Steps to Making First Commercial Deal
Good Morning BP Community,
I have a question about getting started in commercial investing, specifically large apartment buildings. I have only recently been interested in getting started with commercial investing, and unfortunately had to dive in quicker than expected. I recently inherited a commercial property that houses a restaurant, so my feet have basically been held to the fire right off the bat, but I'm learning a lot.
I'm quite interested in apartment buildings. I'm currently looking in the wyandotte/trenton area in Michigan. I've become pretty comfortable in analyzing commercial deals and would like to get my first deal done soon. Specific deals aside, what would be my first steps to buying a commercial property? I've got an LLC for the property I inherited. I'm wondering, should I try to get a loan with the LLC that already has a property in it, or open up a brand new LLC? Obviously I'd need to find the deal first, but I'm just looking for basically a checklist with steps to move forward.
Thanks in advance!
Dillon