Consider This.....Shopping Centers

Shopping Centers:Things to Consider before Investing
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Owning a Texas commercial real estate such as a shopping center can really turn out to be a good investment if upon evaluation of the property, it meets a few basic qualities for success. Not all Texas properties are equal when it comes to these factors. Investing on one that meets most if not all of the suggestions below are much better than just randomly buying a shopping mall simply because you can.

Factors to Consider when Evaluating Texas Commercial Real Estate ________________________________________

One of the most common kinds of commercial real estate is the shopping center. Next to apartments, shopping centers are a fad among some owners of Texas properties because malls are where the money is.

• Location – Check where the existing property is located and evaluate its appreciation value—or its increasing value over time. Is there much potential for growth in the area? Is the place currently surrounded by neighborhoods, or is it near a developing community? See whether it is accessible to a lot of people and if it can maintain its profitability over the years by being in a busy place in the neighborhood.
• Building condition – When was the building made? How is its current condition? These are two main questions when it comes to evaluating the condition of Texas properties. You may need the advice of an engineer when it comes to checking the condition of the building to see if everything is still stable and won’t fall out. If the building is an old one, having the expert opinion of an engineer to assess the building will pay off. You may also get price negotiation tips when buying the property if it is not currently in a very desirable state.
• Renovations – If you plan on purchasing Texas properties which come at cheaper prices, you have to know why. Usually, this is because the building is no longer in a good condition; it may even be far from it, hence the cheaper price. If you have a lot of renovations to do, consider how much it would probably cost plus the amount of the property and see whether the building would be worth your money and effort.
• Budget and partnership – Shopping centers are not small purchases. These places are usually big and come with hefty price tags. As a sole investor, you would need a lot of money to set things in motion when buying a commercial property. Consider the above factors and determine how far your money can take you. If it’s too much, you may want to look for partners when it comes to your shopping center investment. This helps take a certain amount off of your shoulders while still having your business plans in motion.

Don’t jump into investments simply because you have the funds. Successful business owners take time to think things through and are mindful of such considerations to help ensure their investments do not go to waste. Spend some time to check these factors and then make your decision to invest or not to invest!

If you or someone you know, is interested in investing in commercial real estate, feel free to contact me:

Allen J.-Texas Real Estate Broker www.TexasRealtyPros.com broker@texasrealtypros.com 832-305-7653