Before getting started in commercial real estate, there are several questions you should ask yourself.
- Why commercial real estate?
- What do you bring to commercial real estate?
- How much desire do you have to be in commercial real estate?
- Where geographically do you want to be doing deals?
After asking these questions, there are several other important details to consider that you're about to discover in the following video on getting started in commercial real estate:
Here's a summary of what you learned of the video above:
Getting started in Commercial Real Estate
- Ask yourself the why the what the how and the where in getting started in commercial real estate
- Why do you want to invest in commercial real estate? When the why is powerful the how becomes not so difficult the how becomes very clear.
- What do you bring to the table?
- What cash can your bring to commercial real estate investing?
- You don’t need a lot but you need some for expenses such as appraisals expenses, and travel.
- How much desire do you have?
- Anything that you pursue that is great and worthy in life, is going to have obstacles.
- To come out successful you are going to have to have desire.
- If you have a strong desire it will outdo any talents or gifts when it comes to commercial real estate.
- The question is, " Where should you invest?"
- Invest in your own backyard first.
- Begin in your own city so that you can qualify or disqualify your own area first.
- It is easier to become an expert if you are a local.
- If you want to go out of your area, that should be a last resort because it can be risky.
Basic Requirements of getting started in Commercial Real Estate Investing (4:28)
- Get a basic understanding of commercial real estate
- bare minimum things you need
1) you need to have an understanding of what commercial real estate is
2) You need to be able to evaluate a simple commercial real estate deal
- There are two videos that discuss these topics
- Commercial Real Estate Investing for Dummies
- The 5 Best Commercial Real Estate Types for Individual Investors
- Must have internet access
- The world if flat, you can invest anywhere you'd like just by having a computer
- Setting up appointments and meetings
- Nothing fancy
- Use mortgage calculator online
- Calculated industries has real estate friendly focused calculators
- phone app calculator
- Anything that you go after there needs to be a focused amount of time on that endeavor
- 3-4 hours a week bare minimum
Things you do not need to get started: (7:41)
- A real estate license
fact it can be a liability
- You don’t have to start in residential real estate to jump to commercial real estate
They are two completely different investment types
- You do not need a Masters or MBA to understand everything about commercial real estate
- You need experience focus and desire
- You don’t need to be rich
- You need a little bit of money and a lot of desire
Check out Master Lease Agreement technique
- Two things the super wealthy have in common. The super wealthy are people that make a lot of money but also use it to do good.
- First trait: They all own commercial real estate
- Second Trait: They are all known for their integrity. They do the right thing even when it hurts.
How you do one thing is how you do everything. Always keep your integrity in tact