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Knowing the basic differences in investing in industrialproperties such as office service, multi-tenant and largemanufacturing properties in the basis for making sound investmentchoices.Office Service PropertiesInvesting in office service properties is generally a profitableenterprise. A typical office service would be a plumbing company. Thestandard office service building is probably about 50,000 square feetwith 15,000 of that space used for the showroom to display commodes,bathtubs, and faucets. However, they also have a huge inventory inthe back, which is where most of their business is conducted.Freestanding, Multi-Tenant, and Large ManufacturingPropertiesWhen investing in industrial properties such as freestanding,multi-tenant, or large manufacturing properties, remember thatfreestanding buildings are usually larger and mostly single-tenant.In fact, the single tenant is often the owner in this kind ofproperty. You can group freestanding, large manufacturing, and evenmulti-tenant buildings all in the same category in the initialstages. However, experienced commercial property investors andrealtors would advise beginner investors to stay away from this typeof property. Its more of a specialty-type property, meaning thatyou must really understand the industry and the business.To examine the issues of investing in this market, consider thefollowing example. Lets say you have the opportunity to buy amulti-tenant building of 100,000 square feet both for an investmentAND for the headquarters of your own business. It suits your businesspurposes and has space for two other tenants.Tip: The vast majority of the time in this market, evenwith just three tenants, one of the tenants is the owner of thebuilding. This is a substantial building thats in the multimilliondollar range, but with three tenants, basically it means that youhave about 33,000 square feet per tenant.That may sound like enough room for everybody, but if one tenantmoved out, you just lost one-third of your revenue. It takes quite awhile to rent 33,000 square feet, particularly in a building thatusually has some kind of specialized function. You could be empty foras much as a year or two or more.Now, you have to decide if you can withstand that kind of deficit.If you are lucky, two-thirds of the building will carry the mortgageand the other one-third is your profit. So, it might be okay, but youwill still barely break even for a significant length of time, and noinvestor wants to do that. These specialty areas are not good placesfor beginning investors, even if they have another business thatcould use that space of 1/3 of the building for themselves. In ouropinion, its risky. We advise you invest in the areas where youwont get hurt and you know that you can manage the risks.NOTE: Ask yourself if what risk is involved every time youinvest in a particular piece of real estate. Whether investing inindustrial properties such as office service, multi-tenant, and/orlarge manufacturing properties or any other commercial property,weigh all factors first.OneDeal to Financial Freedom? Gary Tharp invites you to get access toask the real estate experts who are mentors to millionaires today!Attend the next free commercial real estate webinar with some of thenation's leading real estate experts: commercialindustrial property investments
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