is investing in commercial retail land in naples, fl a good idea? or any other area suggestion in fl and tx?

In Buying Property - Asked by Andy W. - May 17, 2010
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Answer(s)

Dan M.
Broker/Agent
Peotone, IL

You need a crystal ball to be positively sure that the decline in prices has hit bottom. Some investors and professionals think that it will not hit bottom until the end of this year. There are also many and a growing number of professionals who think that the bottom of the market has already been reached and that now is a good time to buy. I am in the latter group and see that there is a lot of opportunity for buyers. Even if the market drops a little more this year, it should still be a good time to buy for the long term investor. The key right now is that cash is king and with cash and some very good credit, there are some very good deals to be made in Naples and some other parts of Florida. I am a commercial real estate broker and will be happy to answer in specific questions. I may be reached at 708-204-2064, Dan Murray, Broker/Owner, First Metro Realty

May 17, 2010
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Jon F.
Broker/Agent
Naples, FL

It depends on your business model. If you are talking about patient money, this is a great market. I work with a group that is buying portfolios of notes and we sell the vertical ourselves and pass through the vacant property. Most of what is listed is still too high.
Contact me and I can give you some examples.
Jon Foege
Patten Sales and Marketing

May 17, 2010
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Jeffrey B.
Owner/Investor
Malta, NY

Hello, how about a contrarian strategy? Global Foundries is building a 4.1 billion dollar chip fab plant in Malta NY, 3 hrs north of NY City. Zip codes 12020 and 12170.
The market is wide open for the smart investor. Real growth, not a foreclosure economy.

May 17, 2010
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Brad L. K.
Broker/Agent
Columbus, OH

Florida retail was overbuilt more than other markets so there will not be a lot of new retail strip center construction in Florida for a while until the current supply of vacant space has been absorbed. There will continue to be construction of a limited amount of retail on very good sites, such as CVS stores, fast food, Family Dollar stores, etc. If you can get a good deal on a great site, and have patience, you could buy some great sites. However, retail is constantly changing and a great site now, may not be a great site in 5 years, so be careful. If you are interested in a certain market, hire a local commercial real estate agent in that market to advise you to make the right deals. www.SIOR.com is a good source for top level commercial brokers nationally and internationally.
Brad Kitchen
Alterra Real Estate Advisors
www.AlterraRE.com

May 19, 2010
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