Distressed Commercial Property: Investing Guidelines
Just like in residential foreclosures, commercial properties may be foreclosed for the same reasons – non-payment of mortgages or property taxes. And just like in home foreclosure, a distressed commercial property also represents great investment opportunities for the same reason that they are sold at unbelievably low prices.
How to Start Your Commercial Foreclosure Investing:
You can ask around for any distressed commercial property for sale, scan newspaper pages for some sale announcements or you can do the easy way by subscribing to a foreclosure listing service.
Finding a foreclosed commercial property on listing is very easy. Properties are usually listed by city or states, thus you can narrow your search on the area where you want to buy a property. Their prices and other features are also made available to allow you to compare the best deals.
Foreclosed commercial properties are popular among investors for the simple reason that they are very cheap. Some may carry price tags with as much as 50 percent discounts. You may choose among the thousands of foreclosed bank and government commercial properties; or you can deal directly with owner of the distressed commercial property. Whatever type of foreclosed commercial property you choose to buy, you can be sure that it comes with discounts that could save you a lot of money which you can use for renovations or repairs the property may need.
How to Benefit from a Foreclosed Commercial Property:
If you are a businessman, you can get more savings by buying a commercial property that you can use as an office, warehouse, or whatever it is that will serve best your business. You can also buy a commercial building, use some spaces for your own business and lease the remaining areas to other businesses, or you can repair or renovate the whole property and lease it.
Another option is to repair, renovate or build some additions to the property and sell it for huge profits. If you do some research first and practice due diligence, you can never do wrong with investing in a distressed commercial property. The benefits of this venture far outweigh the risks.
Joseph B. Smith has been educating buyers on the finer points of distressed commercial property at DistressedPropertiesSale.com for over ten years. Contact Joseph B. Smith through DistressedPropertiesSale.com if you need help finding information about distressed commercial property.