5 Essential Commercial Real Estate Tips

From Brian Fielding of Fielding Investments and Fielding Companies

1. Maintenance Costs

1. Maintenance Costs

• When renting out a property, you must include the maintenance costs in order to figure out your finances.

• You should have a “rainy day” fund for maintenance expenses.

• Things happen: air conditioners break, storms happen and cause damage, etc. Be prepared!

• Setting aside a monthly amount into a designated place will help you to always be prepared for anything!

2. Taxes, Taxes, Taxes

• You need to always be aware of the cost of takes in your area.

• If your area’s tax rates are too high, you might end up with a negative cash flow.

• Make sure that you consult with a professional in order to establish whether you need to invest at home or somewhere nearby with a lower tax rate.

3. Advertisements

3. Advertisements

• Having a sale on your goods or want to have a sale to get rid of some old stuff?

• Some property managers won’t let you post signs, so be aware shares Brian Fielding.

• Always ask if there is an option to have a building-side advertisement to get more exposure for your business!

4. Build Strong and Lasting Relationships

• More than likely, you’ll need a partner to go in on a commercial real estate investment.

• Build relationships with the influential people in your community…you never know when it might benefit you!

5. Seek Out Help if You Need it

• At the end of the day, your best option might be to ask a professional to help guide you through the process.

• For more information, visit http://fieldinginvestments.net.