The strongest investment strategies usually make sense for the person behind them. It is easy to focus on returns, but investing is also about understanding how much risk you are comfortable taking, how long you plan to hold an investment, and what you actually need that money to do for you.
The best investors aren’t looking at everything. They’re looking for the right thing. That’s why having a clear acquisition strategy is one of the most important factors in successful commercial real estate investing.
Business owners usually know they’ve outgrown their space before they admit it. The signs are hard to miss. The team is constantly working around each other. Customers are waiting longer than they should. Every table is full, every appointment is booked, and you’ve reached a point where demand is there, but the commercial space won’t let you grow any further.
Most business owners do a good job budgeting for the expenses they expect. It’s the ones they don’t expect that usually cause the biggest problems. Everyone plans for rent, payroll, inventory, and utilities. Those numbers are relatively easy to estimate. What catches people off guard are the unexpected expenses that seem to happen all at once.
SOUP Network, also called the Society of Urban Professionals NYC, brings entrepreneurs, small business owners, executives, and professionals together in East Harlem to connect, learn, and grow.
Some of the best opportunities are the ones people walk right past. Everyone loves a polished, move-in-ready space. It’s easy to picture your business there because someone else has already done the hard work. The problem is that everyone else sees the same thing.
After more than twenty years in business, I wanted to build the kind of networking experience I would actually want to attend. A room filled with entrepreneurs, professionals, business owners, and community leaders who came with the intention of building real relationships. That’s what Next Level Networking is all about.
When I negotiate a commercial lease, I look at the entire structure, not just the monthly number. Free rent, buildout support, tenant improvement allowances, the lease start date, and other concessions can sometimes create more value than a lower asking rent.
Just because a business is doing well online doesn’t automatically mean it’s ready for a brick and mortar location. A physical space brings an entirely different set of expenses, responsibilities, and operational challenges.
I’ve learned over the years is that not every networking event is worth your time. After more than twenty years in business, I’ve become much more intentional about where I spend my evenings and who I spend them with. I don’t need to be in the biggest room. I’d rather be in the right one. And that’s why we have SOUP, the Society of Urban Professionals.