Commercial Real Estate In Castro Valley California

Planning on investing? If so, you have several options. One of these options is to invest in commercial properties. There are several ways you can invest in commercial properties. If you have your own business you can buy more office space than you need, and lease out what you don’t use. Or, even if you don’t have a business of your own, you can purchase an office building (they come in all sizes) and lease out the office space, or build a strip mall or office and lease out the space.

Finding the property:
Finding commercial properties may be easy. Finding the best commercial property may not be so easy. If you have no experience in buying commercial real estate you will want to study and learn as much as you can (since you are reading this you are headed in the right direction). But, reading and learning doesn’t give you the experience of someone who has purchased a lot of commercial property. To be on the safe side, you may want to hire, or at least consult, a real estate agent. They will be able to help you find the most profitable property.

Inspecting the property:
If you are buying commercial property, make sure you have it inspected before you sign any paperwork. It is a good idea to hire someone who is experienced in inspecting commercial properties. It is better to find out what problems exist before you purchase, rather than blaming the company you are leasing the property out to.

Appraising the property:
With any type of commercial property you will want to have it appraised. If you pay too much for the property you will have to charge more rent than those you will be competing with that did not overpay, causing you to lose business leasers.

Writing the contract:
Have a written contract—no matter what! If you don’t feel qualified to write out a contract you can either hire an attorney or there are several sites on the Internet where copies of contracts are available for a minimal fee or for free. If you are writing the contract, there are several items that you should include in the contract. These include, but are not limited to, the following:

How long the lease will be
Whether there is any equipment included with the property (sheds, fork lifts, shelves, etc.)
A detailed description of the land, the building, or both if the lease includes both. This includes any problems with the building and the name of who is required to fix it.
Who will be paying the power, water, gas, taxes, and other bills.
How much the property sold for, and (this is important) the payment agreements. Include with this the amount to be paid and the date the amount is to be paid.
The signatures of both persons involved in the transaction.
Make sure that the amount you are charging for rent is going to make you money. If you are paying for taxes and utilities, include this in the rent price.