According to David Reynoso, a NY based facility manager, when it comes to investing in a commercial property; there are many factors that come into play. For instance, when investing in commercial real estate, you need to consider demographics & trends of the area you are interested in. Along with that, you also need to have a thorough understanding of the market. Having a good wherewithal of the fundamentals, such as - the prevailing competition, legal implications, vacancy, rents, etc also allow you to make an informed investment decision.
David Reynoso of NY also emphasizes on the need to understand the dynamics of the property type you select. In case you want to invest in retail, you must consider both near and long term impact of e-commerce on the tenant & consumer demand. Similarly, if you are interested in offices, you must consider how trends, such as telecommuting and co-working could impact demand for office space in the market. While taking into account all these factors, you must be patient, willing to take an active role, and focused on keeping tabs on development and economic trends in the local market, as well as broader economic trends.
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.