We don’t know everything that’s coming our way. However, with proper planning and preparation, a CRE investor can be sure to best provide for themselves and/or their heirs. I’ve worked with clients and investors that have found themselves in difficult situations.
When you’re in it, you want to find help from a brokerage that’s sensitive, empathetic, and will get the best deal for you. Creating a future road map and acting proactively now, saves making a difficult situation worse. You’re better able to position yourself to get the maximum out of your investment if you plan ahead. Here are five circumstances that benefit from planning and preparing in order to provide:
1. Your life can change very quickly after having a tough conversation with your doctor. Unexpected diseases or accidents can come out of nowhere and dramatically alter your life. You may need extra cash to foot upcoming medical bills or take the place of lost income. When that happens, a broker can help review your CRE investments.
2. After an unexpected death, multiple families have asked me, “What do we do with the property?” They may or may not understand current leases, what the property is worth, or how it’s managed. This leaves room for some spouses and heirs to unload properties below the market rate, just because they’re not in the know. You don’t want that to be your family. Talk to a trusted broker––someone who knows the CRE business, current market, and property management.
3. When the Vescio family decided it was time to fully retire and sell the building in Dinkytown, they went to someone they trusted. It was a very hard decision, as the business had been in the family for generations. If you think this might be your family, be strategic and work with someone who knows the market well. It may make sense to sell the building early through a sale and lease back deal. Keeping an eye on market trends and acting accordingly, works in your favor. That means you can better enjoy your retirement.
4. Sometimes we face huge life changes. Whether a divorce, a professional move, or uprooting to a different state or country, your overall circumstances may change. That means where and how you invest may change. Whether it’s to split assets or cash in on equity, work with a broker that knows your history to expedite your deal. Having a plan doesn’t mean you will have to act on it, but it sure helps when you need it.
5. I’ve worked with clients that want to make a different investment choice. An in the know broker and your financial advisor can suggest the right time to hold or sell. There are a lot of moving parts in a CRE deal, so having a team you trust in place makes the process much easier.
Our CEG team is sensitive to difficult situations in life––we’ve all been through them. With years of experience as a broker, investor, and property manager, I’m able to zoom up and see a “space-eye” view of a plan to secure your best financial future. We’re here to help, so reach out to our team today if you have any questions. Or you can find me at 612-788-1552 or jeff@cegspaces.com.
Jeff Salzbrun is the managing partner of Commercial Equities Group (CEG). As a veteran-owned real estate brokerage, CEG has been involved in thousands of sale and lease transactions, ranging from single offices to 250,000+ square foot buildings. At CEG, we get your deal done. We know space, and we know the CRE business.
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