Three Reasons Why Commercial Real Estate Investing May Be your Next Move
If you’re looking for a new way to generate income, know that now may be the best time to get involved in a variety of commercial real estate investments. Real estate itself has always been a sound investment simply because the one thing that isn’t still in production is land! With the growth seen in the Upstate of South Carolina over the past few years, now may be as good a time as ever to invest in commercial real estate.
- There are a lot of changes going on in the business world right now. Businesses today are either thriving or sinking rather than just hitting the plateaus that were common years ago. This means that there are prime locations, which are going to be up for sale. There are also businesses looking to expand, so if you invest in commercial real estate you can likely quickly find tenants to fill your location with the help of a commercial real estate broker.
- Commercial real estate can offer fewer risks depending on the situation. The individuals or companies who will lease your facility are actively making money or they wouldn’t be looking for this type of real estate. Unlike residential real estate, your income won’t be dependent on one person’s sick day or other personal issues. If there is a problem, you have a better chance of getting your money from a business than a person.
- Commercial real estate offers unique opportunities compared to the residential market. When you purchase residential real estate in the hopes of renting it out, you have to deal with things like pets, children, carpeting that needs to be replaced among all sorts of other issues. Commercial real estate, even in the form of multi-level apartment complexes is much easier to deal with because you don’t have these kinds of issues with a business. In an apartment setting, there are enough apartments to absorb the cost of maintenance and repair. Businesses also carry their own liability insurance, so any risks concerning what they do on the property are their own, not yours.
If you are looking for ways to further diversify your investment holdings, commercial real estate may be a perfect option to hedge some of the more volatile investments in your portfolio. When you are ready to look at Spartanburg commercial properties or Greenville real estate don’t hesitate to contact Spencer/Hines. With decades of experience in the South Carolina commercial real estate market, the professionals at Spencer/Hines would be honored to serve you in any capacity. Give us a call today at 864-583-1001 or contact us through our contact form on our website.