If you've been considering commercial real estate investment as a way to grow your portfolio, you may have started exploring the possibility. In your initial research, you might have even come across some common myths that have discouraged many people from what could be a potentially profitable investment. Understanding the facts about commercial real estate investment is important to help you decide if it's the right choice for you. Here's a look at a few of the things that you need to know.
You Don't Have To Be Wealthy
Some people mistakenly believe that commercial real estate investment is only possible if you're wealthy. The fact is that there are many different ways to invest in commercial real estate and almost as many funding opportunities. If you're looking for a sound investment that will provide you with a stable revenue source, commercial real estate can be just that regardless of the size of your bank account.
Commercial Real Estate Isn't Time-Consuming
You might even hesitate to invest in commercial real estate out of concern that the maintenance and upkeep will take too much of your time. Don't let this common misconception discourage you. In fact, you can be hands-off of most of that maintenance and upkeep if you work with a property manager or other similar company. Then, you just worry about making necessary decisions and your property management company can handle all of the day-to-day details.
It's Important To Call A Commercial Real Estate Agent
Many people look to handle their property investment journey on their own because they don't want to pay real estate commissions. The fact is that you're better off working with a commercial real estate agent because a lot of commercial property listings aren't made public. Instead, you'll have to reach out to an agent who can check the MLS for available options. Not only that, but an agent can call you as soon as something hits the market that meets your preferences, which reduces the chances of you missing something by doing it on your own.
Commercial Real Estate Is Low-Risk
One of the reasons that many investors choose commercial real estate is the low risk factor. If you want an investment that isn't going to leave you at risk of losing everything, consider opting for commercial real estate. You can lease the property for monthly revenues, or even renovate and flip it for a profit.
These are some of the things you should know before you decide whether or not to invest in commercial real estate.
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