Every industry seems to have its share of misconceptions and inconsistencies, and industrial real estate is no exception. In the case of this specialized type of real estate, the falsehoods are enough to potentially scare away potential investors or lead them down a path to serious mistakes. But as with anything, the more you know, the better off you are. Here’s what to know about four of the most persistent myths in industrial real estate.
Property Management Takes Too Much Time
While it’s true that an industrial property needs to be properly managed and maintained, that doesn’t mean these tasks must fall to the investor. Property management services are designed to address precisely this issue. Here in northern Nevada, commercial property management is one of the services offered at Miller Industrial Properties. Ask us what this entails, and why assets and portfolios that are actively and professionally managed both perform better and yield more on disposition as well.
You Can Find Lists of All Available Properties Online
While standard wisdom holds that an online search will yield all available properties in your desired market, that’s not the case. In fact, the majority of industrial investment properties aren’t publicly advertised, but rather shown, negotiated, and sold in private. The best industrial real estate agents serve as matchmakers to bring together the right buyers and sellers. That means you’re better served by partnering with an experienced agent than forging on solo.
Industrial Real Estate Agents Are Too Expensive
First, to exactly how an agent earns his pay on a transaction, we suggest reading this post. And keep these facts in mind:
You’ll gain access to properties you wouldn’t otherwise know about
You’ll benefit from the experience and expertise of your agent, who can parse the subtleties of the market and likely save you money during negotiations
Industrial Real Estate Investments are Too Risky
There is risk involved with investments of any kind, and the same principles apply — the greater the risk, the greater potential for reward. Still, not all industrial properties pose a terribly high risk. An experienced agent can guide you towards properties that will suit your goals, whether it’s rapidly building wealth or adding a small but steady revenue source.
The Takeaway
Before you decide that industrial property isn’t right for you, make sure you’re starting with all of the facts. An experienced agent can quickly shed light on the situation, putting you in a position of understanding so that you can make appropriate, informed decisions. The benefits of an experienced agent aren’t limited to investments, either. If you’re renting or coming due for a lease renewal, an agent in your corner means your interests will be fairly represented. In northern Nevada, the team at Miller Industrial Properties can help.
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