Investing in real estate is a great way to increase your wealth. Commercial real estate investing, in particular, is known for providing some of the highest income streams. If you have been wondering how to invest in commercial real estate, the first piece of advice by David Reynoso of Merrick, NY for you is to avoid failing businesses or businesses models.
If your tenants include grocery stores, restaurants, bars or business models which are going online (like banks), you need to assume that they'll default on their lease at one point, & therefore you must prepare your insurance correctly to ensure that you're covered when that happens. So, search for all the failing businesses in your preferred area and make sure you don't deal with them because there may not always be a golden parachute.
Apart from this, David Reynoso of Merrick, NY also stresses on understanding the ever-changing market trends and their impact on the demand of your commercial property down the line. As investing in commercial real estate isn't a passive investment, he believes it is critical to take an active role to make sure that your property achieves its maximum operating potential.
About David Reynoso
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.