I spend a lot of time talking about investing in commercial real estate in Reading, PA. I've mentioned all the great deals and explained why I think that this is such a great opportunity to buy. I realized today that some sellers might read this and assume that I think they need to 'give away' their properties. Nothing could be farther from the truth. I do believe that the Reading, PA commercial real estate market is undervalued. This is why the deals are great for investors, but I do not advocate selling properties for less than their current market values. I also don't believe that great deals are necessarily about great prices. There are several ways to get a great deal.
Let me be clear, this is a very competitive market from the seller's perspective. With so many well priced properties, it doesn't make sense to compete on price. Seller's should price their properties realistically, but they need to find other ways to compete. It may be that they have a location or use that appeals to a specific market that they should target. Maybe they can sell the property in pieces, or maybe they can include the property in a larger package. There are several things specific to a property that may create the potential to differentiate. If not, I often suggest offering the property at flexible terms. For example, the seller can offer to hold a portion of the financing, or sell on an installment sale. This opens up the world of possible investors to include those who may be short on cash.
There are several other ways to differentiate your commercial real estate from the other properties in the market. Sellers and their agent's are only limited by their ability to be creative. Do you have a property that needs a little creativity to get it sold in today's market?
Comments(0)