If you want to roll the dice, go to Vegas. If you want to profit from your commercial real estate investment, routinely assess your risk and act accordingly.
Any real estate investment has inherent risk. What separates the winners from the losers is the discipline required to keep abreast of the real estate market, assess the external factors that could put your investment at risk, and take steps to mitigate those risks as needed.
If you are a full-time real estate investor, these assessments are a normal part of your day-to-day responsibilities. But if you are a business owner and your only real estate investment is the office or warehouse space in which you operate, finding the time to assess your risk may sound like a daunting task. And it is easy to become complacent about your work space when the bulk of your attention is on sales, staffing, operations and profitability.
Risk thrives on complacency and is kept in check with regular assessments. There is no rule of thumb on how often you should assess your commercial property. The timing of an assessment is dictated more by the changing conditions in the economic market and how these conditions might impact real estate.
Five Steps to Assessing Risk
Passenger Rail Study Offers New Details About Proposed Wilmington To Raleigh Route
Emma Dill
-
Apr 22, 2024
|
|
Severe Weather Postpones Trump Rally In Wilmington
Emma Dill
-
Apr 20, 2024
|
|
Will NC Be CNBC's Three-time Top State For Business?
Audrey Elsberry
-
Apr 22, 2024
|
Lydia Thomas, program manager for the Center for Innovation and Entrepreneurship at UNCW, shares her top info and tech picks....
With millions in committed funding from New Hanover County and the New Hanover Community Endowment, along with a land donation from the city...
W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.