Right now is a great time to invest commercial property in Las Vegas, but are you ready to buy? This complicated process, which involves maximizing profits while minimizing investment and balancing rewards with risks, can only be done with careful planning and research. Before you can start canvasing neighborhoods and looking at propertiesi, you must first determine what are your needs. Start by answering the following questions:
Who are your customers and where are they located? In many cases, the key to running a successful commercial venture is to locate your business near your clients. If you plan to lease out your property to local businesses, you’ll need to determine what type of tennants you’re seeking. Conduct market studies and your potential clients. Find out who your clients are and how far they will be willing to travel in order to reach your property. This will help narrow your choices as you look at neighborhoods.
How much can you afford to pay? Sit down with your accountant to go over your financial ledgers, bank statements and tax documents. Talk to your investors and start calling banks to inquire about loans. This way, you’ll be ready to make your move when you find the right property for you.
How large do you need your property to be? If you’re hoping to buy an existing building, you’ll need to know approximately what square footage you’ll require, and what building facilities and amenities you’ll be looking for. If you’re going to pay to build, find out what lot size will accommodate the structure you’ll be building.
Once you’ve answered these questions, you’ll need to find the right real estate agent to represent you. If you’re struggling to answer these questions for yourself, finding the right real estate agent may help you sort out the details and determine what property will best fit your needs. A good real estate agent is more than a broker; a good real estate agent is an adviser who can guide you and your investments.
The agent you choose should be skilled and experienced. You need someone who knows the Las Vegas commercial real estate market, and who understands the ins and outs of starting an ambitious commercial venture.
Sandra Fink has facilitated $800 million in commercial investment sales, and more importantly, has personally developed several commercial projects in the state of Nevada. Her most recent venture, opening the real estate firm Sandra Fink & Associates Inc., simply provides more proof of her skill in the commercial real estate market. When it’s time to search for a real estate agent, it’s time to call Sandra Fink.