Commercial Real Estate Analytics and Can You Purchase Your First Home without Current Local Market Growth Data. Purchasing any commercial property is a huge leap forward for any real estate professional and real estate investor. Typically you are making a huge economic investment decision based upon very limited data. The expense and money you will commit can really stressful with lots or unanswered questions, like did you make the best and optimal purchase. Use the tips in this guide to gain success and ease your concerns. This is a great time to turn to commercial real estate as an investment as long as you or your Realtor, has access to the latest local Census Block Group growth patterns and the latest current local commercial real estate analytics tools and commercial real estate technology.
Key Questions to Ask Your Realtor about Commercial Real Estate Analytics
You should ask questions about their track record. A good agent will be happy to answer all questions you have.
Ask them: What are the top 10 factors that affect pricing in my Block, Track, or Zip Code, and see what they say. Make sure they are informed as to what affects local commercial real estate future commercial price growth, and not just access to standard commercial property data. And a top agent who has access to local real estate market growth data and what affects future price changes, should have an answers for you on their phone or tablet, since they can access these core datasets from vendors.
If you want to buy either a whole building, or space within a building to open a shop, make sure that the location is in a viable and relatively safe neighborhood. Starting a new business in the wrong neighborhood will not win you many customers. Talk to a real estate agents and find out what prime business locations are available.
You don’t want to have a commercial investment that needs major revisions.
This can be a serious problem if there are structural issues after you buy the inspector an extremely cost-effective and-safety conscious choice that should never be bypassed. And Blogs like Calculated Risk http://www.calculatedriskblog.com/2016/10/leading-index-for-commercial-real.html has some good into too.
Where to Find Help and Commercial Real Estate Analytics
Ask your friends and family to recommend you an even better idea of who to trust. As of today, Growth Maps is the only platform that delivers real-time local commercial real estate analytics at the Block Group levels, but if you can find current info for free someone else, please let us know. If you’re looking to buy commercial real estate as something to invest your money on, find a good commercial broker or commercial real estate agent to help you.
It feels great to finally own commercial property! Just be sure to keep the cost in mind, and be sure to make the decisions wisely. With improved and current local commercial real estate analytics, commercial real estate professionals and commercial real estate investors can make profits….and commissions.
As always, your feedback and comments are most welcome and appreciated….
Thanks, Eddie G