredited people working in these fields. You’ll have less problems after the sale, as such.

Commercial Property

Take the neighborhood into account when purchasing commercial property. If the property is located in a prosperous area, your business is more likely to succeed because your potential customer base is going to be wealthier. If your product or service tends to appeal primarily to lower or middle class consumers, look for commercial property in a more conservative neighborhood.

Have an understanding on what exactly it is you are looking for when it comes to commercial real estate. Think of any property features that are high priorities for you and list them down, like the number of restrooms and office, conference room availability and overall square footage.

Consider any tax benefits you’ll receive through a commercial real estate investment. Investors receive depreciation benefits as well as interest deductions. However, investors are sometimes taxed on income that they do not actually receive in the form of cash. This is known as “phantom income.” You should be mindful of phantom income prior to investing.

Real Estate

Finding the correct kind of real estate is just half the battle. Just a little knowledge will go a long way in helping you seal the best deal in commercial real estate.