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Commercial Real
Estate for The Beginning Investor
Tony Seruga
Commercial real
estate has been reserved for the financial and investment savvy
entrepreneur, those who have an “in” through a strong mentor, and those
who for some reason, just figure it out for themselves and become wildly
successful from nothing.
Commercial real estate is absolutely available to those who seek it out.
I am going to assume you have a deep desire to become wealthy and live
the lifestyle of a successful entrepreneur. Despite what many people
think, commercial real estate does not require perfect personal credit,
a multi-million dollar bank account (although it definitely helps),
financial expertise or investment savvy strategies. There are people to
cover every task for you- it is a matter of learning everything you
possibly can about the industry and coordinating the right people to
work for you. In order to be the commercial real estate investor you
dream about, it takes getting the right information from the right
people.
Commercial real estate investing can be done by even the most average
and non-average of people- a little motivation and willingness to learn,
and you can easily be on your way to being a very successful, profitable
commercial real estate investor.
The first step in being a successful commercial real estate investor is
to get to know your community. That’s right, your own back yard. You
need to know the buildings, how much they are worth, and who owns them.
It is time to become a detective and identify trends or patterns within
your local market. There may be specific apartments that are being
poorly managed and are about to go into foreclosure, or a new mall in
the development plan about three years from now and purchasing the 100
acres around the future building site at the very inexpensive price of
$15,000 per acre is going to be worth over $200,000 per acre once the
mall goes under construction.
Attend your local planning and zoning meetings, investing meetings, and
chamber of commerce. Make your presence slowly by watching and seeking
out the noticeable successful investors and decision makers within your
community. What do they do? What have they been responsible for? You
will also begin to understand the value of properties in your community,
where certain properties are beginning to decrease in value due to poor
management and outdated amenities, as well as what opportunities you may
take advantage of in the future.
The second tip is to read, read and read on everything commercial real
estate. You need to understand the industry inside and out to truly be
successful. Have a certain type of property you enjoy, such as
apartments or office parks? Then focus in a certain area. How about a
specific strategy such as purchasing foreclosure, bankruptcy or
declining properties and adding extreme value to the bottom line? Or
perhaps you are interested in simply holding properties and then selling
when the market demands the ultimate price. The more you know, the more
successful you can become.
The last and most effective tip I am going to give you today is to seek
out a successful commercial real estate investor whom you can study,
model after and even adopt as a mentor.
Who do you notice in your community that is always ahead of the
commercial real estate game? Repeatedly purchasing properties and
creating value within the community. Ask these people for advice- but
always come prepared. Schedule a meeting or a nice dinner or lunch
meeting. Always thank them for their time and send a thank-you gift
explaining how the information helped you and that you look forward to
their next meeting. Offer to help in any way you possibly can- simply
for the education.
I think you would be surprised how many people would be willing to teach
you the ropes for a helping hand. Always listen and approach the
situation as a learner- not an expert. Never step on their toes and take
in the experience. Watch for details, specific strategies and eventually
you too will be one of the big players in the industry.
Have a passion for success? A desire for wealth? Feel the need to give
back and create good environments for those people? Then listen and
learn. There is nothing the successful commercial real estate investors
are doing that you cannot do too. Believe this and really get to know
the industry. You will find yourself completely successful just by
following the people before you and the strategies they use. Rely on
professionals to cover areas that you need assistance in and do not let
obstacles stop you from achieving your dreams.
About the Author:
Tony Seruga, Yolanda Seruga and Yolanda Bishop of
www.maverickrei.com specialize in commercial and investment real
estate. As of May, 2006, they and their partners are managing over $600
million dollars worth of new projects.
Article Source:
www.iSnare.com
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