Commercial real estate in Boise is about far more than aesthetics. A property might appeal to your senses, but it\u2019s important to remember that real estate investing is a business. That means you should be paying careful attention to the main elements of the deal: the terms and the return on investment. Buying a property based upon aesthetics alone, or your \u201cgut instinct\u201d is a sure way to get underwater, and quickly.<\/p>\n
You need to develop a business plan which outlines realistic goals over the one, three, five, and ten year marks. There are many resources for developing a plan for your real estate investment business, but mentorship is likely the best option\u2014learn from someone who has already made the mistakes.<\/p>\n
There is an old saying in real estate: a rental property yielding 1% its sale price per month is a good deal (I.E. if a property cost you $300,000 you should try get $3000 per month, in rent, or about 12% annual yield.) Learning and internalizing adages such as this (that you\u2019ll likely learn from a mentor figure) will help you internalize many of the lessons you will learn (hopefully not first hand).<\/p>\n
So, to get you in the right mindset about making commercial real estate investments in Boise, we\u2019ve prepared a list of 10 considerations as you move forward into life as a commercial real estate investor.<\/p>\n