The mile high city has loads of benefits for residents and businesses alike, as a thriving and booming economy has created serious financial returns for those who own homes and increasing the opportunities for skilled professionals. Denver has become a hub for technology-based companies, startups, and many other businesses seeking to make their mark in a city where their impact can truly be felt. Denver is a fantastic option for those seeking to make an investment in commercial real estate, and here are a few of the main reasons why.

Terrific Economic Outlook

In terms of economies in the United States, Denver is certainly near the top of the pack, with an unemployment rate near the lowest of all major cities in the US. For prospective job seekers, Denver offers a wide range of opportunities for individuals with a unique skill-set as well as those seeking less-skilled jobs, such as the service and retail industries. USA Today recently ranked Colorado as having the best economy of any state, showcasing how strong our economic outlook really is in the Centennial State. The With a population made up of many young professionals with expendable and disposable income, making Denver commercial real estate a great option to consider for firms and individuals seeking to create a valuable asset. 

Consistent Growth

According to a study by WalletHub, Denver’s economic growth remains strong and robust, giving investors in the commercial real estate sector a strong reason to consider making an investment in the marketplace. Even though growth has been strong for the past few years, Denver’s pace of growth hasn’t slowed down much and the mile high city still ranks fifth for all large cities in the United States. This study analyzed a number of economic and other types of metrics in order to determine which cities have the best economic growth in 2018.

Some of these factors including things such as the amount of growth in the college-educated population, the overall unemployment rate, and other various factors in order to determine which city is growing economically. Having an economy that is growing, especially with a skilled young professional population, is essential for making commercial real estate a viable option for investors. Retail and business real estate is only as valuable as the market which surrounds it, as the population will ultimately be the determining factor to how successful a particular asset will be. In this regard, Denver remains a sound market for commercial real estate investment. 

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.

Making the decision to invest in Denver commercial real estate is an incredibly appealing prospect for investors seeking to enter a tried-and-true commercial marketplace. Indeed, deciding to make the step of purchasing commercial real estate can be one of the smartest and most wise decisions and individual or group of individuals can make, as this type of investment can pay significant dividends in the long-term. However, there are a few important factors to consider prior to taking the plunge, as there are relevant and critical considerations to take before dipping your toes into this particular marketplace.

Get a Firm Understanding of the Marketplace

If you’re looking to invest in property in the Denver metro area, it’s important to understand that not every area is created equal. There are certain parts of town with a more solid financial and economic outlook which are better bets in terms of investment. But it is also important to be aware if an area has peaked or is far too expensive to expect a return on your investment in the short-term. 

Before starting the process of searching for your dream Denver commercial real estate property, first it’s important to define what your priorities are in regards to this substantial investment. If you’re seeking to receive an immediate source of income above what the cost of your payment is, you’ll want to assess what tenants are willing to pay for comparable property in the same area, as it will be easier to understand if your investment will pay off sooner or if you’ll have to wait several years before you can begin to rely on it as a source of income. Understanding the basic fundamentals of a marketplace are a major priority prior to engaging in this investment. 

Avoid Failing Businesses 

Let’s be clear: not every tenant is created equal, even if a business is willing to pay whatever rent you are trying to charge. There are certain businesses which are more likely to stick around for a longer period of time, such as established businesses moving into your space because it fits with their current financial plan or overall needs. Assuming that you’ll be able to count on a new clothing or electronics retail shop years into the future is simply not the case, as the marketplace will continue to shift towards ecommerce. You may still take on these businesses as tenants, just know that it may not last as long as you would like. 

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.

The mile high city has loads of benefits for residents and businesses alike, as a thriving and booming economy has created serious financial returns for those who own homes and increasing the opportunities for skilled professionals. Denver has become a hub for technology-based companies, startups, and many other businesses seeking to make their mark in a city where their impact can truly be felt. Denver is a fantastic option for those seeking to make an investment in commercial real estate, and here are a few of the main reasons why.

Terrific Economic Outlook

In terms of economies in the United States, Denver is certainly near the top of the pack, with an unemployment rate near the lowest of all major cities in the US. For prospective job seekers, Denver offers a wide range of opportunities for individuals with a unique skill-set as well as those seeking less-skilled jobs, such as the service and retail industries. USA Today recently ranked Colorado as having the best economy of any state, showcasing how strong our economic outlook really is in the Centennial State. The With a population made up of many young professionals with expendable and disposable income, making Denver commercial real estate a great option to consider for firms and individuals seeking to create a valuable asset. 

Consistent Growth

According to a study by WalletHub, Denver’s economic growth remains strong and robust, giving investors in the commercial real estate sector a strong reason to consider making an investment in the marketplace. Even though growth has been strong for the past few years, Denver’s pace of growth hasn’t slowed down much and the mile high city still ranks fifth for all large cities in the United States. This study analyzed a number of economic and other types of metrics in order to determine which cities have the best economic growth in 2018.

Some of these factors including things such as the amount of growth in the college-educated population, the overall unemployment rate, and other various factors in order to determine which city is growing economically. Having an economy that is growing, especially with a skilled young professional population, is essential for making commercial real estate a viable option for investors. Retail and business real estate is only as valuable as the market which surrounds it, as the population will ultimately be the determining factor to how successful a particular asset will be. In this regard, Denver remains a sound market for commercial real estate investment. 

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.

The amount of new commercial real estate developments popping up in Denver is staggering and often hard to keep pace with. The mile high city is certainly in a building and booming stage of economic progress, as Denver continues to quickly transform itself into a modern metropolis worth investing in. But lost in the shuffle of the flashy new developments springing up at a rapid pace, there is another property development opportunity to consider and that’s old and abandoned buildings. Though many developers have begun to recognize the potential of revitalizing older properties, there is still room to take advantage of existing structures. Here are some of the things to consider.

Look for a Building with Good ‘Bones’

Before you jump at the opportunity to buy a historic or abandoned building simply because you think you’ll be able to transform it with ease, consider the things that are most important to the building itself. A building that has a solid foundation requiring little-to-no renovations is a much more desirable property than one that will require extensive work to the foundation. Some buildings will simply be too costly to make it worth the effort of renovating, but the ones that have good ‘bones’ are the ones to look for. 

No matter how beautiful or historic a structure may be, it’s probably not worth the effort if you’ll have to spend and arm and a leg just to get it to where you need it. Once you have the infrastructure in working order, you can begin to start the process of renovating and building over the bones of the building, allowing you to showcase your creative vision for the property. You don’t necessarily have to feel constricted by the original architect’s vision, as you can transform a space into something far outside of what was there before.

A Sustainable Approach to Development

New property developments include starting from scratch. That means bringing in completely new building materials in order to complete the construction process, one that involves shipping materials from all over the globe and increasing the amount of energy consumption necessary to finish the job. Many commercial real estate projects also involve demolishing existing structures in order to build the new one. Instead of starting the project from square one, an older property can allow you save on material costs as well as reducing your environmental impact, a win-win in the construction arena.

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.

Are you thinking about dipping your toes into the Denver commercial real estate game, eager to start receiving the massive potential benefits associated with this smart investment asset? If so, you’re going to need to start considering your options for getting a commercial loan, as you likely won’t have all of the necessary capital up front needed to seal the deal. If you’re serious about considering the the steps you need to take prior to becoming the proud owner of any commercial real estate in Denver, here are some things to be aware of. 

Credit Score

In traditional residential loans, credit score is a big factor in determining what you will qualify for and what kind of interest rate you will be receiving. In the area of commercial loans, credit scores are less important and do not factor into the equation as much as they do in a residential loan. Of course, having a bad credit score will restrict your options and it’s certainly a good idea to find ways to improve your existing score, but this widely-used financial tool is much less important when it comes to commercial loans. 

Liquidity

In terms of a commercial loan, an important factor to bear in mind is the amount of liquid cash you will have on hand after you put a downpayment on your property. It can be tempting to throw every last cent you have into your down payment, but lenders grow weary about this fact as you will have no cash left in the event of an unforeseen event. Something like a serious emergency requiring an insurance claim will make having liquid cash on hand a crucial part to think about. In terms of lenders, they may require you have an additional 6 to 12 months on hand worth of principle and interest payments. 

Net Worth

Believe it or not, one of the first things a lender will look at prior to considering you for a commercial loan will be your net worth. A lender will calculate this by factoring your existing assets and subtracting your current liabilities from them. Very often, lenders like to see a net worth which is either equal or greater than the total amount of the loan. For example, if you are seeking a loan for $1 million, you will need to have that amount in tangible, calculable assets in order to qualify for a commercial real estate loan. 

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.