Dayton, OH · Member since 2008 · 517 posts · 17 votes
20y
Other - legal issues for contracts.
Most of us in residential have a contract that we've gotten from a lawyer or a friend, but at the very least we can get nice pre-printed contracts from office depot. For me personally I simply don't know enough about the legalese that needs to be in commerical contracts and I'm not ready to bite off more than I can chew there.
Not only that, but I have one other big problem. I'm no expert on commercial property marketing and I don't want to struggle with vacancies there. It's fairly simple to get residential tenants, but I've seen some commercial properties sit vacant for YEARS.
As for contracts when dealing with commercial they are just as easy to
aquire as residencial, I've found its just a matter of paying attention to
detail.
When considering commercial properties you want make sure they
are income producing property, which in turn would mean you would
not have to qualify for the loan, or personally guarentee the loan...the
properties can secure themselves.
The key is to know what your looking for and how to find it.