As a new investor, you probably feel excited about buying your first property and might not have enough time to complete due diligence. However, doing due diligence can save you from costly mistakes. For example, you should find the zoning and the number of units the market can support. You should also be familiar with the cost and procedure of obtaining the necessary permits. If you are unfamiliar with these processes, it is best to consult a professional expert in Commercial Real Estate Daytona Beach.
Class A properties should be on your list if you consider purchasing commercial real estate. While not prime, they are generally in decent shape. Some people refer to these properties as “legacy properties,” which means they are aging or may not have the latest construction or design. They also tend to be in less desirable locations or may need much maintenance work. (more…)