CALL US TODAY 630-780-1034

Shorewood Commercial Real Estate Lawyer: Real Estate Tips for Buying Multi-Unit Apartments

 Posted on February 01, 2023 in Real Estate

yorkville real estate lawyerShorewood Commercial Real Estate Attorney Serving Buyers and Sellers of Commercial Real Estate Properties in Shorewood, Joliet, and Plainfield

Investing in large apartment buildings requires precision and patience. Investing in multi-unit apartment buildings requires an experienced group of business and legal advisors. We will discuss real estate tips for purchasing and selling multi-unit apartment complexes.

A. Researching the Market is Important

Multi-unit real estate investing requires market research to lower one's risk profile. A significant goal of a commercial real estate investor is quality tenants and low occupancy rates. Negative cash flow creates unnecessary risks, which cause substantial financial strife. Negative cash flow occurs when one's expenses exceed their revenue. Your research methods should include the following:

  • Economic Research. Research economic and job trends, including whether the area is stable or upcoming.

  • Population Growth. Population growth means higher demand and an increase in property appreciation.

  • Demographic Makeup. A commercial real estate investor should evaluate whether they want a commercial office building or a multi-unit apartment complex involving residential families.

  • Strong Tenant Profile. Savvy commercial investors want solid tenants with a good credit profile. Tenants that pay their rent on time and maintain their units in a clean manner are also important. 

  • Type of Investment Property. Are you purchasing an underperforming building or a building with high-quality tenants and a low occupancy rate? 

Community research is essential before purchasing a multi-unit building or complex. Research and preparation are critical when you are purchasing a multi-unit apartment building.

B. Work with The Right Real Estate Professionals

Commercial building owners must surround themselves with a solid team of real estate professionals, including the following:

  • Property Management Team and Managers

  • Commercial Real Estate Brokers

  • Commercial Real Estate Attorneys

  • Maintenance Staff (not managed by the Property Management Team)

  • Banking and Financing Professionals

Commercial real estate professionals must be attentive and experienced. Experienced real estate professionals will provide invaluable insight and give reliable business advise. Commercial real estate lawyers can also provide significant tax and legal planning advice to help commercial property owners. Real estate transactions involve a substantial degree of tax, real estate, and business law, including the following:

  • 1031 Exchange or 1031 Like-Kind Exchanges. The potential to defer capital gains taxes is a significant tax consideration for commercial property owners.

  • Capital Gains Tax. Long-Term Capital Gains are taxes that occur when the commercial property has appreciated.

  • We are buying and Selling Commercial Real Estate. We will review and draft commercial real estate leases and assist with financing considerations, including seller financing.

  • Commercial Landlord and Tenant Matters. Our attorneys and staff represent buyers and sellers in commercial real estate transactions, including minimizing losses by commercial evictions. Gateville Law Firm owns Landlord Evictions, LLC, representing commercial property owners in eviction proceedings. 

  • Business Structure Planning. We assist with business structure and joint venture agreements. In addition, we regularly structure real estate holdings to minimize liability concerns by placing business assets beyond the reach of creditor concerns.

  • Estate Planning and Asset Protection. We assist commercial property and building owners in combining their estate planning and asset protection goals with their business and real estate transaction goals.

  • Tax Planning. We assist commercial business owners with business and personal tax planning tips to minimize business and individual taxation, including capital gains and income taxes.

  • Strong Real Estate Transaction Team. Our attorneys and support staff have over 50 years of commercial and residential real estate experience. In addition, our support staff used to work with reputable title companies, where they gained significant experience in real estate transactions and risk management strategies.

Will County Commercial Real Estate Lawyer for the Sale and Purchase of Multi-Unit Apartment Buildings

Gateville Law Firm has the experience and depth of expertise required to represent owners of multi-unit apartment buildings with their commercial transactions. In addition, our real estate attorneys and staff have a unique blend of creativity and experience in real estate: business, asset protection, and landlord-tenant law. The unique combination of expertise is crucial for prospective owners of multi-unit apartment buildings owners or owners looking to sell off their multi-unit apartment buildings. Contact Gateville Law Firm today at 630-864-5788 or by filling out the online contact form.

Share this post:
badge badge badge badge badge

Contact Us Today

Call 630-780-1034 or fill out the form below to set up a free consultation today:

NOTE: Fields with a * indicate a required field.
Name *
Phone *
Email *
Message *

DisclaimerThe use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

I have read and understand the Disclaimer and Privacy Policy.

Back to Top