Tips for Investing in Commercial Real Estate

When people first start to get involved with real-estate, it is often when buying a single-family house. However, many people overlook the benefits of investing in commercial real estate either in their area or across the country. There are plenty of reasons why you should get involved in commercial real estate – from making profits to helping an area develop exponentially in a positive way. Regardless of how big or small your investment is, here are a few tips that will help you reach more success as you explore the world of commercial real estate:

The first step when it comes to investing in commercial real estate is to think big, especially if you are getting involved with commercial financing. It’s important to note that the more units you buy, the cheaper they will be per unit. Most commercial real estate investors recommend buying properties that have at least 10 units

Next, remember to take your time. Unlike investing in a single-family house for the first time, commercial real estate deals take much longer to purchase, renovate, and sell. Try not to rush through this process, as you will be more prone to making investment mistakes if you do so. An article published by Nu Wire Investor suggests to “think of commercial deals as big bonuses or your retirement vehicle, not a way to create quick cash to pay the bills,” (10 Tips for Investing in Commercial Real Estate).

While we’re on the subject of time, be prepared to spend a lot of your spare time focused on your commercial real estate investment, especially if you are new to the field. Houses all tend to be very similar, so if you’ve gone through a few processes of buying and selling residential real estate, you’ve probably noticed how quickly things get done your second and third time buying and selling. This is not true with commercial real estate. It will take the most time at the beginning, when you are deciphering between deals and making offers – just make sure you stick it out and know that things will get easier as time moves on.

Remember, investing in commercial real estate is a learning curve and a time commitment, so give yourself some slack if you think things are not going the way you planned. For more information about investing in commercial real estate, read Nu Wire Investor’s article here.

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Filed Under: Commercial Real Estate, Gary Richetelli Tagged With: Commercial Development Company, Connecticut, Gary Richetelli, New Haven County, Orange, Property Management, Real Estate

New England Spring Open House Tour

On Sunday, May 3rd, The Greenwich and Old Greenwich offices of Berkshire Hathaway New England Properties will be hosting their Spring Open House Tour.

The event will kick off at 11:30 am at their Greenwich office on Putnam Ave, where there will be a short, insightful presentation on real estate. The presentation will include some of the most essential topics when it comes to buying and selling in today’s real estate market, such as: market trends, making sense of local sales data, how to prepare your home for sale, negotiation tactics, and how to select a real estate agent.

Lunch will be provided after the presentation, followed by over thirty open house tours hosted by various agents. You won’t want to miss out on viewing some of Connecticut’s most talked-about real estate, especially if you are thinking about buying or selling a property. The open house showings will be ending around 4 p.m.

At this event, information will be provided about various vendors’ companies and services, along with a distribution of discount coupons to use at local restaurants.

For more information, check out the Berkshire Hathaway’s New England Properties and Home Services site here.

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Filed Under: Real Estate News Tagged With: commercial real estate, Connecticut, Gary Richetelli, Open Houses, Real Estate

How to Sell Your Home Faster

Although when most people think of real estate, they think “location,” it’s important to note that location and pricing aren’t the only factors that go into successful real estate endeavors. There are many smaller-scale, unique factors that aid in selling your property more quickly that most people overlook. Let’s take a look at a few good ways to plan and sell your home at a better price so that it can get off the market as fast as possible:

First, know the best time to list. Spring is usually the go-to season in the real estate market, but spring is also a very general term with a wide range of months. So how can you know exactly when to put your house on the market? According to an article published by CNBC:

“‘In every market, there’s this sweet spot,’ said Humphries, who is also the chief economist at Zillow.com. Aim to list after the first wave of sellers in January and February, and before the influx of buyers in April and May, which will mean your listing pops up when most buyers are starting their hunt, boosting the average sale price by 2 percent. Nationally, that timing works out to the last two weeks of March, he said, or maybe a little later for cold-weather locales,” (Grant, The ‘Unique’ Reason Your Home is Still on the Market).

It is important to look at trends in the current market before you put your house up for sale, because just a few weeks too soon or too late could hurt the final results.