Whether it’s your “forever” home or you’re looking for an investment opportunity that pays back in returns, making smart use of your money is of primary concern. No matter whether you’re buying a residential property, a rental property, a shopping center, or an office building, you want to pay as little as possible upfront. Regardless of the size or budget, Adam Hochfelder handles property acquisition with a unique investment-minded approach, tailored to add value and support long-term growth.
This real estate businessman and investor have decades of experience in overseeing commercial and residential real estate developers, property owners, construction contractors, real estate brokers, and property managers with respect to residential, commercial and mixed-use real estate transactions. Hence, he has helped many clients through the American real estate investment process.
As he explains, acquiring property is the first step of the real estate development process. In this article, Adam Hochfelder shares the knowledge and skills needed to acquire the property with attractive price and terms, add value by successfully completing critical tasks, and sell the improved property to a willing buyer.
As an investor, what you pay for the property is only a part of the bigger picture. The return you get on your investment is of greater importance and finding just the right piece of property is crucial when it comes to making the best possible investment. So, acquiring a commercial property is a multi-step process that goes well beyond negotiating a purchase price and signing a sales agreement.
Hochfelder is a huge proponent of networking, as that has been his main source of deals for most of the properties he has purchased. It is the acquisition strategy that he primarily uses and it has yielded the greatest return compared to everything else he has tried so far. Networking with are investor-friendly real estate agents and reliable wholesalers bring in the most leverage for finding deals. These are the people who understand the benefit of being in a relationship with investors and have ongoing work with them.
Learning how to network effectively is a must if you work in real estate. After all, networking is fundamental to the success of any real estate business. As a real estate developer, you are only as good as the people who surround you. In addition to professionals with whom Adam Hochfelder works and collaborates internally, he also relies on relationships he has built with individuals and firms in his community.