Tips for Buyers

Tips for Buyers

Common Buyer Tips

  • MOST IMPORTANT: Use a local Market Expert to be educated and update on the Market. This way YOU will know when “The Deal” presents itself and you don’t have to hope the Agent’s opinion has your best interests in mind. Trust Us, your relative, who has a real estate license is not going to save you money BUT they will cost you Time!
  • Our proprietary database tracks owners and tenants in real time which will often present “Off-Market” opportunities that often go unpublished.
  • Keep updated on the Latest Government Regulations, which can be a costly mistake if your agent is not passionate about their job.

Advantages of Owning a Building

  • You are your own landlord. You are paying yourself!
  • Fixed occupancy costs.
  • Long Term Wealth; revenue stream during the “Golden Years”.
  • Tax benefits of ownership; mortgage interest deduction, depreciation.
  • Total Control of future of the asset.

Disadvantages of Owning a Building

  • Upfront Costs; Down payments, Due Diligence Expense, Building Preparation for your specific use.
  • Subject to changes in equity as a result of the current market cycle.

Common Buyer Mistakes

  • Using a friend or relative that is not a local Market Expert.
  • Buyer representing themselves thinking they will save money.
  • Buyer not hiring the right building inspector.
  • Buyer trying to “Time” the market cycles. Remember, Real Estate is most often a long term play!
  • Not leaving enough time to search for a property.

I know two kinds of occupants: “Owners” who are glad they bought the building and “Tenants” who wish they bought the building!

Call or email Joel or Phil for a Complete Buying Due Diligence Checklist

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