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Why Mixed-Use Real Estate is a Great Option for Denver Commercial Real Estate


December 5, 2018

Getting into the competitive world of commercial real estate requires an adequate understanding of market fundamentals as well as having insight into what will deliver the largest return on investment. It’s not just a matter of putting up a commercial development and waiting for the tenants to begin lining up; one needs to formulate an effective option that will be attractive to both tenants and consumers, turning the area into a hub that drives economic activity. A terrific way to achieve this is through mixed-use developments, a great option for Denver commercial real estate projects.

What is Mixed-Use Development


In terms of commercial real estate, mixed-use developments are those that blend commercial, residential, cultural, or institutional uses within the same project. Typically, these developments may include condos above a shopping center, or apartments with a connected set of restaurants and co-working spaces within the same complex. Often, these developments will involve large tracts of land, possibly encompassing entire city blocks or stretching across entire neighborhoods. They may be within a single building or be made up of many structures spread across the same development.

Benefits of Mixed-Use Development


Creating a successful mixed-use development requires a proper amount of research and capital in order to achieve the desired results, as these projects can be ambitious in scope. However, the payoffs of achieving success with a mixed-use development can be substantial. A well-done mixed-use development can significantly improve the real estate market of an entire area, as a once sparsely populated area can become a mini-metropolis of sorts, attracting young professionals and spurring ongoing economic activity. Mixed-use development is seen as a fantastic tool for combating urban decay, reviving areas which had little-to-no market velocity.

Access to fresh food can be increased and energy costs and environment impacts can also be greatly reduced by having compact development that addresses major needs within a single area. These types of developments have the potential of creating a stronger sense of community and engagement among residents, as they will be much more connected with their surrounding environment. For a world driven in large part by automobiles, this is one way of reducing our dependence on cars and fossil fuels.

In addition to the massive potential for economic benefits for investors of such projects, tenants of mixed-use developments also enjoy the advantages of these benefits. The convenience factor for residents living within these types of developments is a hugely positive, providing a walkable neighborhood within densely-populated urban areas. 

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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Signs a Neighborhood May be Prime for Turnaround for Denver Commercial Real Estate


November 28, 2018

Seeking out the next big neighborhood to invest in can be a difficult search, fraught with missed opportunities and unwise decisions. Indeed, one of the best investment decisions one can make is to buy property in an area that is about to become hot. Development tends to happen quickly, as one successful business and retail space can lead to the next popping up within a short period of time. Before you know it, a neighborhood that was once relatively sleepy can be the talk of the town, making you wish you had the foresight necessary to make the smart money decision. With that in mind, here are a few of the signs that an area may be prime for a turnaround in the Denver commercial real estate market.

Mass Transit is More Available


It’s no secret that a lightrail can do wonders for a neighborhood, as a station can become a hub where many different kinds of businesses spring up around this area. A lightrail or other forms of accessible mass transit can transform an area exceptionally fast, as it will allow plenty of people to vist areas that were once much more challenging to access. Studying future light rail and other mass transit projects is a great way to discover the next hot neighborhood in your area.

Creative Enterprises are Sprouting Up


Is there a new inventive and unique brewery that has opened its doors in your area? Perhaps there is a new art gallery bringing in loads of talented artists, creating a buzz in the neighborhood that simply didn’t exist before. Or maybe there’s a new night club or bar that is attracting the young professional crowd, becoming a focal point of a street. Theses are all prime indications that your neighborhood is becoming an attractive option for commercial real estate investment, as creative industry often drives the attractive qualities of an area.

Rental Prices are Going Up and Supply is Scarce


If you’ve been in an area for a while and notice that rents nearby have started to increase significantly, this is a sign that your area is starting to become a more attractive option for investment. Another factor in this regard is if rental units are scarce, making the area a sellers market and allowing a significant return on investment for individuals and companies who have invested in the area.

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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Tips for Selling Your Denver Commercial Real Estate Property in the Winter


November 21, 2018

For real estate, the winter months often brings a lull in terms of selling a property. The holiday season tends to occupy many individuals’ time and energy, and attempting to buy or sell a piece of Denver commercial real estate can be a difficult process during this period. In addition, colder weather can make people want to wait for things to warm up before they take on the task of seeking new property to purchase. But the winter months don’t have to mean a total slowdown of all buying and selling in the field of real estate. Here are some tips for selling your properties during the winter months.

Keep Your Property Well-Maintained


This goes without saying in the world of real estate, as you don’t want to give buyers the impression that the property they may be purchasing is in a decrepit state. But when it comes to selling your property in the winter time, this will be especially important for the exterior of a property. Making sure that all paths are regularly shoveled and plowed is crucial for the selling process. If a person is unable to easily enter your property to view it, it will definitely reduce the possibility of selling it.

Provide an Additional Reason for Viewing the Property


In colder months, sometimes it can take an extra push to get people out of their warm and comfy abode. If you are hosting an open house or are simply showing off a property to one group of prospective buyers, incentivize them by serving warm and festive foods, such as hot cocoa, cider, and warming foods such as soups or stews on a particularly cold day. Turn the process of viewing your property into a fun and inviting experience, one that gets people to venture out in less-than-ideal weather.

Use Light Whenever Possible


During the winter months, properties can often look much darker and colder than during the spring or summer. One way of combating this effect is to utilize natural light whenever possible. Open up the blinds for prospective buyers as a way to bring as much light into the room as you can. If there isn’t a lot of natural light available, use spotlights or other lights which will make a room appear lighter and more inviting. If you can give the appearance of a warmer, lighter interior space it can do wonders for the selling process. 

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 Crime Can Affect Your Denver Commercial Real Estate Property Value


November 14, 2018

Investing in commercial real estate property in the Denver area can be an incredibly smart and lucrative decision. Earning consistent revenue through your tenants rent allows you to earn a steady cash flow of passive income, especially if you are able to delegate maintenance tasks to a trusted third party entity. But it’s not always a surefire guarantee that you will be able to make a hefty profit from your property, as various factors can play a role in taking money out of your pocket. One such factor to be aware of is how crime can play a significant role in how much your commercial real estate property is worth.

Crime: A Threat to Stable Price Increases and Potential Revenue 


It shouldn’t come as a huge surprise that crime is detrimental to property values in a neighborhood, specifically when it comes to violent crime. According to a study in the Journal of Crime and Justice, crime presents a threat to not only the stability of neighborhoods, but also the ability of property owners to sell their property in a swift manner. High crime areas tend to have higher vacancy rates in regards to both commercial and residential properties, as it will make an area much less attractive to potential buyers. 

High Risk, High Reward


Crime is certainly an unfortunate occurrence in any neighborhood, as it can lead to individuals feeling unsafe, both in regards to their living situation as well as venturing out to engage in commerce in the area. However, high crime areas do present a possible opportunity for ambitious investors seeking to revive, rebuild, and profit from urban blight. Of course, there are many factors to consider when engaging in such a plan, as it won’t necessarily be easy or a straightforward process. 

Taking the risk to invest in commercial real estate in higher crime areas can pay off handsomely if the area ends up turning around. One needs to look no further than the highlands neighborhood in Denver to witness how dramatic price increases can be in the span of several decades. Homes and businesses purchased in the mid-90’s have seen several thousand percent increases in value in some instances, showcasing the potential for serious gains in regards to investing in these areas. It is important to consider that simply investing in an area will not lead to massive price increases, as there are many factors that play into why an area is struggling with higher crime rates. 

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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6 Tips For Purchasing A Foreclosed Home


November 7, 2018

1) Understand the different types of properties

Pre-foreclosure or short sale properties are still under control of the homeowner, therefore both the homeowner and the lender must approve any offers that come through. Short sale properties are usually in better condition because the homeowner has taken action to prevent foreclosure. 
Auction properties are typically awarded to the highest bidder and are cash only sales. The lender can't make a profit at an auction sale, so the best deals go to the investors and bidders. 
Real estate owned (REO) properties are in full possession of a lender because no one bid a high enough amount at the initial auction. At this point, lenders are typically eager to get the property off of their hands, but keep in mind that the properties will be in worse condition by the time they get to this stage.

2) Get preapproved for a mortgage.

Unless you plan to pay cash or bidding on auction properties, you’ll need a recent preapproval letter from a lender. A pre-approval letter will detail how much money you can borrow, it is based off your credit score and previous financial history.

3) Know Your Numbers

Know your numbers before you buy. It's expensive to keep rental or fix and flip properties without tenants. Does this neighborhood have a quick turn around on homes? Is this house in need of lots of repairs before it can move to market? Elevation Realty, can help you get your numbers straight and find the perfect fit for your family.

4) Never skip the inspection.

Foreclosed homes may sit on the market for a long time, leading to a lot of problems that have gone unrepaired. In many cases these homes may have been previously owned by disgruntled owners that damaged the interior in some way. Never purchase any property without first going through a through home inspection. You never know what might be hidden in the walls or the floorboards. Hire a qualified inspector to know for sure.

5) Remember, the home is sold as-is.

You may get overly excited to see a low price on a foreclosed home, but keep in mind that purchasing the property is not the only expense that comes with owning a home. Many forclosed homes will need repairs, so before making an offer be sure to know how much of your budget you are willing to spend on repairs. 

6) Get a helping hand.

Foreclosed properties are heavily regulated, and each state has its own set of laws. When you’re ready to look into buying a foreclosed home, be sure to find a real estate who has experience in dealing with foreclosures. Although every real estate transaction can be complex, there is an added layer of complications and legal regulations that come along with foreclosed properties, so you need to have an experienced professional, like Elevation* Group, by your side.
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