Commercial Real Estate (CRE) has the potential to provide significant income to investors, but there is a lot to learn before diving in, says David Reynoso, a NY based facility manager with years of experience in his field. How's the local market economy in the immediate area? How many people live in the area? How many people are expected to move to the area or leave in the next couple of years? Is there room for economic expansion in the surrounding area? What will be the demand for a potential commercial property in this market in the future? Having answers to all these questions is important to make well-informed investment decisions.
David Reynoso of NY further says that not knowing the dynamics of the property type you are selecting can land you in hot water. Sharing an example, he says that if you're looking to invest in retail, consider the near and longer term impacts of e-commerce on tenant and consumer demand. Likewise, if you're looking to invest in offices, consider how trends like co-working and telecommuting could impact demand for office space in the local market.
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.