Real Estate Investing Tips
There is only one real estate investing company in Albuquerque that has helped businesses reach their commercial property goals since 1937 — Berger Briggs Real Estate & Property Management. Our brokers have the knowledge, experience, and resources you need to make a responsible investment in commercial real estate.
Real Estate Investing Tips
Owning commercial property as an investment is different than purchasing a residential investment property. These real estate transactions are quite complex, often involving specific contractual elements that are not present in home-ownership agreements. There are also certain laws, zoning codes, and other legal requirements by which the property must abide. The many factors are why it is important to always have a trusted real estate investment company on your side. Berger Briggs’ team of brokers have the sound advice you need to make a responsible investment decision. Five tips we suggest to all of our clients include:
- Know the market before you invest. Albuquerque is a great place to purchase commercial real estate, but not every property will be ideal for your needs. Seek out properties that will continue to be profitable investments for years to come.
- Invest with a team of specialists. You should never enter into such an important real estate transaction alone. Bring together a team of professionals who will help you make a wise investment in a commercial property. A real estate investment company can help you through this process.
- Secure your funding early. You need to make sure you have the capital necessary to purchase and sustain this investment. This includes confirming that this asset can be afforded in conjunction with the other investments you have made.
- Speak with other commercial property owners in the area. We have worked with thousands of property investors in Albuquerque and many of them are happy to offer their experience, advice, and suggestions on how to best proceed.
- Have a backup plan. Despite your best efforts and due diligence, there is always a chance that unforeseen problems may arise. Have a backup plan in place to deal with these issues. Speak with your team to determine how you can safeguard yourself before you start the process of securing an investment property.
What are the Most Common Ways to Lose Money in Real Estate?
You want to make sure that you’re making smart choices with your investments, but investing in real estate can quickly lead to losing money. People lose money in real estate every day, and there are many ways to do so, including:
- People spend large amounts of money without fully understanding the investment – The most common way to lose money in real estate is by buying into a real estate investment you don’t understand. You can avoid this pitfall by consulting with experts before you make an investment.
- Buying a property without going to see it in person – Everything looks better online, including real estate. Don’t follow through with a real estate investment that you or a qualified professional has not seen in person.
- Trying to flip a property that is beyond repair – Many people see shows featuring investors “flipping” properties by fixing them up and reselling them in short periods of time, and try to buy cheap, dilapidated properties in undesirable areas. This normally leads to losing large amounts of money and getting stuck with a property they don’t want.
- Deciding against extra insurance – Always get as much insurance as possible.
- Listening to people who are not professionals – Listening to friends who have no experience investing in real estate is a quick way to land yourself in debt. Trust the experts who have made a career in real estate.
What are the Benefits of Using a Real Estate Investment Consulting Company?
There are many benefits to using a real estate investment consulting company. If you want to be sure you are making smart financial choices, using a real estate investment consulting company will give you peace of mind. Some reasons to use a real estate investment consulting company include:
- You gain years of knowledge from real estate experts – With a real estate consulting company you are able to use the knowledge they have gained from spending their lives in the real estate industry.
- They will do the heavy lifting for you – Real estate investment consulting companies aren’t like realtors; they only work for you and are able to view the property for you if you are located in another state, and negotiate on your behalf. They are also able to make sure that you will not be hit with any surprise costs, and will let you know if there are recurring fees, such as HOA dues.
- You will get the best deal – Real estate consulting companies are able to negotiate with more knowledge and experience, getting you the best deal possible.
- You won’t have to figure out any paperwork – Another perk of using a real estate consulting company is knowing that all of the paperwork you need is properly filled out and filed.
- They will explain all the legalities and taxes – Legalities and taxes can be complicated and expensive when it comes to investing in real estate. A real estate consulting company can explain all of the legalities and taxes associated with each investment in terms that are easy for you to understand.
Why Choose Us: Real Estate Investment With Berger Briggs
Not all commercial real estate companies can deliver the investment consultation you deserve. That is why Berger Briggs Real Estate & Property Management is the real estate investment firm Albuquerque investors trust. We uphold the highest ethical standards in our work and strive to deliver the finest real estate investing services in the state.
