A portfolio of commercial properties is one of the best ways to protect your wealth from inflation, and it also offers monthly cash income from tenants. But there’s a lot at stake each time you buy or sell a property, and there are no “sure things” in real estate. The good news is that our team at Ferstl Valuation Services is always a phone call away, and we offer professional consultations to help you determine if the deal you’re considering properly aligns with your investment objectives!
We’ve proudly offered trusted property appraisals in Little Rock since 1967, and J.T. Ferstl, MAI, is an Arkansas-licensed attorney with decades of experience as an expert witness in eminent domain cases and other property disputes. The AI designation stands for advanced knowledge, documented experience, and uncompromising integrity, and we’re ready to put our experience and expertise to work for you. Sometimes the best deals are the ones you walk away from, and A professional real estate consultation enables you to “look before you leap!”
Before making an official offer, it’s crucial to schedule an independent appraisal to determine the property’s fair market value. A lot can change over just a few short years, and you’ll want to ascertain how the property you’re considering measures up against comparable properties in the area. Sometimes sellers list properties below market value, hoping for a quick sale, but you should always proceed with caution any time a property seems underpriced.
If you’re considering buying a property to flip, always budget generously for repairs and upgrades. No matter how experienced you are, renovations are often costlier than you think! And no matter how red-hot the local market is, you can’t always count on finding a well-qualified buyer right away. Most importantly, you’ll need to have sufficient cash reserves to cover maintenance costs, as well as the cost of the expensive repairs that inevitably arise at the most inconvenient possible times. It’s nice to receive a steady cash income from tenants, but you’ll be responsible for making the mortgage payments each month, even when your commercial office space or multi-family dwelling isn’t fully leased.
To learn more about Little Rock real estate consulting services or to schedule an independent property appraisal, contact us online or at 501-375-1439.
