Office property investment is not just an investment you can barge into without putting some factors into consideration. Things have been changing rapidly which has created a different dynamic of how things work, IgbereTV reports
Few years back, it was easy to get away with mistakes made from investment. But, in this new age, mistakes made in investment would hit and eat you hard for a very long time.
Office properties are always assumed to be a very good investment for a newbie in property investment because it has the same features and benefits real estate brings. However, it doesn’t work out like that.
While investing in office properties, you need to be careful and be on the lookout. Good as it may seem, office properties project a great turnover but then, it cannot be valid unless some steps have been taken.
1. Consult an experienced property investment company with a track record of excellence.
As an investor, you don’t want to put your money in an investment that would yield little or nothing. No matter how vast you think your knowledge is concerning property investment, you’d do yourself a great favor by still seeking the advice of a property investment company before investing on office property.
Besides this, you need to do feasibility studies on the returns on such property and see if it’s worth putting your money on. Seeking advice from an investment company helps you have a better knowledge of the local market, the kind of business people are tuned to, if your office property fit in to the taste of the people and so on.
2. Consider the local market.
There are different classes of property type and it would be in your best interest to put the local market into consideration. You can’t build an industrial-grade office property type with all amenities for users who can afford to pay a premium price in suburbs or places where the tenants always seek lower price.
Many investors have made this mistake and I will cite an example. Mr. and Mrs. Popoola thought building an office with their retirement benefits was a great decision
