I am interested in a small shopping center? What should I be aware of?Any advice? Thanks a lot.

In Buying Property - Asked by ling C. - Dec 3, 2008
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Answer(s)

Lisa D.
Broker/Agent
Kingwood, TX

Ling,
You want to be aware of a few things. First, you want to make sure the tenants are happy, long term tenants. You also want to make sure there are multiple tenants as opposed to just one. The more tenants you have, the less risk you have (in most cases). You also want to make sure that there are no deferred maintenance issues and there are no outstanding leins against the property that would prevent total free and clear title. I hope this helps . Chris Sears

Dec 3, 2008
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Gary M.
Broker/Agent
Bellingham, WA

A good hi traffic count, lenght of leases,do they have built in increases, are they single, double ,tripple net. Age of buildings, are tennants keeping up on lease payments and does it appear they will able to continue. What does the future look like for the area. Does the city have any plans for the area you may not be aware of. How long will the sellor stay around to show you the ropes. Get a good accountant, realtor, and maybe an attorney before you buy. Do all your home work and get everything in writing

Dec 3, 2008
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Joel O.
Broker/Agent
Canton, GA

Ling,
First I would see what amount you qualify for. With the current frozen credit markets many lenders are wanting substantial down payments of 20 to 30 percent or more of the purchase price. If you have cash it changes the game a bit.You can buy underperforming properties and change them around increasing your cash flow and profit when you sell. Many opportunities are created from mismanaged and mishandled properties. Brand new centers that are A class and have major anchored tenants will command a premium price as you will be competing with REIT and Insurance Pension funds who will accept lower cap rate prices than the average investor. You could always buy the land and build your own.If you need help in Georgia I have worked on projects upward of 750,000 sq ft mixed use and 150 million after build value.

Dec 3, 2008
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Robert L.
Owner/Investor
Antioch, CA

Hi my name is Robert Lewis,
I am new in the business, I need someone to show me how to get into the game. I have no credit or money. But I have a big heart and a great vision. Can you help or direct me to someone that can. Thanks!

Dec 3, 2008
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Robert L.
Owner/Investor
Antioch, CA

Robert Lewis # (925) 752-8834

Dec 3, 2008
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Tai L.
Broker/Agent
San Diego, CA

Anchor tenant(s), gross income and what type of lease it is, access, visibility (freeway etc.),

May 23, 2009
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