Industrial Real Estate Strategies: The Best Ways To Find Your Next Investment In Industrial Properties For Passive Income Through High Rent by Michael Steven

Author:Michael Steven [Steven, Michael]
Language: eng
Format: epub
Published: 2022-10-17T22:00:00+00:00

Popular IRE Investment Green Flags

Consider the potential end-user (buyer or tenant) when evaluating an industrial property. Invest in assets that would satisfy the renter's needs. Things you may want to have with your IRE property (to make it unique and attractive to users) include:

● Size: Analyze the property's overall size and ensure that the showroom, office space, and warehouse meet users' requirements. For example, industrial properties with too many office spaces hardly attract potential users (Highman, n.d.).

● Shape: Check the property's boundaries, gates, and roads to know how people access the asset. Does the property's shape support trucks and deliveries? Can staff and customers access the area they want to reach effortlessly?

● Improvements: Examine the showroom, office space, warehouse, and other vital areas within the property to see if there's a need for any improvements to give the asset a facelift. If there are repairs or replacements, list them out.

● Amenities: Renters will need conveniences like electricity, internet, water, telephone, sewer, and drainage for their businesses. If the property has these amenities, check the connections. Some businesses require 3 phase power for their industrial operations and machinery installation.

● Zoning: Visit the local zoning office to verify if the property is allowed in the area.

● Environmental Factors: Ensure that the land (around the property) is not prone to flooding and other environmental hazards. Check for potential environmental challenges and feasible solutions.

● Adjoining Assets: Check for nearby properties and how they could negatively impact your IRE asset. For example, their deliveries, waste, and noise could be thorns on your tenants' necks.

Offer value if you want to lower vacancy rate and improve rental income. Researching the conveniences potential rental firms crave and installing them can help.

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