<p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Key Takeaways:</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Location Matters: Choose a location that fits your specific investment strategy and asset class.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Cash Flow is Critical: Aim for properties that can cover debt service, especially in the current interest rate environment.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Environmental Due Diligence: Always conduct a phase one environmental report to identify potential contamination risks.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Property Age Considerations: Older properties can have expensive maintenance issues, particularly with plumbing, HVAC, and infrastructure.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Zoning Verification: Always double-check zoning with the city, as local tax maps can be inaccurate.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Parking and Accessibility: Evaluate parking needs based on the specific market and neighborhood.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Surrounding Neighborhood: Assess the condition of nearby properties and potential for future development.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Tenant Compatibility: Consider how surrounding businesses and potential tenants align with the property's intended use.</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Feasibility Study: Do quick initial calculations to determine if a deal is worth pursuing further (e.g., price per square foot, potential rental rates).</p><p data-rte-preserve-empty="true" style="white-space:pre-wrap;">Investment Strategy: Look for opportunities to potentially double your money in 3-5 years through a combination of cash flow and appreciation.</p>
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