Real Estate Market Trends in the Hale/Mayfair Denver Neighborhood

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What to Know About Buying a Fixer-Upper Denver Commercial Real Estate Property


September 11, 2019

If you’re in the market for commercial real estate in Denver, you will likely want to find the best property for your money, something which is both affordable and has the highest upside to gain in value. This can make the prospect of purchasing a property which has repair needs an attractive idea, as you may be able to conduct the necessary repairs to make the property gain a serious amount of value in a short amount of time. But these types of properties can also come with a variety of pitfalls and downsides which every buyer should make them self aware of. Before you take the plunge into the great unknown, here is what you should know about purchasing a fixer-upper property in the Denver commercial real estate market.

Decide How Much You Want to Spend on Repairs

Fixer-upper commercial real estate properties offer potential buyers with a serious amount of savings upfront, as they may come at a significant discount compared to other similar properties. Obviously, the savings you receive as a result of the property needing repairs will need to be weighed against the amount of money you will have to spend in order to get your property up to the standard you would like. 

When taking on a property which requires a large amount of repair work, it is definitely wise to determine how much you are willing to spend on the property. Not every property is created equally when it comes to savings vs. repair costs, as some fixer-uppers may actually end up costing more money in the long-run. It’s best to determine your total cost for such a project, and then have a thorough inspection conducted in order to assess what type of costs you will actually be facing during the renovation process.

Avoid Properties With Excessive Amounts of Repairs

Unless you are an expert in conducting all types of renovations yourself, a property which requires a near-total overhaul will likely be more trouble than it is worth. This is especially true if the property you are looking at requires fixes to things such as the foundation, sewer, or other costly elements of the property. If the building requires multiple types of repairs from different types of contractors, the savings may not actually be worth the hassle required in hiring all of the companies needed to get the job done. Never take on something you aren’t willing or able to finish.

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.
 
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Why Fall Can Still be a Great Time to Purchase Denver Commercial Real Estate


September 4, 2019

When it comes to commercial real estate in Denver, the summer months tend to be the hottest and most competitive time to purchase new property, as many individuals and firms utilize the warmer weather to search for their next big purchase. This can make things especially competitive and difficult for smaller buyers to weigh their toes into the water of commercial real estate, as it can be easy to become discouraged as a result of many deals falling through. This can make the arrival of the fall months a welcome sight, as deals may become easier to finalize and properties can become a tad bit less competitive. Here are some of the reasons to consider fall a time for opportunity in the Denver commercial real estate market.

More Opportunity to Find Your Ideal Piece of Property

If you are seeking to find your piece of Denver commercial real estate market, the fall months can provide an easier time for locating and finalizing a deal. Although fall months are not necessarily the slowest time of the year for the commercial real estate market, it is a little bit less competitive than during the peak times of the summer. Fall can provide the added space to feel less pressured to make a split-second decision, a welcome reality for individuals who want to consider their options and not feel like they have to rush into making a decision. 

Weather is More Forgiving For a Move-In

Let’s face it: The Denver summer has been a brutally hot one. Temperatures have stayed in the mid-90’s for weeks on end, making the process of doing anything outside an intimidating one, something you wouldn’t want to have to take on if you didn’t have to. Many people view summer time as a more ideal time to purchase property for the reason that they get to avoid the inclement, nastier weather which can often come during the winter months. However, summer can be a brutal time to move in for people, as the heat can make moving plenty of furniture and belongings into a commercial space an absolute nightmare.

Fall can offer business owners who are looking to find a new space for their establishment a break from the hotter weather during the summer months. Ideally, you will want to find a spot before the winter really hits, as snowstorms can also present a serious challenge for firms looking to make a significant move.

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.
 
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Reasons to Be Skeptical of a Potential Denver Commercial Real Estate Property


August 28, 2019

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.
 
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Keys to Selling a Denver Real Estate Property From Your Trusted Denver Broker


August 7, 2019

If you currently own a piece of Denver commercial real estate property and you’re thinking about selling, there are a few important factors you should be aware of before you put the building on the market. Certain key components can make a world of difference between getting an offer that is underwhelming versus getting a ton of offers above your asking price. To be sure, there are methods and strategies you can employ to ensure your building or property gets the highest possible selling price. With that in mind, here are some of the important keys to selling your Denver commercial real estate property.

Know How to Market Your Property Directly to Potential Buyers

When it comes to making a sale in the world of Denver commercial real estate, it’s important to consider the things necessary to get the job done. In terms of maximizing your sale price, one of the most important factors is to get the property in front of the people most likely to purchase it. First, you should consult with your trusted Denver real estate firm to guide you towards the market that is most likely to consider purchasing your property. Targeted marketing, specifically utilizing online tools to do so, is the best strategy to making sure your property reaching the buyers you want.

Have a Story to Tell About Your Property

Selling a commercial real estate property isn’t always about just putting your property up for sale and waiting for the offers to roll in. Often, you need to craft a compelling story about your property, one that will sell the idea of your asset to potential buyers. It’s not just about showing them the features of the building, often you need to convince them that this particular building or land is unique and stands out from other similar properties. Anything which can set your property apart from the competition will help convince buyers that they’ve found their desired place.

Know How to Communicate With the Buyer

Are you overly eager to have your listing sold as soon as possible? If so, it’s best not to let your potential buyers know this, as they will have additional leverage and the ability to low-ball you in the process. Never reveal more than you need to, as people will use anything they can to get the upper-hand during negotiations. Lead the conversation and make sure you are doing what you need to convince the buyer that the property is a must-buy.

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.
 
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How to Find a Diamond in the Rough When It Comes to Denver Commercial Real Estate


July 31, 2019

It’s no secret that the Denver commercial real estate market is competitive. Many properties are gone almost as soon as they’re listed, showing how hot the market continues to be. Clearly, it’s not just a matter of being able to wait it out for the perfect property, as it is still a seller’s market. But it is also wise not to simply jump at the opportunity to buy the first thing that comes across your plate, as you may end up with a property that is not worth its value. The best possible scenario is to locate a diamond in the rough, one that has been overlooked for a variety of reasons, but may still possess some serious upside. With that in mind, here is how to find a diamond in the rough in the Denver commercial real estate market.

Look for Properties in Less Competitive Areas

If you’re trying to find a diamond in the rough in the Denver commercial real estate market, it’s probably a bad idea to look at RINO, Capitol Hill, or the Highlands, as these areas remain incredibly attractive to investors. No matter how the national economy may be slowing down, certain parts of the Denver real estate market remain an extremely valuable commodity, one which plenty of investors still see the value in.

But if you’re looking for the property with the highest amount of upside and the potential to turn your investment into a serious cash cow, it’s a good idea to look in parts of the Denver metro area which most other people aren’t. Southwest Denver offers plenty of affordable properties but can come with other downsides, including having to renovate them and being located in higher crime and less desirable areas. However, the potential to reap the rewards of this type of investment is much greater and also less of a liability as opposed to many commercial real estate properties in other areas of the city. 

Consider Your Skills

Perhaps one of the best ways to maximize your commercial real estate investment is to have the skills or network necessary to flip a building and renovate it on the cheap. If you have to undergo serious renovations to your building but have to pay someone else to do it, you can kiss a large part of your investment goodbye. If it’s possible to do it yourself, you’ll thank yourself later. 

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.
 
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