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| 1. Commercial Real Estate
Property |
Say you need to find someone
qualified to conduct a commercial real estate appraisal? Try
contacting your state's commercial board of realtors for a referral on
this or other commercial real estate-related matters. Most states have
a commercial board of realtors. Another good resource is your bank's
commercial real estate lending department. While the bank staff most
likely will not make a specific recommendation as to which appraiser
to use, most are happy to provide a list of commercial real estate
appraisers in your area. Finally, your commercial real estate broker
should be tapped into the network of commercial real estate service
providers and should be able to make a recommendation.
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| 2. Commercial Real Estate
Listings |
More and more people are
entering or considering entering the commercial real estate market.
Most real estate agencies have commercial real estate specialists who
can help you find investment opportunities in your area of interest.
If you have never been involved in any commercial real estate deals
but think you might like to begin investing in this area, you should
do some reading on the topic first. There are a variety of books
available that will introduce you to topics such as commercial real
estate appraisal and commercial real estate loans, including How to
Succeed in Commercial Real Estate by John Bowerman and Pure
Profits: Pinpoint Winning Properties, Think Like an Investor, &
Succeed in Commercial Real Estate by Al Auger.
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| 3. Commercial vs. Property |
Commercial real estate and
residential real estate are two different things. Residential real
estate is generally real estate property that the owner buys and uses
as a primary or secondary (vacation) residence. Commercial real
estate, on the other hand, is real estate property that is primarily
intended to generate income for its owner. Examples of such property
are multi-family dwellings, retail space, warehouses, office
buildings, and hotels or motels. A commercial real estate investor
owns the property and derives income by leasing the space to tenant,
be those tenants families renting apartments or multi-national
corporations leasing office space. Like its residential counterpart,
the commercial real estate market encompasses a full range of service
providers, including commercial real estate appraisers and lenders who
specialize in commercial real estate loans.
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| 4. Commercial Real Estate
Broker |
If you are in the market for
commercial real estate, you may want to check out the United States
Marshals Service Asset Forfeiture Program. The Marshals Service runs
the Department of Justice's Asset Forfeiture Program by managing and
disposing of properties seized and forfeited by federal law
enforcement agencies and U.S. attorneys nationwide. Among other
things, at any given time you can find listings for commercial
property up for auction (many of them run online) throughout the
United States. For more information on these auctions, visit the
United States Department of Justice's Web site and search on "asset
forfeiture program." If you do decide to pursue purchasing one of
these properties, you will need to get your own commercial real estate
appraisal conducted.
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