BiggerPockets Podcast 333: A Guide to Getting Started in Commercial Real Estate (+ Laundromats?!) With Ken Wimberly

by | BiggerPockets.com

Commercial real estate like you’ve never heard it before!  On today’s episode, Brandon and David sit down with Ken Wimberly, the owner of a Keller Williams commercial brokerage and a commercial investor himself.

Ken shares some incredible tips on how to get into owning commercial property, including how to find quality tenants, how to structure the lease, and how to protect yourself from a changing market. He also provides great advice on building relationships and identifying who NOT to partner with.

Ken goes on to talk about how he went from working in a pizza restaurant to cashing his first check for 50K as a broker—with absolutely no training program! He shares some incredible advice for opening a laundromat, making huge returns, and successfully investing in other people’s deals, too.

If you’ve ever been interested in how to do big deals without big headaches, this episode is for you!

Click here to listen on iTunes.

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In This Episode We Cover:

  • How he builds relationships
  • How he learned the commercial business sitting across from a mentor and listening
  • How he buys laundromats
  • Investing in commercial spaces
  • Using OPM to buy land and selling a 5K investment for 150K 
  • How he earned a commission of 50K on a deal he couldn’t do
  • How he chooses his business partners
  • His morning routine
  • What to look for in a potential partner to disqualify them
  • How newbies should start off investing in commercial property
  • How to balance investing with family time
  • How he structures deals
  • Tips on owning a business inside your commercial building
  • How he invests in other people’s deals
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “No matter how smart the potential partner, it’s still better to find someone with a growth mindset.” (Tweet This!)
  • “Integrity is the foundation of any partnership.” (Tweet This!)
  • “Own a small percentage of a lot of deals because they add up.” (Tweet This!)
  • “Walk away from things that seem too good to be true.” (Tweet This!)
  • “Saying no is a very important thing.” (Tweet This!)
  • “You can create something out of nothing.” (Tweet This!)

Connect with Ken

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners -- without the non-stop pitch prevalent around the industry. With over 180,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

2 Comments

  1. Chad New

    Great show guys. It is nice to hear someone successful admit they got burned in the life settlement investment. I have been kicking myself for years for making such a blunder. Would it be possible add the white paper Ken spoke of to the episode page? I just started to listen to you guys as I am five years away from retiring from law enforcement and am educating myself for the next chapter in my life, Real Estate.

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