Harrell, Stoebner & Russell, P.C.
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Offices Located In Temple And Killeen
Call To Schedule A Consultation: 254-935-3036

You can still succeed with real estate investments

It used to be that purchasing real estate meant having a solid and reliable investment. Commercial real estate is a great way to balance your portfolio and earn a passive income. Unfortunately, recent events may have you nervous about making such an investment.

If you have followed the news, you may be concerned that the latest government shutdown, rising rates of interest and the instability in Europe, among other factors, may make investing in real estate less profitable. Additionally, commercial real estate is experiencing a new challenge with the explosion of online shopping options. Nevertheless, you can take steps to keep up with the many challenges and changes in the market.

Staying in the game while the rules change

Your first step toward making your Texas commercial investment profitable is to find tenants. To ensure a steady income, you may hope to find a tenant that is in it for the long haul. However, with the fluctuation in the market, this is not always possible. Instead, you can entice tenants with attractive short-term leases that will fill the spaces and provide immediate income. Other suggestions for remaining relevant in this uncertain real estate market include the following:

  • Increase your property's visibility by offering small vacancies at no cost to start-ups, companies in need of training space or businesses looking for shared office space.
  • Seek alternate sources for acquiring loans since banks tend to merge and change their focuses during difficult economic times.
  • Find and solidify relationships with those who can be a source of capital and support.
  • Protect yourself against downturns in specific sectors by diversifying your investments in a variety of properties, such as self-storage, manufactured housing, retail and office space, to name a few.
  • Be ready to adapt and re-evaluate frequently, both in your way of thinking about real estate and in your use of the properties you own.

Your flexibility in a changing real estate market can allow you to adjust to changes without losing your footing. You may find that your skills in the ownership of one sector may transfer handily to other sectors, allowing you to create a buffer against risk if one sector suffers. For example, as online shopping grows in popularity, fewer retail owners use brick-and-mortar properties. Your ability to think outside the box can help you put those properties to profitable use.

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Harrell, Stoebner & Russell, P.C. Attorneys at Law

Temple Office
2106 Bird Creek Drive
Temple, TX 76502

Phone: 254-935-3036
Fax: 254-771-2082
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Killeen Office
2210 E. Central Texas Expy.
Suite 102
Killeen, Texas 76543

Phone: 254-432-7058
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Representation For Clients Throughout Central Texas