Real estate has always been a good investment, but some factors in today's market make it irresistible. Over the last few years, fast-growing entrepreneurs have found the commercial real estate market to be an investment feast ready to be gobbled up.
According to David Hirschman, president
"Although they have been hesitant for years, in recent times savvy investors have come back to real estate as a sound investment," said Hirschman. Today's entrepreneurs are looking for more diversified investments and are utilizing multiple options. The volatile fluctuations in the stock market are becoming increasingly risky for many investors, so they are diversifying with some "tried and true' investments, including real estate. With inflation levels climbing again and tax shelter investments no longer an option, investors have sought out good real estate investments and strong real estate services to back them.
In the past two years, Hirschman's company has served as the backbone for many of these transactions. The company sold six office buildings in Northern New Jersey in various sizes totaling over 180,000 square feet, with a total sales value of $15 million. One of the common threads among these deals is that they were all sold to entrepreneurs, people eager to invest in the real estate market. Most of the buildings had vacancies and needed some degree of renovation and construction.
According to Hirschman, people purchase real estate for many reasons, but some of the reasons these buyers bought through David Hirschman Realty Co. Inc. or GB Snyder Realty LLC included the faith they had in his organization to make a fair deal, supervise the improvements, lease the space and manage the building.
One example of this was a building in Wayne, NJ at the crossroad of many major New Jersey highways that was 30 percent vacant and needed a new roof, window replacements, new lobbies on every floor and outside renovations. Hirschman Realty Services made the major building renovations and took it a step further by adding 10 percent more parking spaces to the property. The extra effort helped complete the deal by adding value to the property and creating a "win-win" situation for all involved.
For real estate investors, working with a company that offers a full range of brokerage, consulting and property management services can actually save them money.