There’s certainly money to be made owning and managing commercial properties, but any deal that sounds too good to be true very likely is! Plenty of highly successful real estate investors learned expensive lessons along the way, but most of us can’t afford to make costly mistakes. When you’re ready to build and update your property portfolio, our team at Ferstl Valuation Services is ready to put our experience to work for you!
We’ve proudly offered trusted real estate appraisal services in Arkansas since 1967, and J.T. Ferstl, MAI, is also an Arkansas-licensed attorney who offers litigation support and expert witness testimony in eminent domain cases and property disputes. You can always count on the personal touch when you work with us, and we’ll take the time to learn about your long-term financial goals and determine if your prospective investment meets your specific risk and return requirements. Here are a few important questions to consider before you proceed with any property investment:
Is the property priced fairly? Cash-strapped sellers are always ready to offer a great price to well-qualified buyers, but you should always proceed with caution if the asking price is way below comparable properties in the area. With so much at stake, it’s never a bad idea to schedule your own independent appraisal before making an offer.
How long do you plan to hold the property? Before you decide to attempt “flipping” commercial properties, keep in mind that there’s often a fine line between real estate speculation and gambling. On the other hand, Commercial office space is an ideal long-term investment that helps protect your wealth from inflation!
What’s your financial situation? Ultimately, you should be honest with yourself about what you can afford. You should always familiarize yourself with the local supply and demand for commercial office space because you’ll be responsible for the mortgage payments and building maintenance, no matter how many (or few) tenants you have. Your analysis report will be supported by market research, and you’ll have the information you need to decide whether to proceed with the investment or seek more return-on-investment-positive alternatives.
For more information about real estate appraisal services in Little Rock or to schedule an investment analysis, contact us online or at 501-375-1439
