Experienced Investment Property Brokerage Weighs In
The coronavirus pandemic has done much to stifle people and businesses. While countries across the world shutdown, economies bordered on sinking like the Titanic. Stores that relied on in-person visits from customers, like hairstylists, found themselves shuttered and worrying about when or if they could go back to work. Others, like healthcare workers, put in long hours and fretted about the safety of their families. Many Americans took this time to assess their current life choices and decide on their next moves. Real estate investors are no different. As they watched rent income take a nose-dive, they had to step back and decide whether to keep chugging along or to sell everything and give up.
While much is still to be seen, many investors see new opportunities ahead, especially in the Jackson, Mississippi area. One news article noted that Jackson didn’t take a dramatic hit as some larger commercial markets. That is excellent news if you are looking to expand your business with a real estate investment opportunity in Mississippi. The Estes Group keeps its ear to the ground and stays abreast of the current situations. Work with us to find your next investment property opportunity and enjoy the years of experience available to serve you.
Where to Focus on Investment Opportunities after COVID-19
Even as the pandemic continues, use the chance to make needed changes and shore up your real estate investment portfolio. Consider these three areas to get you started:
- Technology: One of the most significant assets you have when looking for your next real estate investment opportunity in Mississippi is through technology. A simple search over the Internet will render you with plenty of responses. One particular tool is the Mississippi Commercial Real Estate Exchange (MSCREX). It was designed with commercial property brokers in mind. Search this expansive database to find valuable resources such as demographic information as well as property availability.
- New Niches: COVID-19 has people all over the world re-evaluating their lives and livelihoods. Some are branching out into new arenas. Now may be a good time to look into other commercial real estate investment opportunities. For example, last-mile warehousing is gaining in popularity as online shopping has skyrocketed. Another up-and-coming option is multifamily micro-apartments. These are tiny living units generally between 200 to 400 square feet that appeal to a younger crowd. Mom and Pop retail strip centers offer flexibility for the different types of businesses occupying them, and the convenience of the residential neighborhoods being served.
- Experts within the Market: Long-time investors understand that the market fluctuates. They also depend on commercial real estate brokers who keep their thumb on the pulse of what is going on. To find the best opportunities for your expanding business or portfolio, be sure to enlist the services of an experienced investment property brokerage like The Estes Group.
Nail Your Commercial Real Estate Investment Opportunity in Mississippi
Avoid losing out on new opportunities during this time of uncertainty in many areas. The team at The Estes Group stays abreast of the ever-changing real estate landscape not only for Mississippi, but also for Alabama, Tennessee, and Louisiana. When you want to work with a premier investment real estate company, look no further.
If there’s a real estate investment opportunity in Mississippi you can take advantage of, know that it won’t wait for you—so you shouldn’t wait either!
Call us at 601-362-9633 or contact us online to discuss your goals with our knowledgeable and experienced brokers.
Selling Your Investment Real Estate in Jackson, Mississippi? – Your Investment Real Estate Broker Outlines the Key Steps Involved
Part of the commercial real estate investment world is the transactional arena where buyers and sellers come together at the bargaining table. The buyer wants to get a great deal for a fair price. The seller wants the same. With mutual goals, what stops an owner from selling and reaping the rewards of a profit? It might surprise you, but it has very little to do with finding the optimal time to sell. There are other issues you should address before listing your investment real estate in Jackson, Mississippi.
Remember to focus on the bigger picture when you are ready to sell. The Estes Group has the experience and knowledge to assist you in properly assessing your investment property. As a preferred investment real estate broker in Mississippi, we understand what is at stake and help guide you on your next best steps. Additionally, we are licensed in Alabama, Louisiana, and Tennessee, so geography is not an issue when you find a deal too good to pass up.
5 Timeless Tips for Selling Your Investment Property
Even in today’s fast-paced world, there are times when sticking to the tried and true will make your commercial property more sellable and the transaction much smoother. Here are five timeless tips to use when you decide to sell your investment property:
- Make sure all maintenance issues are addressed. There are a few reasons you should take care of any deferred maintenance issues, cosmetic work, and landscaping.
- It can enhance your property value because it gives the prospective buyer confidence that the real estate has been adequately cared for while you owned it.
- It can speed up the closing process by eliminating delays for fixing items required by the bank or appraiser.
- Buyers will often deduct the anticipated cost to cure these deferred maintenance items, which is usually much higher than the actual cost to fix.
- Look over all leases and renew any expired ones. Most buyers are looking for stable income streams. One way to reassure them is to renew all expired leases, as well as those leases set to expire during the listing period. Granted, you may not want to renew a tenant’s lease that pays well below the market rate. You may have to convert any month-to-month leases, or they may be assumed vacant. If you don’t, it may negatively impact the buyer’s view of the value and their Net Operating Income (NOI).
- Analyze your income and expense reports for the previous three years. Buyers will have questions, and you need to have answers. When you review your last three years of income and expenses, you can explain those times of rent loss and non-related property expenses that were not capitalized. These can include installing new HVAC units, carpet, or other non-reoccurring improvements. When a misappropriated expense is deducted from the buyer’s NOI, the value increases.
- Check into possibly using a 1031 tax-deferred exchange. Once you sell your real estate, you will probably be in the market to purchase another. You may face substantial capital gains taxes or hefty depreciation recapture. Discuss with your CPA or attorney well in advance to make the necessary preparations.
- Enlist the services of an experienced investment real estate broker. Marketing and facilitating the buying and selling of commercial investment properties require the talents and skills found in an experienced investment broker. Look for those with professional designations such as CCIM, SIOR, or CPM. Your buyers are sophisticated and informed, just like you, and you deserve to have someone who can maximize the value in your corner.
Work with Jackson, Mississippi’s Trusted Investment Real Estate Firm
Keep your legacy growing with the trusted Jackson, Mississippi investment real estate brokerage of The Estes Group. We have the knowledge and infrastructure in place to make your commercial real estate transactions run smoother. Let us help you with all your transactional, managerial, and developmental property needs.
Call us at 601-362-9633 or contact us online to discuss your real estate goals with a knowledgeable and experienced investment real estate broker.