Brian Fielding Shares 5 Essential Tips for Commercial Real Estate Success

Posted by on Jul 19, 2015 in Brian Fielding, Fielding Charities, Fielding investments | Comments Off on Brian Fielding Shares 5 Essential Tips for Commercial Real Estate Success

Veteran commercial real estate advisor Brian Fielding shares some of his best advice for success in the world of commercial real estate investment.

Veteran commercial real estate advisor Brian Fielding shares some of his best advice for success in the world of commercial real estate investment.

Brian Fielding of Fielding Investments has been in the commercial real estate industry for over 40 years. His experience is truly invaluable in an industry where having gone through the process of acquiring and managing a commercial real estate property is one of the biggest advantages to have. However, there are some tips that Brian Fielding and Fielding Investments are sharing that are likely to help those with little or even a lot of experience in the industry.

 Have adequate protection.

Something that many investors have oversight on is the level of protection that they attain for their properties and themselves. Lawsuits can and do happen, so it is important to protect oneself from a broad spectrum of potential negative situations. Always ask oneself what’s at stake to be lost, and how can it be protected. Mr. Fielding suggests that new investors establish a working relationship with both an attorney and an insurance broker who demonstrate special competence in commercial real estate transactions.

  Learn from someone who has already been there.

Brian Fielding knows that most commercial real estate investors do not have 40 years of experience in the industry, which is why he advises that inexperienced buyers acquire a mentor. Mentors can help investors in ways like pointing out their own mistakes, relating how they overcame obstacles and more valuable information that will put the investor at an advantage.

  Invest to make a profit.
Oftentimes, investors will get overzealous and start acquiring a large number of properties. However, without the right attention to detail and calculating of operating expenses, etc., these properties can quickly become a drain on finances. Brian Fielding shares that acquiring properties too quickly can cause the investor to miss those flaws that would be found by careful diligence by qualified engineers and contractors. He always suggests that investors build their portfolio slowly, allowing for successes to breed future successes.

  Home in on one type of real estate.

While it is tempting for one to pursue a wide variety of commercial properties, most successful investors tend to limit themselves to investments that best coincide with their unique knowledge. It is very difficult to become an expert in multi-housing, retail, office, land development, trailer parks, etc. Mr. Fielding suggests that it is much better to be a master at one area of expertise than a tinkerer in many.

Know that money will need to be spent.

It is naïve to think that an investment property will maintain its good condition over an extended period of time. One must budget for regular maintenance and for replacement of critical elements to any asset. Put aside money sufficient to replace roofs every 15 -25 years (depending upon the environment and quality of the roofing materials used), HVAC systems every 10 – 15 years, and to handle structural and grounds (such as pavement) to ensure that the asset remains inviting to existing and future tenants. Also, include in the budget preventative maintenance activities that will ensure investors get the full life out of the improvements. A few dollars well spent each year can save substantial monies over the term of one’s ownership.

 

For more information about commercial real estate investment and for answers to some of the most common inquiries that Fielding Investments receives, contact Brian Fielding at http://brianfielding.com.

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