The best way to start investing in commercial real estate
The steady flow of business is the lifeblood of the commercial real estate investor.
Most of you will spend time building your team, taking classes, reading books, raising private money, talking to banks, or telling your friends how great life is going to be once you buy your first investment property. You are preparing to invest. It is exciting.
This is the bad news, no business flow, you won’t invest and your friends will ask you what happened to your big plans. Don’t feel bad, most commercial real estate investors complain that they need more business flow and also have to answer to their friends. They tend to get together and talk about how bad the market is, why brokers are useless, and that the right deal that makes sense will come along one of these days.
Don’t make this mistake, you need to start by finding the deal, which means taking action today.
Imagine that you are flying over your target market with a parachute on your back. You jump out of the plane, float to the ground, land, and are told you have 30 days to purchase 3 commercial real estate.
What is the first thing you should do? Start by finding the deal.
Here is a trick to access the instant offer stream. Contact people who want to sell their properties because they have a problem to solve: divorce, retirement, death of a partner, medical problems, family problems, they are exhausted with the administration or they have to sell to buy a bigger property. I have identified.
Many of these owners have already tried to sell, but have failed. Your property was mismarketed or overpriced. They have become sellers or expired listings.
Get a list of expired listings from your local multiple listing service. Get the owner’s contact information and give them a call to see if they are still interested in selling their property. Send them letters telling them that you are an investor who must buy 3 properties in the next 30 days. You need their help!
Call area realtors and ask them which properties are due soon because you’re buying property and want to make sure they get paid for their hard work.
Once you have a list of opportunities, meet with the owners, negotiate purchase and sale agreements, and lock in the 3 buildings that fit your investment criteria. Now that you have 3 deals that everyone else is looking for, start networking, advertise, build your team, talk to lenders, call brokers to let everyone know you have 3 money making commercial real estate investment opportunities available .
You are looking for partners, private financing or other investors who want to pay you a fee for your purchase agreement. If your offers are “real”, word will spread quickly.
And if your deals “make sense,” you’ll have investors clamoring to participate in or pay you for your deals.
Remember, you control 3 deals to make money they want.
Now it’s up to you to make the deals, learn and profit from your actions.
