Image Source: Steve wilson Here are at least six different industry experts investors should connect with when investing in real estate, especially when venturing into commercial property. 1. Property Investment Consultants One of the most important professional all real estate analysts agree investors need on their side are property investment advisors or consultants. These professionals bring together decades of experience, immense volumes of data and inside expert knowledge into local markets and properties to help investors make sense of the options available, and make the optimal choices for their personal portfolios. 2. Mortgage Bankers Everyone needs finance connections. Even investors with enough capital to pay all in cash will find plenty of advantages of using leverage. Shopping around with strangers on the open market for loans at the last minute is a surefire way to end up with a bad deal. Investors will do well to have a mortgage advisor that has access to a wide variety of products and knows how to get financing expedited when needed. Beyond shopping mortgage interest rates, they'll help secure the ideal loan structures to match short and long term goals. 3. Tax Professionals Far too many Canadians leave taxes to being an afterthought. Experienced real estate investors know that taxes can make all the difference in real returns. They not only want to know the tax implications of each investment, but how they can limit tax liability with each move, and they leverage experts to create proactive annual and lifetime tax strategies. 4. Estate Attorney Estate planning is another core factor for Canadian investors. Even if you don't have much now, getting started in commercial property investing means you are on the track to more. For many Canadians, commercial real estate investing is all about building a nest egg, legacy and inheritance, but what is it all for if succession planning isn't handled properly? 5. Property Managers The truth is good property management is imperative. Taxes, forecast income and returns, employment and oil prices are all mute subjects if the execution is poor. Similarly, even average investment opportunities can far over-perform with great property management in place. 6. Property Appraiser Having a relationship with a professional property appraiser can be very wise. Instead of simply relying on realtors or sponsors of an investment, an appraiser can provide an unbiased opinion of value, as well as expert insight into what can be done to add value to an investment property. Summary This may seem like a lot of individuals to be in touch with. Fortunately, Canadian investors can streamline this by working with experts that have teams or can offer referrals across the board for a more simplified and less time consuming experience.
- September 7, 2017
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