Who Here Does Commercial?

13 Replies

I am seeking to network with people who are in commercial real estate.

Please leave a message on this tread.

Where you're located:

Where you're investing:

Why type? (multifamily, office, retail, land, hotel, industrial):

The Single BIGGEST Benefit You're Seeking from Networking:

Thanks so much!

Hi Christine,

Are you an investor yourself??

Please describe the intent behind your networking.

Thanks

Originally posted by @Joel Owens:

Hi Christine,

Are you an investor yourself??

Please describe the intent behind your networking.

Thanks

 =============

Hello Joe, thank you for your quick reply.

I simply like to know where people are obtaining their commercial real estate training from, and what their No #1 road block might be.

Also like to to meet like-minded investors in commercial real estate, specifically people from Canada investing in US.

Thanks very much!

We own and are continuing to invest in the suburbs of the Twin Cities of Minnesota. Our properties are retail, and office spaces.

I've got an office building in DFW. May buy another if I find a great deal in a great location. Will probably have to wait until the next downturn for that. 

So the traditional training for me has been just books and Biggerpockets. Honestly the concepts are pretty simple but most of the stuff is learned by doing in my opinion. The key is to not go broke learning. You need to learn what you enjoy and what you don't. I prefer business tenants over residential. I learned that through owning SFHs and a small apartment building. Others may enjoy that. If you really enjoy what you're doing, you'll keep learning and keep doing. Stick around long enough and you'll become an expert in a specific property type and area. That's when you start making good money. My recommendation is understand your goals and try to find your niche that you enjoy. Start with a small purchase in that niche area and learn.

After I posted I realized I didn't really help you get started:). If you are looking at buy and hold learn the concepts of cap rate, debt service coverage ratio (important when getting loans), and of course cash flow. Do your best to understand ALL the expenses you will incur. That was my biggest downfall when I started. I didn't account for all the expenses in a conservative manner. I was too optimistic. The Fed calls them "stress tests" but I learned everything in life comes with a range of outcomes with various probabilities. Do your best to figure out your worst case outcome and how probable it will be and balance that against the upside potential. That takes experience.

I'm not currently investing in commercial, but I'm increasingly interested in it.  As I narrow my focus I'm leaning toward smaller, seasoned commercial property in stable, lower-density population areas.  I love the idea of taking on an underperforming property, redeveloping it for mixed use and in line with small-town economic development goals, and partnering with entrepreneurial tenants.  That could be in a number of towns around Olympia.  Because I'm a dual citizen I like parts of Vancouver Island as well.  So...the opposite of what you're talking about.

I learn by osmosis, and the primary value I gain from networking is knowledge.  This niche involves risk (from structural issues to the caprice of getting a permit in a small town) so the more I can absorb from others - investors, builders, subs, lenders, retail entrepreneurs, etc. - the more likely I'll be to keep at least part of my shirt.

Hi @Christine Chris welcome aboard. I'm just across the border from you. We're in the apartment biz, mostly Western US. Would be happy to answer any specific questions.

Good hunting-

I like your idea. I love investing in retail, office and mixed use in smaller towns in the suburbs of bigger cities assuming the jobs outlook for the larger city is good. If someone wanted to get into those spaces and was starting out, I would say drive outside the larger city about 45 minutes and make a ring around the larger city and see what smaller cities are there. It's still close enough to enjoy the economic gains from the large city but far enough away where the big money doesn't venture as much. Also small towns are sometimes more receptive to investors especially smaller scale than large cities. The risk with this is that higher gas costs may deter growth in the suburb and the migration back into downtowns. However I think it's still a great place to start building your business and finding great deals.

Christine,

I am in the commercial lending business.  I work nationally across the US.  I received my education with a degree in Finance from the University of Illinois and a Master's degree from the University of Denver in Real Estate.

Mark Creason

Hello everyone. I am a long term SFR investor, rehab and flip entrepreneur, now staring out in commercial--retail and multi-family. Needing advice on building seller and buyer lists for direct mail. Also open to JV in Houston market.

I have to agree with Greg V. 

I've tested all of the property investment types for the most part and commercial is my favorite tenant.  I have bought quite a few commercial single tenant and split them up to make multi tenant smaller spaces to maximize their potential.  I am doing that in Aubrey TX now, a suburb of Dallas.

Try a little of everything and you will find your niche. 

Jeff

Originally posted by @Jeff Johnson:

I have to agree with Greg V. 

I've tested all of the property investment types for the most part and commercial is my favorite tenant.  I have bought quite a few commercial single tenant and split them up to make multi tenant smaller spaces to maximize their potential.  I am doing that in Aubrey TX now, a suburb of Dallas.

Try a little of everything and you will find your niche. 

Jeff

 Welcome to BiggerPockets, Jeff. What kind of buildings/tenants do you have?  Do you find dividing your spaces and having more tenants adds much to management time/expense?

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.