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Success Plan for New Commercial Real Estate Broker or Investors

Saturday, April 02

Are you starting out new in the area of commercial real estate sales or in need of a investment plan for commercial real estate investing?

We are fortunate to have gained permission from the "Emerald Institute" for Personal & Professional Achievement to provide you with a success outline from their "Commercial Real Estate Advisor CREA(R) professional designation program.

The outline covers a five month period starting from plan development through a real estate closing..

Manay of the points in the outlinecan be successfully implemented by real estate investors who specialize in commercial real estate.

Outline

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CWLSR

Circle of Winners

 

Tagged as: success, brokers, estate, real, investors, commercial, florida, outline, plan


I am back and ready to get started

Thursday, March 10

I have been away for a while and I'm ready to assist anyone who would like to learn the ends and outs of the commercial real estate business.

I will holding regular online sessions discussing the real estate business and exchanging ideas with those who attend.

We will be using the Emerald Conference Center for our discussion groups. The sessions are free are open to everyone who would like to attend.

You will need a camara/microphone to get the greates benefit from the session if you would like to speak to the group. If you do not have a camara/microphone you will be able to instant message to the group.

These sessions will be on the first and third thursday each month at 7:30 eastern stardard time to try to accomodate attendees on the west coast.

Should you like to participate please send me an email and I will have a link sent to you slong with instructions in how to enter the conference center.

I look forward to speaking with you should you decide to attend.

My special guest will be Jere Gault who has at present 42 commercial lstings and just made another sale this week. Be sure to attend and learn how he is doing it.

Curtis William Lee CREA
863-860-7182

 

Tagged as: estate, real, commercial, discussion, online, session


Prequalifying a Income Producing Property

Monday, July 13

As investors after the thrill of seeing a property and you have come back down to earth then it is time to kick the tires. Many an inexperience investor has had buyer’s remorse and wish they had done their due diligence (due diligence another post) before purchasing a property.

We don’t have the space or time to go into prequalifying an income producing property properly here but I will try to give you an overview of the process.

First as always before you start looking for a property you must have a plan which sets limits as to:

·         What you are willing to invest in (Type of Property)?

·         How much you are willing to invest (Cash Available)?

·         How long you plan to keep the property (Time Horizon)?

·         Can you finance it or get it finance?

·         Who will finance it? (Bank or Hard Money)

·         What are the numbers that will fit my objectives (What’s my expected return on my investment)?

·         Are you willing to improve a property and if so what is my investment limit?

Once you have answered these questions then stick to them.

Since your plan is to purchase an income producing property then it is important to get actual numbers the same as if you were going to finance the property. Why do I say this? Because the lender is going to want to see actual numbers that can be verified by records that the sellers has.

If the seller can’t produce the needed documents then I have always found it is better to walk away with my wallet intact than be sorry with buyer’s remorse.

In later post I will go through the number process of prequalifying a income producing property since each type of property is qualified differently.

Remember! Success is achieved by those try and keep trying and where there is nothing to lose by trying by all means keep trying.

Curtis William Lee, Sr.
Mentor
Circle of Winners Master Mind Group

For more information go to www.cwlsr.com 

Or email me at cwlsr@cwlsr@cwlsr.com

 

Tagged as: prequalifying-income-producing-property, income, property, investment, mentor, circle-of-winners, master, mind, group


Marketing Real Estate - Investor and Real Estate Professional

Friday, July 10

Marketing and how it is done has been one greatest question investors and real estate professionals have pondered upon and in the end still wonder about. Those who have tried to study the subject can still remain confused because so much has been written about it.

 

Like any business decision you should always start with a plan as in this case a marketing plan.

 

The Guru and Coach will more than likely tell you that there is strategic marketing and a tactical marketing. I will agree with them in this respect that you have to understand the concept but you will need real help in implementing them properly. The reason I say this is that markets are constantly changing. In the past marketers used regular mail sending letters and post cards. The generational changes that are taking place with the internet and programs like social networking will not work with younger generations.

 

As mentor I am weekly checking out new methods of marketing which will benefit the members of the Circle of Winners Master Mind Group.

 

In some ways marketing real estate is the same for both the investor and real estate professional in that they are both looking for either a buyer, seller or leasing tenant. However how you go about doing it is a completely different matter.

 

For more information about marketing go to www.cwlsr.com and the "Ask a question” tab and I will be glad to answer your questions.

 

Curtis William Lee, Sr.
Mentor
Circle of Winners Master Mind Group

Tagged as: marketing, real-estate, commercial-real-estate, mentor, real-estate-investor, investor, coach, real-estate-marketing, how-do-i-market-my-property


A Investor's or Real Estate Professional's Database Management System

Thursday, July 09

Every successful investor has what is called a data management system. The system can be as small as Quicken® or Quickbooks® which will track your expenses and income.

 

There are other programs that can be added to a contact management system which will give you the flexibility to integrate with Quickbooks and are usually used for email and contact information such as Microsoft Outlook with Small Business®.

 

For the small investor this is usually sufficient to manage a relative small number of properties with a small number of tenants.

 

For the investor who has a large number of tenants such as multifamily properties should look for a CRM property management system which includes accounting, billing and different forms of communications. (I will address Risk Management at a later date)

 

If you are a real estate professional and are planning on setting up a data management system there are some first steps that are important to take.

 

  1. Take time to set up a plan for your desired data fields and how you will use the contact data in marketing.
  2. Look at protecting your contact and prospect data,
  3. Categorize your data in order to make its use easier and your daily activity planning more successful.

 

A selection or poor design as well as setup can result ina real estate contact that will at best be minimally helpful and, at worst, fails completely with loss of all your contact data.

 

At the Emerald Companies we did a lot research and had broader parameters before making a decision,

 

To find out more go to the Circle of Winners Master Mind Group.

Curtis William Lee, Sr. 
cwlsr@cwlsr.com

Tagged as: database-management-system, circle-of-winners-master-mind-group, real-estate-investors, real-estate-agents, real-estate-professionals


Guru, Coach or Mentor - Who can write the business Plan best

Tuesday, July 07

As a mentor  and venture capitalist I require every business that I invest in to have a comprehensive business plan.

 There a many types of business plans and how they are structured are determined by their purpose and use. For example if you plan to borrow money the lender expects to know what your plans are and how you are going to pay them back.

 Today I want to address two types of plans which can directly impact the real estate investor or real estate professional.

 A plan is like a journey and is ever evolving and must be updated on a regular basis. Since you are going in business or already in business here are the standard questions you should ask yourself.

 Plan I

  1. Who     (Who is going to be responsible for the business)
  2. What    (What business am I really in?)
  3. When   (Is this part time or full time?)
  4. Where  (Location, location, location)
  5. How     (How much do you understand the “What question?” How do I gain more knowledge?)
  6. How Much. (How much money am I willing to risk? How much time is it going take?)

These are the basic questions every entrepreneur should take several days to ponder before attempting to create a business plan (Road map for success).

 There is an old adage that has been around ever since I can remember.”No one ever plans to fail but fails because they fail to plan.”

 Plan II

 A good plan should have a minimum of following elements:

Executive Summary

  • Your objectives

Keys to your success

Company Summary

  • Ownership
  • Start-up summary

Types of property

  • Property description

Target market area

Market

  • Availability
  • Trends

Investment objectives

Management Summary

  • Management team
  • Job descriptionFinancial Plan

 

The business plan just described is not a complete business plan and is shown only to give you an idea of what one may look like.

 Should you desire to create a personal business plan and would like assistance.  Go to Circle ofWinners Master Mind Group or email me at cwlsr@cwlsr.com

Tagged as: business-plan, mentor, guru, coach, circle-of-winners-crenewswire, real-estate-business-plan, how-do-i-do-a-business-plan


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Curtis William Lee, Sr.

Circle of Winners Master Mind Group
Real Estate Coach
Lakeland, Florida


Website: http://http//www.emeraldcsi.com
Phone: 863-860-7182
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