Sometimes the Only One Who Gets Paid is the Architect

Sometimes the Only One Who Gets Paid is the Architect

So, you’re interested in redeveloping a commercial building?  You want to buy a vacant property, rehab it, tenant it and then start collecting rent.  That process is called “adding value” and it’s awesome.  Congratulations!  It’s one of the most fulfilling experiences in commercial real estate investing.

Or maybe you want to go all out and develop a project.  You want to buy a piece of land and construct a new building for a prospective tenant.  Again, congratulations.  It’s going to be a challenging experience, but in the end, you’ll have done something only a few will ever accomplish.

Perhaps neither of those options is your path, and what you want to do is purchase a building with an existing tenant.  That way you can start collecting rent immediately.  Once more, hearty congratulations are due.  Welcome to the club!

As you start your journey in commercial real estate and move through the process, you need to remember one thing.  If you can understand this concept and accept it (you don’t have to like it), you’ll be one step closer to being a commercial real estate investor and/or developer:  sometimes the only one who gets paid is the architect.

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How About a Nice Cup of Joe?

How About a Nice Cup of Joe?

Spokane, like most cities in Washington State, loves its coffee.  To look at the amount of java business done in this town, you’d think it’s almost as important as air or water. 

In late 2011, while driving on Ray Street, I noticed the logo for a check cashing business had been reversed on its pylon sign.  I immediately pulled into the parking lot to discover the business had recently closed.  There was no “for sale / for lease” sign on the property.

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