Commercial Property Lead-Help!

[Vincent Finn]

Hi,

I got a commercial lead appointment set for next week. I have not analyzed a commercial real estate deal before but I am open to learning and seeing where this lead will take me. The commercial property is an established Neighborhood Shopping Center and the owner is looking to sale. I am not sure what my exit strategy will be here but I would like to hear options.

What are some things I should be aware of, know before the appointment, and ask the owner-exit strategies?

Also, Please share any Ga commercial lender recommendations!

Thanks in advance for the response!

[Joel Owens]

Just because it is not on LoopNet does not mean it is not for sale on the market somewhere. Have you told the owner you are a wholesaler and not able to purchase with your own funds right now?

Being 100% transparent is usually best otherwise you get into the BS show. The buyer trying to sell the seller on their capabilities and the seller hoping they have found an uneducated buyer on retail real estate to dump the property on for a premium.

By the questions you are asking it seems you are not well versed in commercial retail properties and there is a lot to it with shopping centers. You might want to research the owner first and see how experienced they are and how big of a company they own. If you show up to the meeting it will likely be clear in the first 5 to 10 minutes with questions asked whether you know what you are talking about or not. Then you could lose all credibility with this property owner and they avoid you and tell all of their friends from then on to ignore you.

This is classic (want to be a wholesaler) syndrome but it sounds like you do not know the commercial retail market, how to evaluate these types of properties, what buyers are looking for, etc.

If you still are to meet this owner you might want to spend day and night reading up on the topic.

That is a very generous offer by Greg as time for professionals in this field can be thousands of dollars per hour. I charge these days to talk to me on the phone unless buyer have sent me financials and we sign an exclusive. TIME is MONEY

I have lived in GA all my life so can tell just by the area and validated cap rate if the property is a deal or a dud but I review 1,000 a week or more nationally for clients.

Good luck