Bernstein & Feldman, P.A.

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Real estate investment strategies for entrepreneurs

Successful entrepreneurs in Maryland and around the country are generally people of action who make decisions quickly when an opportunity presents itself. While behaving in this way can be fine when the consequences of a poor decision are relatively benign, people may wish to take a more prudent and pragmatic approach when entering the challenging and unpredictable world of real estate investment.

Running a business requires constant attention, and successful entrepreneurs are constantly on the lookout for untapped market segments and new income streams. However, real estate transactions are usually conducted at a more relaxed pace, and most of the work done by property investors involves research and due diligence. Business owners often see real estate as a sound and secure investment strategy, but success in property investment is based on sound and calculated decision making rather than seizing opportunities.

When real estate transactions are not properly researched, or investors listen to advice given by those with little or no prior experience, the results can be disastrous. Maintenance, repairs and upkeep costs can rapidly turn investments that seemed too good to be true into endless money pits, and entrepreneurs who see distressed properties as opportunities frequently fail to take these costs into consideration.

Attorneys with real estate experience may advise entrepreneurs to take a cautious approach when dealing with unfamiliar risks. Business owners are often optimistic and outgoing individuals, and it may be wise for them to solicit less passionate opinions before making important investment decisions. Attorneys could also recommend alternative forms of property investments, such as REITs, that provide many of the favorable features of property speculation while spreading the risks. Real estate attorneys could also provide assistance with loan transaction and closing documents, property management agreements and commercial leases.

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