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Don't leave it to the kids!
By Rich Vaaler
When working on estate planning with owners of commercial real estate, many investors say “we are just going to leave it to our kids”. Or, worse, we are just going to sell it, pay the taxes and leave what’s left to our children. If you hear someone say this tell them NO! There are better scenarios to preserve generational wealth.
Don’t Leave Money on the Table When You Sell a Commercial Property
By Rich Vaaler
If your marketing program consists of a FOR SALE sign in front of your property, you are missing out on a lot of money you might otherwise earn. The stakes are high if a seller takes the traditional path. The difference between saving a few percentage points for a co-broker commission vs the potentially much higher sales price is not worth the trade.
How do you know the “right” price to pay for a commercial investment property? Understanding the cap rate, risk/reward relationship, and future potential of a property can be a complex process with many variables. If you get several, or even one, of key components wrong in your evaluation it could mean disaster down the road.
Commercial real estate brokers are often optimistic people by nature. They want to help their clients achieve their goals and get the best results. However, sometimes they can be misled into thinking a property is worth more than it really is.