So you’ve decided to take the bold step of investing in the Denver commercial real estate
space and you’ve started your search for the best possible property. In the early stages, you probably combed over listing after listing, scouting out the best situation for your particular needs and means. Over the course of your search, you’ve probably stumbled onto what you believe to be a gem, meaning they’re a much better deal than what you’ve been looking at. But in the muck of these potential gems lurks something to be concerned about: the dreaded dud. In order to avoid that worst-case-scenario, here are some of the things which should make you skeptical.
The Seller Doesn’t Want to Show You Certain Part of the Property
It’s not a secret: the Denver commercial real estate market is especially hot, as investors look for ways to turn their existing assets into a money-making asset with the possibility of gaining serious equity over time. Overly eager investors often overextend themselves in the course of searching for a property, and may purchase something which ends up becoming much more of a liability than a true asset.
Of course, you will want to avoid this situation playing out at all costs, which is why it’s important to receive a full tour of any potential property before making the decision to purchase. It’s not just a matter of trusting the word of the seller, as they could very well be hiding parts of the property which can seriously detract from the value of the building. If your potential seller is not letting you see the entire property, you should definitely begin the search of looking elsewhere.
The Property Doesn’t Match Up With Other Comparable Listings
The old adage of “if it is too good to be true, it probably is” is definitely true when it comes to investing in Denver commercial real estate. Looking at a property that, at first glance, appears to be something of a diamond in the rough, you should be cautious not to get too ahead of yourself when deciding if the property is right for you. If the property is significantly less than other comparable properties in the area, you need to find out why. Sure, it could be a situation where the seller is desperate to get rid of the property, but it is also entirely possible that they could be hiding a particular aspect of the property which makes it much less attractive than at first glance.
If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.