First Commercial Buyer Consult

[Tim Czarkowski]

I mostly work in residential real estate as both an investor and as an agent but have worked on a few commercial deals for family. A couple days ago I had a doctor that works with my wife call me who is interested in buying commercial property. He had originally told me he was interested in purchasing raw land but being that he doesn't seem to know a lot about real estate and the investment is apparently for his mother, I didn't think that was the best choice for him. We went back and forth by e-mail and it seems his goal is to make 10% on his money. I have sent him some single tenant NNN listings but didn't get a response at all so I called him and setup a buyer consultation with him on Thursday. Since he is busy and inexperienced doing a build out from raw land seems to be a bit much, particularly in this economy, and with a little leverage could hit his goal with much less risk and time with a NNN property. This being my first real commercial buyer consultation I was hoping you all could give me some advice how to prepare for the meeting, questions to ask, etc. Wish me luck, this sale could be equal what I used to make at my job before I went full time into investing.

[Joel Owens]

"We went back and forth by e-mail and it seems his goal is to make 10% on his money."

For a quality urban to suburban NNN property hitting a 10 cap is going to be very,very hard.

You can't make someone want to do business with you whether that be a potential buyer or a seller.

"Wish me luck, this sale could be equal what I used to make at my job before I went full time into investing."

DON'T focus on the money.Help people and the money will happen.Sometimes it might take 6 months to find my clients the right property.My goal is to set them up for success for the long term and not make a quick buck off of them.

By pushing yourself too much this potential buyer might feel you are just "trying to get them to buy something" instead of really helping them out. If they feel that way they will run from you in a heartbeat.

Building relationships with quality clients one by one for the long term and putting their interest first is how you create long term success.