Purchasing, selling, renting, or converting a real estate asset into a profitable venture can be a challenging, complex, and time-sensitive process. Many questions often arise that can dramatically impact the outcome. If you currently own or are considering purchasing a piece of real estate, you may benefit from real estate advisory services. Let’s explore why.
Every piece of real estate has value. The value can fluctuate depending upon a variety of market conditions. A seller’s market may come and go. A buyer’s market may come and go. But, knowing what to do with the real estate is the key to maximizing its value. There are a variety of significant factors that must be analyzed in order to achieve the highest return on any given piece of real estate. Determining the highest and best use is, of course, the million dollar question. For example, a single family home situated on a busy street may garner you $350,000 in the residential market. But, a real estate advisory may evaluate other options for the property. Perhaps the property could be re-zoned commercial, the house torn down, and the lot marketed to a national retail chain for five times that amount? A real estate advisory firm, like Rachuba Real Estate Advisors, can evaluate those options and help the property owner obtain top dollar for their real estate.
Another way that a real estate advisor can help you is to develop strategies for income producing properties. Let’s say you own a retail shopping center. Perhaps you have a higher than normal vacancy rate and/or you haven’t been able to escalate your lease rates in some time. Your advisor can perform a study of comparable properties, evaluating a variety of factors. The solution may be to update the property or improve operations. On the other hand, perhaps traffic flow needs to be evaluated to improve the customer experience for the retail shops? These are the types of services an advisory firm can provide.
So, while there is no magic formula that works for every scenario, the #1 secret to making smart real estate investments is to hire a real estate advisory firm. In many cases, the return on investment far outweighs the costs for the advisory services.
Rachuba Real Estate Advisors provides over 40 years of experience and unique analytical processes to serve as a valued advisor for all types of real estate transactions – from concept to completion, from development to long-term producing income asset, and everything in between. Contact Rachuba Real Estate Advisors today for a free consultation!