According to David Reynoso, a NY based facility manager, having the right perspective is one of the most important traits for a commercial real estate investor to have. He says that success in commercial real estate investments call for a lot of time & effort upfront for researching, developing the right relationships, & identifying the right type of investment. While the commercial side of real estate is an appealing proposition for any investor, it is also a different beast that requires some additional considerations that may be irrelevant in the residential side of the business.
David Reynoso of NY explains that not taking into account that everything takes longer in commercial real estate investing is a sure-fire way to fall flat at it. In commercial real estate, everything starting from due diligence, finding tenants, building out or renovation, to even the leases are longer. Hence, patience is key. One of the other tips he has for those who are just starting out in commercial real estate investing is to thoroughly understand the market trends and their impact on the property type you are selecting. For example, if you're investing in retail, consider both the near and long term impact of e-commerce on tenant as well as consumer demand. Similarly, if you're investing in offices, consider how the trends, such as co-working & telecommuting could impact the demand for office space in the market.
About David Reynoso from NY
Based in Merrick, NY, David Reynoso is an experienced facility manager specializing in operations and maintenance management advisory services, automated building solutions, health and safety environment management, & energy and sustainability services (including certifications, procurement, consulting, etc.). As a facility manager, he accomplishes his objectives by managing, aspects, such as Fire Safety, Security, EHS (Environment, Health and Safety), Cleaning, Maintenance, Testing and Inspections, etc.