Wednesday, May 11, 2011
Opportunities for Investing In Commercial Real Estate.
By A. Hamid Adeniyi Otule
Dear esteemed readers, I like to use this opportunity to express my profound gratitude to those who have supported me and also gave words of encouragements. I like to commend and appreciate them for their invaluable support. Let me also not forget my tradition which is to remind our readers that I am committed to ensuring that I contribute positively to the development of our society at large.
When it comes to starting up your own business, there are a lot of things to consider. The more serious and confident you are about your endeavors, the more money you are perhaps likely to invest in it and make in returns.
Moreover, whether you've been a hard saver, received a loan or lucky enough to be supported by friends and families, you'll want to make sure that the business venture you launch is properly thought out, as the last thing you'll want is for your business to crumble.
Without wasting your time, Commercial property investment is becoming a hugely popular option for business entrepreneurs in today's world. In many countries, residential property investment doesn't offer the return on investment that most people anticipate. For this reason, commercial building investment has grown in demand.
If you care to search carefully in many of the larger cities, you discover that there are untold industries to choose from, giving you plenty of options as far as launching your new business venture is concerned. Industrial property investment is supposedly the cheapest of all commercial property investment options available and also the simplest to understand. This is vital, especially if this is your first business venture. With this type of property investment, there are often very few hitches that arise.
A majority of industrial buildings are just simple boxes with certain sized area partitioned off and used as office space. More often than not these are very cheap to build and require very little or no maintenance. Well it's this type of commercial property that is becoming more and more popular every year.
Typically, an industrial property would include those used for light or heavy manufacturing units, a warehouse for storage purposes, factory/office-type multi-use property, industrial parks and retail warehouse units. Industrial property units tend to range from 1000 - 50000 square feet in size.
In addition, most industrial properties don not rely on the quality of location, as opposed to commercial property like retail and hospitality, where a business is rather dependent on their location being easily accessible and noticed.
Lastly, Commercial property investment range greatly in cost throughout the world. Many of the smaller type properties tend to have shorter term tenancy contracts. For those who consider investing in commercial property, it's highly advised and recommended that you carefully decide how big or small your property needs to be. Bear in mind, it's a lot easier to handle a smaller commercial property than a medium to large sized one.
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I wish you best of luck.