Many first-time commercial real estate owners/landlords get into the business with the hope of building equity and generating relatively passive income. The good news: that outcome is entirely possible. But it’s important to understand that it won’t necessarily happen quickly, nor without lots of careful planning and hard work.

The truth is that owning and managing commercial real estate is a big responsibility and requires significant commitment and investment. Serving tenants, growing the value of a building, mitigating risks, and having long-term success as an investor and landlord is a long-term process. It’s critical to know what you’re getting into, and to take the appropriate steps to help ensure success, rather than engaging in a trial-by-fire approach that costs you time and money.