Understanding the commercial real estate market is crucial for making informed decisions about your investments and portfolio. With these three simple steps, discover how STRATAFOLIO can help you scale as you increase your commercial real estate growth.
If you’re involved in commercial real estate, you’ve probably noticed how much technology changes the industry. Real estate owners and property managers have begun to adopt solutions that enable them to work more quickly and efficiently.
But even today, many commercial real estate owners still rely on file cabinets and Excel spreadsheets to stay organized. Before we dive into how STRATAFOLIO helps you stay afloat in a world where competitors are increasingly getting leaner and more efficient, let’s talk about commercial real estate, making sure you’re ready if and when you decide to make that leap.
Understanding Commercial Real Estate Properties
Commercial real estate is any land or building where business is conducted. Generally, commercial properties are more profitable than residential properties. There is a catch, though: you must do more investigation before beginning. Yes, they can be more profitable, but there is more risk.
Some of the first steps you need to take are learning about the market, finding the right location, and securing the best financing.
Instead of buying a house, consider investing in commercial real estate, which can offer longer leases and higher rental income. That sounds good, right? Additionally, it provides an opportunity to invest in assets beyond stocks and bonds, thereby enabling greater diversification.
There are various types of commercial property. Let’s look at a few of the most popular ones you might be thinking about.
- Retail Properties are places like stores and malls where people sell their goods. They range from small diners in the middle of nowhere a few blocks away to huge shopping centers in the United States.
- Office buildings encompass a wide range, from tall skyscrapers in Midtown Manhattan to smaller medical office buildings in suburban areas. The office sector still offers great possibilities, despite facing numerous challenges as businesses implement work-from-home policies.
- Industrial facilities, such as factories, warehouses, and distribution areas, serve as locations for the production or storage of goods. As e-commerce has grown, there has been a steady demand for these types of assets, which could make them attractive investments.
- Multifamily Complexes are groups of apartment buildings that rent out their units to multiple people. However, apartment buildings are still one of the safer ways to invest in real estate.
Three Steps to Scaling a Commercial Real Estate Investing Business
With STRATAFOLIO, our tools are for commercial real estate owners, and they integrate with QuickBooks to streamline your workflows. Learn more about the best commercial property management software for commercial leases.
1. STRATAFOLIO makes collaboration and organization easy.
Firstly, when you use STRATAFOLIO to manage your commercial real estate company, you’ll have a centralized location for all your data. There is no need for paper files, external drives, or other storage methods. Not only does that help with organization, but it also provides a structure where everything is shareable and accessible to the relevant team members.
STRATAFOLIO subscriptions include unlimited users with different access levels to ensure the right users access only the appropriate data.
This structure helps your commercial real estate growth. Instead of tracking down information written on Post-it notes, whiteboards, or spreadsheets, you and your team can find it in the cloud anytime, anywhere. With built-in tools to help you share with investors and lenders, STRATAFOLIO can help you close deals and resolve issues more quickly, regardless of how much data you have.
2. It empowers you to spend time on what matters the most.
If you’re trying to scale your business, you would rather not spend much time on manual or repetitive tasks. STRATAFOLIO can help you automate time-consuming tasks. These may include common area maintenance (CAM) reconciliation, invoicing, lease escalations, ACH payments, or maintenance requests. Discover the financial implications of neglecting CAM reconciliation.
Additionally, it can send you automatic updates, giving you peace of mind that you won’t miss anything important. Consequently, you and your team will have more bandwidth to focus on advancing deals and growing your portfolio.
3. You’ll have access to data that helps you make better decisions for growth.
To scale your commercial real estate growth, you need to know what works and what doesn’t. You frequently need to make decisions that will impact your company’s future, which requires gathering and analyzing data. STRATAFOLIO connects directly to QuickBooks.
It provides you with tools to view your entire real estate portfolio’s finances, spot trends and patterns in your data, manage your assets comprehensively, and more. With STRATAFOLIO, you have valuable information to help you make important decisions at a moment’s notice. We are considered one of the best commercial property management software. To learn more about how we can help your commercial real estate business succeed, schedule a free 1:1 demo today!
