debbie

Dena A. Fernandez leased 1,200 sf of space in the Mustang Retail Center at 314 W. Highway 152 in Mustang, Oklahoma. The space will be used for a new Stretch U location. The lease was negotiated by Rod Baker, CCIM of Baker First Commercial Real Estate and Jill Baker of 1st United Oklahoma, Inc.

Cupcakes To Go-Go Corp. renewed their 1,200 sf lease at 2524 W. Edmond Rd. in Edmond, Oklahoma.  The lease was negotiated by Rod Baker, CCIM of Baker First Commercial Real Estate Services.

Concentric Properties, LLC recently purchased 1.44 acres of land for $199,000 at NW 146th & Santa Fe from Jo & Sons, LLC.  The sale was negotiated by Rod Baker, CCIM of Baker First Commercial Real Estate;  David Lide, Matrix Commercial Real Estate, LLC and Josh White of Great West Management Corporation.  The closing was handled by Jackie Hatton with Oklahoma City Abstract.

Oklahoma Employment Securities Commission (OESC) renewed their lease of 7,645 sf of space at 2800 NW 36th St. The lease was negotiated by Lori Petit of Baker First Commercial Real Estate.

Bacon Enterprises, dba Dent Center renewed their lease of 1,600 sf of space at 8008 Rockwell in the Commerce Pointe Retail Center. The Dent Center performs paintless dent repair. The transaction was negotiated by Lori Petit of Baker First Commercial Real Estate.

Delmer Siemens leased 566 sf of office space at 3824 N. Meridian at Meridian Gardens Office Plaza for a church.  The transaction was handled by Lori Petit of Baker First Commercial Real Estate.

SW 45, LLC purchased a 869 sf residential property at 1109 SW 45^th St. in Oklahoma City for $100,000.  Sellers were Robert J. & Mary E. Patchin. The sale was negotiated by Cathy Riley of Baker First Commercial Real Estate Services.  The closing was handled Oklahoma City Abstract & Title.

Commercial real estate investing can be a big step to take financially for most people and some common mistakes can be made, especially if you have not taken the time to research your investment with proper diligence.  This month, we will continue our discussion on some of the more common real estate investment mistakes and how to avoid them.

Many people make the mistake of finding a great property, and then do not know the next step involved and all the people that play an important role in investing. The idea is to formulate a plan and then find a property that will work with this plan. A smart investor has a team of real estate specialists assisting them. You will want to have a good real estate agent or investment firm on-board to help you analyze the properties and market conditions.

Three important points to consider:

• Team work is crucial – real estate investing is a big step for most people and don’t make the mistake thinking you can do it alone. There are many people who play a key role in making a real estate deal work. Utilize your resources and networking for good advice from people you trust. In addition to a good real estate agent or investment firm, you will need a lender to finance with. You will also want an appraiser and an inspector to evaluate the property in question. Most importantly, you will want an attorney who will review the deal for any hidden problems or surprises.
• Overreaching and thinking you will get rich quick – these two common mistakes you definitely want to try and avoid. Overreaching is when you take a risk that is too high and going for deals too soon, can be risky and get you into trouble. Getting rich quick is also a common mistake, when actually slow and steady makes a successful real estate deal. Be realistic about your finances and goals, and don’t bite off more than you can chew.
• Always have an exit strategy- too many people have found out the hard way when a deal goes south, that you must have exit strategies in place when involved in commercial real estate investing. Without multiple exit strategies, you may end up stuck in a deal that you don’t really want.

Original Posting:  http://capstarco.com/commercial-real-estate-investors-common-investment-mistakes-part-2/