Saturday, January 30, 2016
There are several goals that different investors may have in mind when shopping for commercial real estate in Anchorage. For example, some may want to flip the property with a quick renovation and a sale. Others may want to hold onto a property for long-term income generation. If you are looking for an income-producing property, there are a few important steps that you can take to make a better buying decision. Review Operating Statements Closely When buying commercial real estate, it is ideal to ask for at least the last few years of income and expense statements, or operating statements of the property. This will include figures for property taxes, insurance, maintenance utilities and more. It also will include the income generation numbers.
Friday, January 29, 2016
When you are in the process of purchasing a piece of real estate in Anchorage, AK, one of your top considerations will likely be the functionality of the building or buildings situated on the land that you are buying. While each city and neighborhood has its own zoning requirements, you may be interested in retaining an experienced property management company to help you develop and lease the building for another purpose. Keep these out of the box commercial real estate development ideas in mind as you go through with your property purchase. Redevelopment One of the most common projects that take place after the purchase of a commercial real estate property is redevelopment. An old, dilapidated factory or warehouse in Anchorage offers ample space and may be in an ideal location for redevelopment in another way.
When you are looking to invest in commercial real estate in Anchorage, Alaska or anywhere else, there are many important considerations to keep in mind throughout your search. In addition to working with an experienced commercial and investment property specialist, you will also need to consider your own requirements for the property as a part of your purchase plans. Buy If the Price Is Right Before you get your heart set on a particular plot of land as an investment property, set a budget for yourself. Going over your predetermined budget could make it more difficult for you to exit the property when you need to do so. You may also find that going over budget incurs additional costs over your period of ownership, such as increased property taxes, particularly in Anchorage, AK. Knowing your budget and sticking to it helps to ensure that you will be satisfied with your purchase.
Thursday, January 28, 2016
Owning real estate can provide a variety of revenue streams for an individual. Whether you are 35 or 75, your duplex, apartment complex or commercial building will create a steady revenue stream that can help you achieve financial security today and in the long-term. Managing a property in Anchorage, however, can be a complex endeavor. How can a property management company help you? Don't Worry About Administrative Tasks A property management company can screen tenants before they move in and collect rent after they move in. When a lease expires, it can either be renewed or terminated without the need for you to take any action. Having a third-party looking after your property can help keep vacancies to a minimum while ensuring that tenants pay rent and adhere to the terms of their leases.
Real estate is one of the smartest types of investments on the markets nowadays, and for numerous reasons. It's primarily because people are always going to need a place to live in or operate their businesses, but not everybody has the startup capital or funds to purchase their own home or business building outright. Owning commercial real estate in Anchorage could provide you with numerous benefits, especially when you choose to engage in multifamily investments. Cash Flow The cash flow of multifamily investments tends to be much higher than that for a single family in Anchorage, AK. This makes sense because the more families you have paying rent for your properties, the more money you'll be making in the long run.
If you have rental properties in Anchorage that you’re trying to keep track of, then you know just how much work is involved. With any given property, you need to keep your renter happy while also collecting the payments in a timely manner. There’s maintenance to schedule, and some tenants will have more concerns than others. When all of your time is consumed by your responsibilities as a landlord, you won’t have the time to find more properties and expand. You can, however, rely on property management services to get things back on track. Fewer Vacancies One of the biggest challenges of any rental business is keeping the properties full. With a management team on the job, you can be confident that your homes won’t sit empty for long. An experienced company is always advertising and developing contacts in order to minimize waits and improve occupancy numbers.