Homes For Sale in the Observatory Park Denver Neighborhood

So you’re in the market for commercial real estate in Denver and you’re looking to find ways to close the deal. Closing a deal can be a harrowing and stressful process, as you may be dealing with plenty of competition looking to snatch your perfect and preferred property away from you. Clearly, the last thing you would want to have to deal with is having to lose the property you are seeking due to some issue which could have been prevented. These things tend to happen, especially in competitive commercial real estate markets such as Denver’s. In order to avoid this unfortunate situation from playing out, here are a few helpful tips to know to make the next commercial real estate process a breeze.

Be Honest. Don’t Misrepresent Yourself

If you’re looking to purchase your dream Denver commercial real estate property, one of the most important things to keep in mind throughout the process is to be honest. Certainly, you don’t want to tell the seller more than they need to know, but you also don’t want to misrepresent yourself and what you are able to do. If you tell someone you can definitely afford their asking price, but you end up not being able to get a loan for that price, you will likely lose out on being able to seal the deal with this particular seller. Always be honest with them whenever it is in your best interest to do so. Simply Put, don’t get caught in a lie.

Be Prompt in Communication

Throughout the course of a commercial real estate deal, one of the most important factors to keep in mind is to maintain proper communication throughout the process. This means responding in a timely manner to texts and emails, as a delay in communication can actually mean the difference between you sealing the deal and losing out on your potential prized property. If you aren’t able to respond immediately to a request for something, the least you can do is to let them know that you will be able to respond soon. You don’t necessarily have to bow to a seller’s every whim and demand, but prompt and efficient communication can make a serious difference in terms of whether or not you seal the deal. 

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 understand that the process of purchasing commercial real estate can be a daunting prospect, and we want to make it as easy and stress-free as possible. 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.
 

So you’ve decided to make the intelligent, wise decision to begin the process of investing in Denver commercial real estate. Allow us to be the first to congratulate you on taking the initiative to invest in a highly lucrative, rewarding market which can provide continuous financial benefit for you long into the future. But you should also know that the commercial real estate market is full of bad deals, issues which can create a never ending stream of misfortune for you and your business partners. Whenever a person makes the decision to become involved in a part of the economy they are unfamiliar with, it’s best to understand what the first step should in terms of furthering this process along. 

Know Your Budget and then Get Approved for It

Without a doubt, perhaps the most important step you can take before you begin the process of finding your dream Denver commercial real estate property is to understand what your realistic budget is. Everyone has a vision of what they want to invest in, and dreams of finding the perfect commercial space can bring about visions of properties which may or may not be within your financial grasp. Although it is certainly good to dream big and to have large ambitions about what you want to do with the investing world, it’s also wise and prudent to take realistic steps toward finding your dream property.

Before you set out on the journey of finding your perfect property, you should first sit down and determine what you realistic budget is for a property. It’s important to understand that a person should not put every last cent they have into the downpayment of a property, as there will be plenty of other costs associated with bringing the commercial space up to the level you desire. 

A financial institution will want to see that you have excess capital after you put down the down payment, as the understand the amount of finances required to get something like a commercial operation off the ground. Once you’ve determined what your budget is, begin the process of becoming approved for a commercial loan so you can realize and implement your plans of owning a piece of Denver hot and attractive commercial real estate market.

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 understand that the process of purchasing commercial real estate can be a daunting prospect, and we want to make it as easy and stress-free as possible. 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.
 

It’s obviously not just a matter of finding your dream property and then putting the necessary down payment on it. Unless you are absolutely flush with cash and have a total abundance of needed funds, you’ll want to properly prepare to have the necessary budget needed to comfortably complete the purchase process. If you’re in the market for a new piece of Denver’s hot commercial real estate market, here is how you should plan to budget for it. 

Purchase Costs 

Of course, one of the most important components of the commercial real estate buying process is to have the necessary funds to put down a down payment on the property. You’ll likely need much more than what is typically needed for a residential property, as a lender will want to feel comfortable knowing you are adequately invested in the purchase. Unlike with residential loans, lenders are much more picky about who they lend to, so you will want to have all of your ducks in order before you think about finalizing a deal.

Outside of the obvious expenses that will accompany purchasing the property, you will want to have enough money to prepare for any additional costs which may be associated with the building. This can include money for environmental and structural assessments which may need to be done. You will also need to have money set aside for the appraisal, as well as the cost of completing a title search.

Closing Costs and Contingencies

In addition to the purchase price, you will want to have money set aside to complete closing costs, such as the realty commission cost, taxes associated with the purchase, and any legal fees associated with the transaction. Additionally, you will want about ten to fifteen percent of the purchase price set aside for any unexpected contingency expenses. You certainly don’t want to be short-handed in the event of an unexpected expense. 

Renovations and Repairs

Finally, before you close the deal and begin to reap the massive benefits of owning commercial real estate in the mile high city, you will want to also have enough money set aside for potential repairs and renovations. Prior to closing the deal, you will want to have a thorough inspection completed by a trusted contractor in order to get a solid idea of what kind of repair and renovation costs you may be facing. If you think your new building will require a lot of TLC, be sure to build that into the purchase price.

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.
 

Searching for the perfect commercial real estate property in Denver can be a tough task to fulfill, as you will be needing to find property that will be fulfill all of your specific qualifications. It’s not just a matter of going out and buying the first available property that you find which appears to be a decent deal. You need to do your due diligence and find out everything possible in order to make an accurate determination if a property is worth its weight in gold. There are a few obstacles which can present themselves, factors which are important to be aware of before you dive head first into the Denver commercial real estate game.

A Property Owner is Hiding Something From You

Let’s be honest: not every property is going to be as it seems. What may appear to be a perfect property on the surface may have plenty of skeletons in its closet, factors which can turn a possible dream piece of commercial real estate into a complete nightmare. For instance, a building may appear to be a very desirable piece of property to buy, but the property owner could be hiding the fact that the foundation is cracking and there are serious structural issues which will require extensive and expensive repairs. This could turn your ideal property into a situation where you regret having bought the asset to begin with, as it becomes more of a burden than its worth.

Economic Uncertainty Causing Market Hesitation

If you’re looking to enter the Denver commercial real estate market with confidence, a major stumbling block can be an economic downturn hitting right before or after you are about to close a significant real estate deal. The way in which the national and global economy operates can play a serious role in terms of how valuable your property is and whether you are able to gain value in your asset as times goes on. 

Obviously, you don’t want to purchase a piece of property right before a market downturn occurs, as you might be underwater with your investment for a bit before the market rebounds. It’s important to do enough research about current market trends in your region in order to get a solid understanding of what is on the horizon, as the last you want to have happen to you is to be blindsided and be picking up the pieces for an extended period of time. 

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.
 

When it comes to Denver commercial real estate, one of the most popular developments seen in the space is a mixed-use development. These are projects where you will have a shopping center in the same complex as a high-end residential condo high-rise. This unique trend is now becoming much more commonplace all over the country, as individuals begin to place a larger value on becoming connected to the community they live in. An apartment that lacks retail and restaurant options will begin to look less appealing as more mixed-use projects become a reality. Here’s why you can expect to see this trend continue into the foreseeable future.

Squeezing the Most Out of Your Asset

If you’re looking to develop a profitable commercial real estate development, you want to think about ways in which you can generate revenue outside of simply collecting the rent. One way of fostering this is to develop a mixed-use project, one which encourages tenants and residents to conduct large amounts of economic activity within your development project. Giving people a reason to stay within the confines of their mixed-use development is a great way to maximize your investment.

A mixed-use development can offer property owners a continuous stream of revenue, collected through property fees as well as increasing rents. The more popular a project becomes, the more attractive it will look to potential tenants, allowing you to charge a premium to become a part of the project. Wouldn’t you want to become the envy of every possible retail and restaurateur of the city?

Fulfills the Expectation of Convenience

One of the biggest reasons why mixed-use developments have risen in popularity is due to the fact that they satisfy the consumer expectation of convenience. The rise of online shopping has made it harder for traditional retail operations to compete with big box stores. However, an attractive mixed-used development can provide a reason for people to begin to flock back to traditional retail operations. 

We are now a world that is driven by instant gratification and being able to have practically every product and service provided to us on demand. This reality can make it difficult to motivate customers to leave their house to seek out a traditional retail experience. However, if the retail shops are within a short walk of one’s doorstep, it makes it much more likely that a person will engage in this form of commerce.

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.