Brian Fielding of Fielding Investments is a 40-year veteran in the industry who knows that there are many factors that are involved in a great commercial real estate deal. From doing one’s homework for the property and the area that it is in to several other factors. Here are some of the best pieces of advice that Brian Fielding can offer to those who are considering investing in commercial real estate.
Make sure your investments will make a profit.
While there are many variables to commercial real estate investment, the end goal is always to make a profit shares Brian Fielding. It may be tempting to acquire a lot of properties at one time. Without making the proper calculations, however, more and more properties can put a large drain on investor’s finances. Buying too much too quickly can cause you to have some oversight on the more meticulous and detail-oriented items that can really cost you money in the long run shares Brian Fielding. Slow and steady definitely wins the race in the commercial real estate industry.
Understand how much you need to spend.
On top of your initial investment, you also need to be prepared for other expenses shares Brian Fielding. Commercial real estate investments are usually for a longer period of time than other property investments, meaning that you will need to think about setting money aside for repairs. Brian Fielding of Fielding Investmentsshares that roofs need to be replaced every 15-25 years and HVAC systems more than likely need to be replaced every 10-15 years as well. Other structural improvements such as pavement repairs, preventative maintenance and so much more will need to be addressed as well, so being prepared for these expenses will definitely be the investor’s advantage.