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Author Topic: Just wondering...  (Read 1932 times)

Offline ollieo

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Just wondering...
« on: August 18, 2010, 07:06:19 pm »
I (a real estate agent) was involved with a $2.2M MHP deal earlier this year.  It was very exciting and quite lucrative.  I guess it's easy to get hooked on commercial real estate when you get such high commissions.  I had a property listed, but my seller cannot provided updated P&L Statements for potential buyers so I told this guy about another MHP that I knew was for sale.  This guy is "maybe" a consultant for investors or something.  He has investors from across the country calling him to help them find properties around our area that are for sale...most MHPs, storage units, apartments, etc.  He told me he has done 4 other deals this year.  I feel lucky that he is now involving me in some of the future deals.  Our area is expecting tremendous growth (28,000 people) over the next year so I know we will have a lot of commercials deals taking place.  I would like to learn more so I can talk to the investors b/c right now I just refer any investors to my friend who gets paid by the buyers to locate properties.  This is okay with me b/c I am intimidated by the process.  Does this sound like a good arrangement?

Offline Mdhaas

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Re: Just wondering...
« Reply #1 on: August 18, 2010, 07:31:40 pm »
Anytime that you can get someone that you are familiar with to train/mentor you is a great thing.  You are learning in YOUR market, YOUR environment with someone that is familiar with your abilities.

A course designed in California, will not have as great an impact with a trainee in New York.

Read, read, read...ask questions...be involved. Most of all be aggressive!
If at first you don't succeed.....................skydiving is not for you

Offline ollieo

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Re: Just wondering...
« Reply #2 on: August 18, 2010, 07:40:41 pm »
I am absolutely thankful.  Commercial real estate is a blessing for the real estate agent as well as the actual participants.  But, I know I need to learn how to talk to the investors and not look like a complete idiot. My friend tries to do the deals with creative financing first, but he said as long as it is a good deal..his investors can pay cash.  What's good about him is that his family has owned mobile home parks and he can help the investors get things set up if the investors are elsewhere. 

Is it better to take a course in commercial real estate or read these forums?

Offline Mdhaas

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Re: Just wondering...
« Reply #3 on: August 18, 2010, 08:17:35 pm »
Start with the free info. There is a search function under your screen name at the top of this page. Use it to gather information.  if you have questions ask, after all it's free and the responses will be from those who have been and are doing exactly what you are trying to learn.
If at first you don't succeed.....................skydiving is not for you

Offline libertyconstruction

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    • Liberty Construction
Re: Just wondering...
« Reply #4 on: September 02, 2010, 05:29:32 pm »
The saying "Look before you leap" applies!

 




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