I am a new investor and was wondering what courses people recommend. I have read Ray Alcorns Deal Makers guide which was excellent. Just not sure what I should read next or if it is time for action.
Also, is it better to just focus on commercial deals or do must also do a lot dealing in the single family areana as well.
I can only tell you from my side of the fence (commercial Lending),
that there are far less headaches in the commercial marketplace than in residential.
I am also a correspondent mortgage lender for residential lending but have pretty much put that aside for special cases or loans requiring cross collateralization of residential property.
In residential properties, when solmeone does’t want to be evicted, they can hold you up for a year without paying rent while staying in your property before they can be forced to leave by the courts. The whole time you still have to pay the mortgage until you run out of money.
On commercial properties, you can get them out in a month.
On commercial properties, most maintenance including HVAC is the responsibility of the tenant.
In residential, the landlord bears the responsibility of providing heat and air conditioning (in central hvac systems) and keeping them in good repair.
Lastly, there is no rent control or welfare issues with commercial properties and the profit margins are unregulated and higher.
This is just one man’s humble opinion.
Please contaqct me ASAP concerning your commercial loan products.