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Confused About Commercial Real Estate? These Tips Can Help!


You need to have your ducks in a row before investing in commercial real estate. No matter how much you think you know on this subject, it is possible that you are missing something small, or that you were unaware of. Read on to get some insight into commercial real estate investing.

If you're trying to flip houses for a living, you need to make sure you advertise yourself. Have a website, get business cards, put ads in the newspapers for the homes, etc. If you want to make money, you need to treat this as a business, or else you can't expect business-grade results.

Determine your financing methods before you even start looking. It is just a shame to find the perfect property only to find that you are in a bind when it comes time to pay. You should determine and qualify with a lender before you start looking for the right property so you have your finances set when the time comes.

It is important that you understand that the real estate market is not like the stock market. An investment in a property is a long term investment. Stock investments are usually short term investments. If you go in thinking you are investing in stock, you need to rethink so you do not get yourself in financial trouble.

You must be patient to succeed as a real estate investor. Make decisions calmly and slowly--don't be in a rush to buy a piece of property. Don't invest in a hurry. If the property turns out to be wrong for you, you will regret your decision. It could take some months, possibly a year, for your dream investment to appear in the market.

Ensure that the amount of money you want for your commercial property makes sense, given local market conditions. A variety of different criteria require consideration in order to increase or decrease your property value.

When considering the purchase of commercial real estate, it is important to understand that you may incur upfront costs that are significantly higher than those in normal residential transactions. You will still need to have the property you are considering appraised and assessed by property inspectors, engineers, and other appropriate tradespeople as you determine its worthiness. These inspections can cost upwards of several thousand dollars and may end up yielding information that will lead you to the decision that the property is not a viable investment after all. While this is valuable information you want to know before finalizing your contract, it is important to understand that these "sunk" costs can occur.

If you are looking at a particular commercial real estate listing, and you come into contact with a person who is at the property - be sure to find out if they are an agent or an employee of the owner of the property. It will protect the interests you have in the property.

When looking to sell a commercial property, make sure you look at all your offers. Don't just take the first one. You want to make as much of a profit as you can. This is a business and you don't want to sell yourself short. Ask for advice if you feel your need it.

https://honoluluproperty.blob.core.windows.net/neals/honolulu-property-management.html to consider when you purchase commercial real estate is the commercial properties neighboring you. For example, if the properties near you have booming successful business you may get business by simply being next door and having a lot of customer traffic in the area. Also you could get business just from the euphoria of happy customers from the other businesses.

When looking to buy a piece of commercial property you may want to look at areas that are not local to you. There are commercial properties that are for sale everywhere. Some are more reasonably priced than others are. You could start making a profit off of a piece of commercial real estate a lot quicker if you put less of an initial investment down.

Avoid permitted use clause at all costs. If your landlord insists on it, make it a broad one to ensure room to grow your business. At the time of leasing, you might use the office for a very defined and narrow purpose. Your goal is though to grow and improve your business which might be impossible if your permitted use clause is too narrow and significantly limits your use.

If you plan on getting in a commercial real estate lease, you should be sure you have a kick-out clause, which concerns breaking the lease at an earlier date. With a kick-out clause, you have the flexibility to pay a penalty if something were to occur, instead of having to pay the entire full term lease.

If you are novice investor, you should start off with just one single type of investment. The best way to learn is to choose one type of property and concentrate solely on it. It's better to be very good at one particular type of real estate than to be okay at a lot of different types.

All of the many foreclosures don't necessarily mean that you can get commercial property for a great price, automatically. What it means is that property values are still plummeting. Use the information in this article to ensure that you avoid getting into an overpriced property with little value. If you can use these tips wisely, you'll do just fine.

Rail funding, real property tax hike weighed by Honolulu City Council in new tax bill
HONOLULU (KHON2) — A bill to tax visitors to Oahu is moving forward in the Honolulu City Council. The 3% tax will help to fill county funds after losing out on about $45 million from the state.


For years, the Transient Accommodations Tax (TAT) was designed to help with tourist impacts on the Hawaiian islands as it was collected by the state and distributed to the counties. Now, new state law allows the counties to collect it themselves at a maximum of 3%, but some councilmembers are concerned that the money will go toward the Honolulu Rail Project.


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Under Bill 40, Honolulu could collect up to $7 million per month.


“We do need to fill that $45 million puka, and that’s the first thing that the bill does,” Tommy Waters, Honolulu City Council chair and the presiding officer, said.


That money would be divided up between:


Parks and natural area support


General fund for things like police, fire and rescue costs


The Honolulu Rail Project


Hawaii residents want better management of booming tourism industry


“Now what we have in front of us is a bill that would use that money that was supposed to help with the impacts of tourists to pay for rail,” Honolulu City Councilmember Heidi Tsuneyoshi said.


The amount of revenue that would go to each has yet to be determined. Some councilmembers warn against another option to fill the $45 million lost — a rise in real property taxes.


“If there is no action taken on this 3%, there is no 45 million, then we get to cut the budget,” Honolulu City Councilmember Calvin Say said. “Let’s be honest with ourselves, I’ve publicly said all of us in this chamber. We don’t agree with raising property taxes on our residents.”


Tourism arrivals expected to remain high through 2022, Maui overwhelmed


Honolulu Mayor Rick Blangiardi fully supports the bill but does not yet know how much revenue will be used for the rail.


“Clearly I have no apprehension at all about allocating the rest of those resources. We’ll determine what that is once we can deal with the specifics towards offsetting the cost of rail,” Mayor Blangiardi said.


As the economy continues to recover from the COVID pandemic, some industry experts have warned against putting a tax on Hawaii’s economic driver.



https://docs.google.com/presentation/d/1Y-6SaXPjRVtz9jg2jKWxkVu8RmnC1PiZlvtFgdq4U1E/edit?usp=sharing

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