One of the most enjoyable parts of my working with real estate brokers, investors, and developers is showing them how to make a property or opportunity offer multiple possibilities. Doing so can increase the chances and/or the speed at which a deal gets to the closing table. It also helps me to get hired beyond the current mission.
I recently had a client who owned a business they were looking to expand and initially approached me for unbiased consulting about finding the most ideal space. They were not confined to a specific area, and knew they had multiple options to explore. Our initial discussions added the possibility for them to acquire a larger property than they needed and leasing space to drive monthly income. They clearly were not ready to engage a broker just yet because they needed to narrow down which locations to research.
Some investors or potential buyers would stop there. They would begin plotting how much and what type of financing and considerations they will need for their real estate purchase, which is the next step. My team and I don’t stop there.
There is at least one more option beyond creating a proposal based on acquiring real estate to host a business and potentially leasing space for other businesses. One that came to mind was creating a business proposal to seek funding for expansion. Within the expansion proposal would be funds needed to acquire a property to house it, which in turn provides tax and other advantages for the owner.
The result is having a real estate proposal which includes a business AND a business proposal which includes real estate. Each way has separate merits and considerations, including the type(s) of funding and participation to make the project happen.
Being able to market separate proposals for the same real estate project significantly increased their chances of finding the source to make them “first in” on getting their deal done. Their options were not limited to only real estate funding or business funding when either were available through the best possible approach.
My client had not even thought about a multiple angle approach. Chances are it would have taken them a lot longer to identify potential locations and then be limited to one type of funding. They may have given up. Instead, they had two different avenues to pursue their dream. In the process, they wound up with solid contacts that might be good fits for their future expansion or endeavors.
It’s all part of having a highly experienced real estate research and marketing team on your side. My team and I are ready to make you and your team “first in” on your next success story!