So we talk a lot about when is a good time to buy commercial real estate, but what about the other side of that? When is a good time to quit the business and move forward?
Are you looking to buy a multi-family asset in the next three years? All these different things are going to play into your experience as an owner. If you’re not comfortable taking those risks, take a step back and reconsider investing in real estate.
So maybe not in other cities, but in New York City, real estate and politics are kind of married to each other. Why is that?
So commercial leases come in various forms. Some are modified gross leases.
So if you are a tenant, and you’re going into a relationship or a lease with an owner, please be sure to talk to your broker about what is the type of lease the owners offer – is it modified gross, is it a gross lease, is it a percentage lease or a triple net lease?
During a market shift, you can find that opportunities may be more available to you because the prices are a little bit more flexible.
What advice would I give to an agent who may be representing a buyer?
If you’re purchasing a foreclosure asset, do you know what the details of the property are?
Commercial real estate changes on a day-to-day basis. So every day, I have the opportunity to succeed. Every day, I have the opportunity to learn something different.
Right now, we are absolutely in a market that is correcting, and it’s sometimes the best time to jump in the market and succeed.
Right now, the market is simply trying to adjust to what the real values are.