Tag Archives: commercial real estate

Your Best Guide For How To Get The Most Out Of Commercial Real Estate

In most cases, commercial properties has a lot more potential for profits when compared to a residential property. Sometimes it can be difficult to find the best opportunities available. Read these tips to learn how you can maximize your chances of finding the best deals and concluding a good transaction.

Regardless of whether you are buying or selling, you should negotiate. Fight for the best price possible and make sure that all parties involved listen to you.

Before you jump into a commercial real estate deal, you want to get a lay of the land first. This means considering and examining the general income levels in the area, how high or low unemployment rates are, and looking at the hiring practices of employers within the vicinity of where you intend to invest. A home that is in a great area, like next to good schools and parks, and has jobs available, will have a higher value than surrounding properties.

In the beginning, a great deal of time might be required to spend on your investment. Finding a good opportunity, going through the transaction and making any necessary repairs to the property takes time. Do not cut corners on this process, just because it might take up a lot of time. Your efforts will be rewarded.

When starting out in commercial real estate, it is important you understand the measurement labeled Net Operating Income, or NOI for short. In order to be successful, you will have to make sure that you never dip into the negative.

Make sure you’ll be able to access power, water and other utilities for your commercial property. You’ll need to have quick access to water, electricity, gas and the sewer.

Ensure that you have reviewed your contracts before negotiating leases so that you minimize the chances of default. The less behaviors you have that constitute default, the less likely it is that you’ll have to deal with a tenant’s default. That is not a situation you would want to encounter.

Larger Issues

A letter of intent should be kept simple by focusing on larger issues and leaving smaller issues to negotiate later. By coming to agreement on the larger issues, it will make the negotiations go much easier.

Using a checklist is useful when you have multiple properties that you are considering. Take this list with you as a reference when visiting other properties, and use it when speaking with the property owners. You should not have any hangups about letting the owners know that you are still deciding on other properties. This may ensure that you get a much more viable deal.

If you are just starting out as an investor, you would be well-advised to work on just one investment deal at a time. Decide on one property type and educate yourself about the best way to handle it. Generally speaking, you’ll maximize your profit if you first become an expert in a single property type rather than a dabbler in many.

You should meet with a tax adviser before you buy anything. Not only can your tax adviser help you determine the total cost of your potential investment, but he can provide you information about the taxes on your investment and advise you about deductions you may be entitled to. The adviser can also assist you in finding areas with comparatively lower tax rates.

Find out what kind of negotiation style is used by prospective real estate brokers. Ask them what specific training, expertise and professional experience they might have. You want to ensure that the broker has good ethics, and is capable of obtaining the best deals possible. Request additional information or examples of the results from previous negotiations.

When you are diving into commercial real estate, you want a broker firm that maintains honesty. A good question to ask potential firms is how most of its money is made. They should be up front about what their business model is and any interests that differ from yours. You should know exactly how they will benefit from any transaction they take care of on your behalf.

Real Estate

You should have a better understanding of real estate by now. The world of commercial real estate is always in flux, so it is important that you keep up on the latest information and be prepared to change your methods as the market changes. This way, you will be able to see opportunities that other people don’t.

Helpful Tips On Investing In Commercial Real Estate

You will have a hard time finding the right kind of property if you do not know where you should look. Keep reading for a handful of real estate tips and tricks.

Negotiate, whether you’re the seller or the buyer. Ensure that your voice is heard, and that you are offering-or receiving-a price that is fair for both parties.

Before you make a large investment in real estate, take a look at local income levels, unemployment rates and the expansion or contraction of local employers. Properties that are near major employment centers, such as medical centers or universities, often sell more quickly and at a higher price.

Real Estate

Don’t be led by hype and fads when searching for commercial real estate. Do not rush into making quick real estate decisions. You might regret it if you are not satisfied with your real estate goals. Realistically, it can take upwards of a year to find the right investment in your local market.

Location is crucial when it comes to commercial property. Pay attention to the property’s surrounding neighborhood. Look at the growth in similar areas. By calculating growth in similar areas, you will be able to ascertain whether the piece of property you are looking at is going to continue growing.

If you are hesitating between different properties, buy the larger of the two. Getting adequate financing is very important in undertaking an investment that pertains to a ten or twenty unit apartment complex. In effect, this is similar to an economy of scale, or also like purchasing more of an item to save money.

Make sure that the broker you decide to work with has experience in the commercial market. Be sure that they specialize in the area that you are buying or selling in. Also, consider entering into an agreement that will be exclusive between you and that broker.

When selling a piece of commercial property, it is wise to ensure that you ask a realistic price. Your property’s actual value is influenced by many factors.

Make sure the property you are interested in has access to utilities. Every business has unique requirements, but for most, electric, water and sewer access will be required.

One of the biggest considerations in the process of attaining commercial property is to know the neighborhood of each and every prospective location. A business located in a well-to-do neighborhood might be more successful, since the potential customers will be able to spend more. However, if your products or services correspond to a specific social category, make sure you find a property in an area that corresponds to your target audience.

A letter of intent should be kept simple by focusing on larger issues and leaving smaller issues to negotiate later. The negotiations will become less tense and you will be able to better get an agreement on the more small problems.

Commercial Loan

If you are taking out a commercial loan, you must pay for the appraisal yourself. Your bank will refuse the appraisal if you try to submit it. Therefore, to protect yourself and keep your commercial loan on track, order the appraisal yourself.

Buying and selling commercial real estate requires the help of an experienced agent. Use the advice you learned here to stay as informed as possible.

Starting A Business? Commerical Properties Are The First Step

This collection of general commercial real estate tips is a great place for beginners to start learning. In the article below you will see a gathering of information that can help a beginner go from enthusiastic novice to becoming a pro in this field.

Negotiate, whether you are the buyer or the seller. Be heard and fight to get a fair property price.

Research local prices similar properties have sold for before setting a price for your commercial real estate. Most appraisers can’t take all factors into account because there are an infinite number of variables involved in determining the value of a piece of property. These variables can all make your property worth less than the appraisal claims it is worth.

One of the biggest considerations in the process of attaining commercial property is to know the neighborhood of each and every prospective location. Purchasing in neighborhoods that are in the upper price per square foot range will help for successful business because the surrounding owners have more money to spend. If the business you run caters to a lower-income demographic, buy in an area that fits your clientele best.

Always have an inspector look over your commercial property before you put it out on the market. Listen carefully to the inspector’s report so that you can immediately repair any problems.

Using a checklist is useful when you have multiple properties that you are considering. Take this list with you as a reference when visiting other properties, and use it when speaking with the property owners. Do not be scared to let the owners know about other properties you have in mind. You may even get a more favorable deal!

Know what your specific needs are prior to starting your commercial real estate hunt. List the qualities that concern you most in a property (e.g. restroom facilities, conference facilities, number of units available, square footage, etc.)

You might have to make improvements to your space before you can use it. This may be simple changes such as painting or rearranging furniture. Oftentimes, moving walls and other fixtures is required to redistribute the floorplan. Negotiate in advance who pays for these improvements or try to get the landlord to pay for at least a portion of the costs.

Always include emergency maintenance on your list of need to know things. Find out from your landlord who to contact for emergency repairs, such as plumbing accidents. Keep the contact numbers handy, and ask them in advance what their response time is. Protect your employees, customers, merchandise, and even your reputation by having a good emergency plan in place that will allow you to handle unexpected events without chaos.

Borrowers are required to order the appraisal in commercial loans. If someone else orders the appraisal, the bank cannot use it for the commercial loan. Be properly prepared by ordering the appraisal directly.

Stick with a firm that is looking out for your best interests before you enter into an agreement. Otherwise, you could be in for additional money later on due to their mistakes which could have been avoided in the first place.

Before you purchase a property, talk to a tax advisor. You adviser can help you calculate the overall cost you will incur in making the purchase, and what portion of the income deriving from the property will be taxable. By adopting the adviser’s counsel and expanding your search, you can find an area for expansion and building that will not endanger your current tax liability.

Hopefully the information contained in this article will help you to build a foundation of knowledge off which you can grow to profitable heights. Use what you have learned, and you will be able to navigate the complex world of commercial real estate with ease.

Read This Important Information About Commercial Real Estate

Commercial real estate can be a hard field that requires an enormous time investment. The financial rewards of investing often eclipse the expenditures in time and money. This article reveals several strategies for maximizing your success in commercial real estate.

When you are buying or selling commercial real estate, always negotiate. Fight for the best price possible and make sure that all parties involved listen to you.

There are many factors to consider as you view available properties. For example, you should take note of statistics regarding local employers, workforce availability and the accessibility of skilled labor. If you’re looking at a property that’s close to things like a university, employment centers, or a hospital, they’re likely to sell fast, and at a high value.

Use detailed photos to create this documentation. Make sure the picture shows the defects (such as spots on the carpet, holes on the wall or discoloration on the sink or bathtub).

Practice calm and patience when you are looking into the real estate market. Don’t jump into a new investment too quickly! If you buy a property that doesn’t meet your needs, you’ll sorely regret it. It may take a year for your needed investment to come about in the market.

Location is a very important part of commercial real estate. When investing in a property, consider what type of neighborhood it is located in. Compare this neighborhood to the growth of other similar areas. This is important, as you don’t want to be in a current growth area only to have the neighborhood stagnate in a few years.

If you are trying to choose between two desirable commercial purchases, the larger one may be the better choice. Getting the proper financing is going to the same hassle for a retail building with ten outlets as it would be for a retail property with twenty or even thirty units. However, buying several units will cause the price of an individual unit to decrease.

Educate yourself about the measurements of NOI: Net Operating Income. For the investment to be profitable, it has to produce more income than operating expenses.

Research local prices similar properties have sold for before setting a price for your commercial real estate. There are a lot of uncertainties which can have a huge impact on the price of your lot.

Real estate deals must include inspections, so check the credentials of the inspector. Pay particular attention to the credentials of any pest-control experts because many of them are not licensed. Reviewing credentials will help you prevent major issues after you make the purchase.

Commercial Property

When you buy commercial property, you can profit very well because of this. Be certain to mind the words of wisdom from the preceding paragraphs if you want to find success in commercial property.

Discover The Commercial Real Estate Techniques Of The Pros

Investing in commercial real estate takes a great deal of effort and time. However, the rewards it offers can outweigh the costs involved. Carefully apply the advice in the below article to provide you with assistance in succeeding in commercial real estate.

Commercial property dealings are exponentially more complicated and time intensive than buying a residential home is. Yet, you should realize that the extra focus on, and length of, the process is essential in order to gain a better return on the investment.

Your investment may require substantial amounts of your individual time and attention in the beginning. Good opportunities can be found if you look, and after you have made a purchase, the property may require repairs or remodeling. Don’t abandon you commercial real estate venture because it currently consumes so much of your time. You will reap the rewards of all your hard work.

When you are picking between commercial properties, think big! Getting enough financing is a huge undertaking, no matter if you get a ten-unit complex or a larger twenty-unit one. The concept here is the same as any other situation where you are purchasing multiple things. The more you purchase, the less you will pay for each unit.

Find out more about net operating income. Success means that your income outweighs your operating costs.

You should be certain that your asking price is a fair offer for your piece of real estate. There are a lot of uncertainties which can have a huge impact on the price of your lot.

For a commercial property you plan to rent out, make sure it is a solid construction with a simple design. These types of buildings attract tenants more quickly than other buildings, as prospective tenants know that the building is less likely to have maintenance issues. Because these properties are in great condition, the property owners and the occupants will have a simpler time with basic maintenance service.

Always keep tenants, otherwise, your commercial property will end up costing you money instead of making you money. If you’ve got open spaces, then the person will end up paying for maintenance and upkeep. You need to ask yourself why properties are not getting rented and fix any issues you discover.

Make sure the property you are interested in has access to utilities. Every business’ needs are different, but at a minimum, most businesses will need power, sewer and water services.

Less Wealthy

When buying commercial property, think about the socioeconomic status of the neighborhood around the building. If you are looking in a high-rent neighborhood, you may have a better chance at success once you get going because of the potential of area residents to have money to spend. However, if you’re offering services that less wealthy people may be more interested in, you probably want to purchase property in a less wealthy area.

Eliminate as many definitions of default (i.e., actions that constitute default) as possible before beginning to negotiate a lease with a new tenant. This decreases the chances that the tenant will default on the lease. You definitely don’t want this to occur.

Do a walk-through of each property on your short list. It’s a good idea to hire a building contractor to come with you and do on-the-spot inspections of properties you are considering. Make the preliminary proposals, and open the negotiating table. Closely review any counteroffers you receive prior to making a final decision. Remember the decision is an important one, so take your time.

In the beginning phases of your career as an investor, limit yourself to working with a single type of investment. The best way to learn is to choose one type of property and concentrate solely on it. Generally speaking, you’ll maximize your profit if you first become an expert in a single property type rather than a dabbler in many.

As previously mentioned, purchasing commercial properties has the potential for good profit. Applying the above advice should help you avoid common pitfalls, and succeed in the real estate market.

Effective Tips For Getting Commercial Real Estate

Commercial real estate isn’t a career to be taken lightly. People just like you have learned how to successfully invest in real estate; read this article to learn how to get started.

Make sure to negotiate whether you’re the seller or buyer. Be sure that your voice is heard so that you can get yourself a fair price on the property you are dealing with.

You must be patient to succeed as a real estate investor. Make decisions calmly and slowly–don’t be in a rush to buy a piece of property. Don’t jump into a new investment too quickly! You will be full of regrets if you are stuck with a property that is not what you expected. It may take a year for your needed investment to come about in the market.

Pest Control

If you are renting or leasing, pest control is important to look at. It is even more important to look into the building’s pest control policies if you are looking to rent or lease in a region where building pests are common.

Location is essential to the commercial real estate. You will want to consider many things, including the neighborhood that the property is located in. You will also want to calculate growth expectations by comparing similar neighborhoods. What you are seeing now in terms of commercial potential might be very different a few years from now.

You should expect your commercial real estate investment to require a significant time commitment. The time aspect of the investment includes finding the property and making any repairs to the property. Even though this work takes time, don’t lose heart! Stick with it and you’ll be rewarded.

Get the credentials of any person who will be doing an inspection on a property you are trying to buy. This is true when working with pest or insect removal, since many people who are non-accredited work in these fields. Staying on top of this will help you avoid issues after the deal is completed.

If you intend on putting your commercial property on the rental market, find a simple, but solidly constructed building. Tenants will be attracted to these spots because they are maintained well. In addition, these properties are low maintenance because they don’t frequently need repairs, a benefit to the owners, as well as the tenants.

Make sure you have the right access that has utilities on commercial properties. Look for access to water, electricity, gas an a sewer or anything specific to what you intend to use this property for.

When you are looking at a commercial property, be sure to look at the neighborhood, too. A business located in a well-to-do neighborhood might be more successful, since the potential customers will be able to spend more. Bargain-oriented goods and services will find a more receptive market in lower- to middle-class areas.

Be sure to have your property inspected by a licensed inspector prior to placing it up for sale. If they find anything wrong with the property, you should have it fixed immediately.

In writing letters of intent, focus on major issues to begin with. Many smaller issues will fall in line on their own with this approach. If not, you can work them out later. By coming to agreement on the larger issues, it will make the negotiations go much easier.

If you are checking out more than one property, draw up a checklist to compare the features of the different properties. Allow yourself to consider the initial proposal responses, but avoid carrying it any further without informing the current owners. Do not fear letting the owners know that you are interested in other properties. This may provide you with more room for negotiation.

Commercial Real Estate

The advice you have just read should help you get started on the right foot in commercial real estate. By following the advice in this article, you too can enjoy the rewards and exciting opportunities available in commercial real estate.

Commercial Real Estate Tips That Can Benefit Anyone

People start investing in commercial properties for a variety of reasons. However, all of those motivations should be your choice based on your existing knowledge. As with most things in life, the key to getting the most out of the commercial real estate market is to gather as much information as possible. The ideas in the following paragraphs are an ideal way to begin discovering more knowledge concerning commercial real state, either as your initiation into this world or just an expansion of what you already are aware of.

Your investment may require a large amount of time to begin with. It takes time to find a lucrative opportunity and purchase a propriety, adding to that time to carry out any repairs and alterations that are needed. You should know what to expect and not give up. Stick with it and you’ll be rewarded.

The Net Operating Income, or NOI, is one metric you need to master for success in commercial real estate. Make sure you are staying in the black to be successful.

Don’t become greedy and over-inflate your real estate asking price. There are a lot of factors that determine the value of the lot.

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. Pest removal companies should be closely checked because many non-professionals do this work. Ultimately, this can help you to bypass larger, more expensive problems.

If you desire to rent out commercial real estate, then you need to find solidly yet simply constructed buildings. Rental spaces that appear sturdy and well-maintained tend to attract tenants more quickly. Maintenance is also easier, because these buildings require less repair.

You should put an ad out for your commercial real estate when it is on sale, do it locally and out of town. Do not assume that only local investors will be interested. Many investors will consider purchasing a property outside their own region if the price is right.

You may need to make some changes to the commercial space you just rented before moving in. Cosmetic changes like painting walls and rearranging furniture might be needed. In many cases, walls must be moved and floorplans rearranged. Negotiate these changes ahead of time with the landlord. He may be willing to share these costs needed in order for you to move in.

If you’re new to investing, don’t focus on more than one kind of investment at the same time. Carefully consider the type of property investment you are interested in and focus your attention on it alone. You want to be an ace investor in one property type rather than just OK at many different types.

Commercial Real Estate

As stated earlier, there are a lot of exceptional reasons to look into commercial real estate investments, but being knowledgeable on the opportunities is important. If you apply the advice you learned in this article to your own commercial real estate endeavors, you will be well on your way towards maximizing your profits.

Practical Commercial Real Estate Advice For Everyday People

Commercial real estate comes with its own set of rules, making it an intimidating jump for those interested in purchasing property. It is sometimes overwhelming, even to those with much experience. By researching and reading this article, it will allow you to feel less stress associated with the commercial real estate journey.

Consider the economy in the area you’d like to buy real estate in before investing there. If you’re house is close to a university, hospital, or large employment center, they sell quick and at increased values.

Purchasing commercial real estate is a much more lengthy and complicated process than that of buying a home. You should understand that although this is a huge undertaking, when all is said and done you will receive a big return on the investment.

Commercial property is an investment. This investment is not just money, but also time. Although the investment might be a tremendous opportunity, it will only be good if you take care of any repairs or perhaps do a bit of remodeling. You should never give up because it is time consuming. You will reap the rewards of all your hard work.

When choosing between two similar commercial properties, think large scale. Getting the proper financing is going to the same hassle for a retail building with ten outlets as it would be for a retail property with twenty or even thirty units. Think of it like purchasing in bulk; as you buy more, each individual unit costs less.

If your plan is to use your commercial properties as rental properties, you should seek buildings of solid and simple construction. These units draw in the best tenants because they are higher in quality and have nicer appearances. In addition, these properties are low maintenance because they don’t frequently need repairs, a benefit to the owners, as well as the tenants.

You should go ahead and advertise any commercial property for both far and local people. Many people only think locals will buy their property, and that’s a mistake. Many investors will consider purchasing a property outside their own region if the price is right.

Conduct tours of potential properties. It may be a good idea to take a professional contractor with you when you check out properties you are interested in purchasing. Once you have all the details, start drafting proposals and enter negotiations with the seller. Evaluate and reevaluate the counteroffers before making any kind of decision one way or another.

When writing up a letter of intent, make sure to keep your offer simple and straightforward, focusing on the bigger issues at first and then figuring out those pesky, little details later. By coming to agreement on the larger issues, it will make the negotiations go much easier.

Identify any necessary improvements before you sign on a new space. This might include superficial improvements such as repainting a wall or arranging the furniture more efficiently. Normally, however, it may be something a little more involved like walls being moved. Decide in advice who will be responsible for these things and try to get landlords or previous owners to pay for some of it.

Be aware that not all commercial brokers are alike. Choose the real estate broker who will best help you meet your needs. Some agents represent tenants only, while brokers work alongside tenants and landlords alike. It might be most beneficial for you to hire a broker who works exclusively with tenants. A broker with that focus will be more experienced in successful dealings with tenants.

When you are first starting out in real estate investing, the best thing is to keep it simple and start with one investment strategy at a time. For example, concentrate your efforts on working with a single type of property. You want to be an ace investor in one property type rather than just OK at many different types.

Commercial Property

Both beginners and experts will find that finding the right commercial property is stressful and time-consuming. For that reason articles like this exist to make it a bit easier when thinking about buying commercial property.

Sensible Commercial Real Estate Tips

Getting involved in commercial real estate can overwhelm and stress out beginners and veterans alike. In this article, you can find tips to help reduce your stress when it comes to dealing with commercial real estate.

When you are buying or selling commercial real estate, always negotiate. Make sure that you are heard and that you fight for a fair price for the property.

Look at the neighborhood you’re thinking about investing into, you want to check things like unemployments rates, income levels, and different rates of expansion so that you have an idea of where the neighborhood stands, and what potential it has in the future. In addition, you want to keep in mind what else is close to the property. Any place that supplies a large number of jobs to the economy can raise the resale value of any property and make it much faster to sell if you decided to go that route. Big employers might consist of hospitals, factories, or universities.

Take photographs of the property. In the “before” photos, especially, make sure that the pictures clearly show defects such as stains on the carpet, discolorations in the tub and sink, and holes in the walls.

Educate yourself about the measurements of NOI: Net Operating Income. In order to be successful, you will have to make sure that you never dip into the negative.

Always ask to see the credentials of any inspectors you hire for your real estate deal. A lot of people have no accreditation, especially in pest control services. This helps avoid major post-sale problems.

Make sure that the commercial property has access to all utilities needed. Your business has its own utility needs, but you are most likely going to need water, sewer, electric and possibly even gas.

Pay for professional inspections of your commercial property before you put it on the market. If they do find anything amiss, get it fixed immediately.

You should put an ad out for your commercial real estate when it is on sale, do it locally and out of town. There are a lot of people who make the big mistake who think that only local people want to purchase their property. There are a lot of private investors who like to buy properties that are not in their direct area if they are affordably priced.

Take a tour of a property you might purchase. Even better, have someone who knows commercial real estate tour the properties with you. Make a proposal early, and get into the beginning stages of negotiation. Take your time and really explore your offers before you decide to buy or pass.

Keep letters of intent simple by tackling large issues before sweating the small stuff. By focusing on the big stuff first, you will have more pleasant negotiations, and you will be better able to manage small matters in the end.

If you are viewing more than one property, you may wish to create a checklist for each site. After you collect your first proposals from all the property owners, let them all know that you’re looking at other properties before you make your decision. Don’t be afraid to casually tell the owners that you are looking at other properties, too. You might walk away with more money in your pocket.

Commercial Property

Regardless of whether you are new to commercial property dealings or a seasoned professional, the act of seeking just the right deal can be very stressful. Apply the advice from this article to help make your search for that perfect piece of commercial property a little less stressful, and a lot more enjoyable.

Advice To Help You Master The Commercial Real Estate Market

Sealing a good commercial real estate deal involves a lot of time and can be very hard to pull off. However, you can be highly rewarded in the end, despite the costs. Use these tips be successful in commercial real estate.

Another factor to be aware of when shopping for property to rent or lease is who pays for pest control. If you are renting a space that has known vermin problems, be sure to find out exactly who is responsible for pest control.

Do some research on the internet to learn more about real estate and investing, whether you have a lot of experience already or are completely green on the matter. It is wise to learn all you can, as it is impossible to know too much.

Commercial transactions are significantly more time-consuming, complex and involved than the home-buying process. Remember that the time and efforts you are investing will pay off.

You should think about what neighborhood you are going to buy the commercial real estate in. Expensive, luxury-oriented businesses will thrive in more affluent neighborhoods. Yet, if you have a business that might thrive in a neighborhood where the not so well-off would opt to go to your business, then maybe that kind of neighborhood is for you.

Prior to listing your commercial property for sale, have it checked out by an inspector with at least five years of experience. If there is anything wrong with your property, have it fixed right away.

When you’re shopping multiple properties, prepare a checklist to make the task easier. Take initial personal responses, but don’t go further without the property owner knowing. Do not fear letting the owners know that you are interested in other properties. It might lead to a better deal.

Emergency maintenance is something you must include on the have to ask sheet. You should ask your landlord who is in charge of handling emergency repairs. Be aware of the response time of emergency personnel, and be sure to have their contact information handy. Take advantage of this information to devise a contingency plan in order to prevent and respond to customer complaints resulting from maintenance issues.

A variety of kinds of commercial property real estate brokers exist. For example, full service brokers will work with landlords and tenants, while other brokers only represent tenants. A broker who works only with tenants should have more experience and should represent a better choice for you.

Real Estate

As discussed previously in this article, investing in commercial real estate properties can be an extremely profitable endeavor. Applying the above advice should help you avoid common pitfalls, and succeed in the real estate market.