Looking for commercial brokers

13 Replies

Originally posted by @Jefferson Valencia :

Mainly looking for apartment complexes that need work, foreclosures, short sales etc… under 1 mill preferably.

 That is a tough price point for you to start with a new broker. Very few people specialize in those property types. You should look at Ohio, Detroit, etc. Under $1million is a lot of PM. In this market, there are very very few foreclosures or even short sales...

@Jefferson Valencia Columbus, OH is a great market to check out commercial real estate (either mult-families or true commercial properties).

While there aren't many foreclosures or short sales here (or in most markets for that matter), $1M will go a long way in C/B neighborhoods for large multi-families. CAP rates are strong here and rents reached a peak increase last month.


Good luck!! 

Originally posted by @Ronald Rohde :
Originally posted by @Jefferson Valencia:

Mainly looking for apartment complexes that need work, foreclosures, short sales etc… under 1 mill preferably.

 That is a tough price point for you to start with a new broker. Very few people specialize in those property types. You should look at Ohio, Detroit, etc. Under $1million is a lot of PM. In this market, there are very very few foreclosures or even short sales...

Yes sir, but i have a mentor that gets his priorities first hand from his commercial broker. Most of the deals are foreclosures and short sales.

I can piggyback off of the above replies and also throw out that for straight commercial properties, Columbus is very investor friendly in terms of getting anchor companies to sign leases with incentives to bring jobs. If you have a renter or company lined up that needs space you can negotiate with the city or smaller jurisdictions to incentivize the move. 

Columbus historically resists recession in terms of population growth so for companies trying to sell goods or house office space there is always a demand. I know also with the recent work from home switch a lot of places are going through, large companies are not needing as much office space meaning the owner of the property will likely have vacancies coming up. This lends the opportunity to new investors to come in during a time of lower cashflows and offer on a property that should be cheaper as the CAP Rate is not as great in the short term.

I hope this helps!

Originally posted by @Calvin Watkins :

I can piggyback off of the above replies and also throw out that for straight commercial properties, Columbus is very investor friendly in terms of getting anchor companies to sign leases with incentives to bring jobs. If you have a renter or company lined up that needs space you can negotiate with the city or smaller jurisdictions to incentivize the move. 

Columbus historically resists recession in terms of population growth so for companies trying to sell goods or house office space there is always a demand. I know also with the recent work from home switch a lot of places are going through, large companies are not needing as much office space meaning the owner of the property will likely have vacancies coming up. This lends the opportunity to new investors to come in during a time of lower cashflows and offer on a property that should be cheaper as the CAP Rate is not as great in the short term.

I hope this helps!

 Thank you Calvin.