If you are thinking about purchasing a commercial property for an investment, it is wise for you to involve your accountant or financial advisor to insure that the income/expense ratio makes sense.  The examination should be of the property taxes,  rents, insurance and other maintenance costs, along with the debt service (mortgage).  Allow for any repairs that are in the immediate future.   Another tip:  Close on the  first day through the fifth of the month,so that month’s rent is paid as a credit to you at closing, along with any security deposits and last months.  Sometimes it amounts to a nice chunk of change.  You can apply it towards closing costs and/or down payment.   Another tip:  Always  have an inspection on the property to make sure that the property is functional, not distressed, and has no environmental conditions that may come to haunt you in the future.  For assistance in locating suitable commercial properties or businesses, contact me at 954-292-0682.

 Scott English , Realtor  Balistreri  Realty

This entry was posted on Friday, November 30th, 2007 at 9:43 pm and is filed under Investing in Commercial Properties, Investment Property. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.