We've all heard it. So many times. Especially on the news: "Location, location, location!" It's to the point where even Realtors, who should and probably do know better, are using it in their advertising when a property's main selling feature is its location. But like most things in life, it's just not that simple. There is a lot more to a property's value than its location. In Nanaimo, for example, it's not unusual to see a home next to another that is 100k higher or lower.
This "Location, location, location." quote is originally attributed to a fellow by the name of William Dillard. This was his response to the question of how he made his fortune in what was recently considered the third largest chain of department stores in the U.S. He started with $3,000 of profit from selling his first location and passed away in 2002 with a fortune of $8.7 billion. Should we take what this man has to say about business seriously? Absolutely!
Except... it's not real estate investing advice per se. If you're opening a retail business of some kind, "Location, location location." definitely is a huge concern, but when buying a home or most kinds of investment properties, this is just one of various very important factors.
Sure, you can buy a place as a holding property because the location is such that the density is increasing in the area, there is clearly some gentrification going on or because it's the last place in the area with a really good view. But there are other factors that are at least as important. How big is the property inside and out? How many beds and baths does it have? How old is it? Will it need a lot of expensive things fixed/maintained over the next few years? What if you find out that there is an old buried oil tank on the property, that it has a lot of faulty wiring, or extensive mould problems throughout? What if it had a grow up in it until just last month?
Now here's the kicker, what if you can barely afford the property and you find out that any of the serious issues above are true? Are you still going to buy the property because it has a great location? That's flirting with bankruptcy in my eyes.
Thursday, November 15, 2012
Setting Up a Modular Office Building
When it comes to setting up the perfect office, there are a wide range of things that should be considered very carefully. Some businesses like to establish modular or portable offices that have structures designed to be portable. This is made so that in the event that the office needs to be relocated, it can be done without having to sell the building and then buy a new one in some other area. Finding the right modular office can take time, but you can be sure that with the help of a well established office design company you will be able to create an attractive office space that will please you thoroughly.
One of the most important things that might be on your mind when you are searching for office design companies is the way the office will be designed. You will likely want to have a spacious office that provides plenty of freedom to move around in, although if the office is too big you might not feel comfortable. There are certainly a lot of office designs out there to choose from so the first thing you need to do is find an office design company.
Once you find such a company it is simply a matter of taking the time to have a look at the different designs they have available. Most of the companies that deal with office design are also able to build commercial building units so if you are a small business looking to get set up then you may be able to find these commercial building design services as well. A good office design will look remarkably attractive and will say a lot about your business. It is like your face to the world, and as such you will want to do everything you can to make either your office or building design look just right.
If you are not too happy with the office designs tat you find on the company portfolio, don't run away. You should also know that it is fully possible to have a custom office design built for you; if there is a special design that you have in mind just take the time to let your needs be known to the office design company. Chances are they will be more than happy to work out an arrangement with you.
The last thing you will want to consider carefully as you are out there trying to set up an office is how much you are going to be paying for the design, construction, and installation of the unit. You may be on a somewhat tight budget and if this is the case then you will likely want to do everything you can to ensure that you keep expenses at a minimum. At the same time, keeping things too cheap is probably not something you will want to do either. The ideal would be to find a price range somewhere in the middle, so you can get a reasonably attractive looking office that won't cost you too much.
One of the most important things that might be on your mind when you are searching for office design companies is the way the office will be designed. You will likely want to have a spacious office that provides plenty of freedom to move around in, although if the office is too big you might not feel comfortable. There are certainly a lot of office designs out there to choose from so the first thing you need to do is find an office design company.
Once you find such a company it is simply a matter of taking the time to have a look at the different designs they have available. Most of the companies that deal with office design are also able to build commercial building units so if you are a small business looking to get set up then you may be able to find these commercial building design services as well. A good office design will look remarkably attractive and will say a lot about your business. It is like your face to the world, and as such you will want to do everything you can to make either your office or building design look just right.
If you are not too happy with the office designs tat you find on the company portfolio, don't run away. You should also know that it is fully possible to have a custom office design built for you; if there is a special design that you have in mind just take the time to let your needs be known to the office design company. Chances are they will be more than happy to work out an arrangement with you.
The last thing you will want to consider carefully as you are out there trying to set up an office is how much you are going to be paying for the design, construction, and installation of the unit. You may be on a somewhat tight budget and if this is the case then you will likely want to do everything you can to ensure that you keep expenses at a minimum. At the same time, keeping things too cheap is probably not something you will want to do either. The ideal would be to find a price range somewhere in the middle, so you can get a reasonably attractive looking office that won't cost you too much.
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