DO YOUR CLIENTS HAVE THE DESIRE, ABILITY, AND MOTIVATION TO INVEST?
Save yourself time and energy by qualifying all of your clients.
Not everyone is ready to make an investment in commercial real estate right away. Sometimes a person will have the means to invest, but they may not be at a point in their life where it’s in their best interest to invest. Or they may just not have the motivation to invest in commercial real estate if there are other more lucrative alternative investments available such as the stock market or business opportunities. If an investor is going to close the deal with you, it’s going to be because they have the desire to invest, the ability to invest, and the motivation to follow through on those wants and needs.
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As we approach the end of the year, everyone wants to see what the outlook will be for 2014. In terms of properties that are available for sale, retail is the highest in the general Los Angeles area, closely followed by multifamily properties.
In terms of purchases, substantially more investors seem to be buying multifamily than any other property type. Retail is next in line to multifamily, but only by half as much.
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The most promising thing about Culver City is that vacancy rates are currently going down across all commercial asset classes. Economic activity is high due to the changes the city has made to bring in new tenants and revitalize the downtown Culver City sub market.
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Finding quality tenants for Commercial Real Estate is a bit different than Residential. You can have a very responsible individual with high net worth sign the lease, but still have problems in the future. Why is this the case? Well realistically their net worth is meaningless unless they own enormous amounts of capital and by that time they might as well purchase a property of their own. Instead of looking at their current value, you must be able to monitor their income and also project for the future where that income will be. Property owners need to think outside of the box with this.
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