The SBA 504 Experts Explain Why NOW is the Perfect Time to Buy Commercial Property…

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7 Responses to “The SBA 504 Experts Explain Why NOW is the Perfect Time to Buy Commercial Property…”

1. Mark Cumberland Says:
   July 13th, 2010 at 4:09 pm

   I have been saying it every week on my real estate show. The commercial market is opportunity time!
   Good News In Real Estate 97.5 ESPN Check it out

2. John Rackler Says:
   July 13th, 2010 at 5:43 pm

   Chris-
   Thanks for the email. I agree that it's a good time to purchase commercial property. My CPA finally finished my tax return today and I have a Fedex standard overnight on its way to Shawn. He called after I posted interest on your website. Thanks again!
   John

3. Joe Welnack Says:
   July 13th, 2010 at 6:43 pm

   Thanks as always Chris for your astute comments and sharing this article with us. We have found bargains in Florida and Detroit Michigan. In the case of Detroit we actually acquired a property for 5.25 per square foot at auction and flipped it to a buyer a few months later. In metro Detroit and the city proper a lot of foreign investors are banking on a return to prosperity and the pickings are numerous. Anyone who wants to see some very depressed prices should visit Loop Net.com and review the listings, amazing.

   Here in Florida we are doing a deal where the property is grandfathered for a use no longer permitted by the municipality we are in. Being the end user we find a real opportunity in distressed bank foreclosure. Personally I believe that if buildings can be acquired for less than $40.00 a square foot they deserve a look.

   I firmly believe that for owner occupants a real goal should be to find a property where a part can be leased to another business to further enhance return.

   My sainted grandfather used to tell me stories about the Great Depression; he was a "saver" and became a very well to do investor as the economy improved. A banker I am well acquanted with states that the pressure from bank examiners is resulting in banks to selling properties at fire sale prices.

   I fully concur with this well thought out article.

4. Don Says:
   July 14th, 2010 at 9:31 am

   You know Chris you are very right about saying this it is a great time to buy commercial real estate.

   But there is one BIG problem. I have seen great deals come across my desk and ran the numbers on them and the DCR's are over 1.25, but still can not find the financing for them because of my credit.

   I have even found deals where the seller will hold 20% and no one will fund this deal.

   Also i have found deals from banks cheap, but the vacancy is below 70% and bank says they don't lend on anything like this it needs to have 85% or more to fund them. So when you find a great deal from a lender REO with low Occupancy because it is now Bank owned and not ran right what are you to do.

5. Rom Parani Says:
   July 14th, 2010 at 9:31 am

   You are absolutely correct with your statement.

6. John Olivieri Says:
   July 20th, 2010 at 1:21 pm

   I agree with your article. Now is a great time to buy commercial real estate. Although the vacancy is up, we see more of the office space for lease in the southwest suburbs of Chicago coming back strong. For a while, we have seen rents drop and get pretty low - around $ 11.00/ SF now we see things picking up and rental space pricing is increasing. Thanks for the information and article.

7. andy andreason Says:
   July 22nd, 2010 at 11:44 am

   Chris Do you refinance commercial. My son is buying me out and I would like to see if I can have a lower interest rate to pass off on him?

   property apprasial 850,000 Owe6 and change

   no money out just lower interest rate

   andy

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