Does anyone have any suggestions on a book that contains extensive information about multi-unit commercial properties? I’m looking for a book that covers everything from the different types of financing options to evaluating potential properties.
Thank you
Has anyone read “The Complete Guide to Buying and Selling Apartment Buildings, 2nd edition” by Steve Berges?
Any other suggestions?
I’ve yet to find a book other than textbooks with extensive information about anything. Here are some commercial related RE books I’ve read within the last year:
Maverick Real Estate Financing
Complete Idiot’s Guide to Commercial Real Estate Investing
Confessions of a Real Estate Entrepreneur
Commercial Real Estate Investing- 12 Easy Steps to Gettting Started
Make More Money Investing in Multiunits
and The Complete Guide to Buying and Selling Apartment Buildings
Out of those choices do have a specific recommendation? I’m looking for a book that covers all aspects.
Also, you mentioned that you found text books to be helpful. What exactly are you refering to? Could you provide the names of the text books that were most help or covered all aspects.
There are no all inclusive commercial real estate books. Your not going to find the magic formula by just reading one book. Read EVERYTHING about multi-family properties so you can pick and choose what makes the most sense to you.
There are better ways to learn about commercial RE other than reading books. If you want to know how to evaluate a property, ask a commercial building inspector if you can carry his tools for a couple days. If you want to learn about financing, tag along with a commercial LO when he meets with clients. Fetch coffee at a brokerage or investment firm for a while. There aren’t many quality commercial RE books out there. The reason is because everything is done case by case. No cookie cutter strategies apply.
It seems like your looking for a short cut. One book that will tell you everything you need to know. Allow me to be the first to tell you that this is just not going to happen.
well I do understand that, I’m more les looking for something that will give me enough insight on all topics to get me going.
I just recently finished reading “The Complete Guide to Buying and Selling Apartment Buildings, 2nd edition” by Steve Berges
I am also just finishing up “How to Buy and Sell Apartment Buildings” by Eugene Vollucci
I found/finding them both to contain lots of information (obviously directed at Apartment Buildings only) but as with other readings each has their own niche on how to do things. Berges is ‘Value Play’ where Vollucci is a ‘3 step program’.
Being I am new to this myself, I can’t really add any more, but if you get any input about a great all rounded Commercial Inveting book, please let me know.
David
Read: Commercial Real Estate Investing- 12 Easy Steps: Jack Cummings
Review: Worthwhile, did teach some things.
Just Completed: How To Build a Real Estate Empire: by Marcel Arsenault and John Hamilton.
These guys are clients/affiliates of Marcus and Milchap. Even though the title seems a bit cheezy, I thought the book was very insightful.
It covers several extremely successful people in commercial/multi unit real estate…how they got their start, what their focus was, mistakes they made, etc. One idea I thought was excellent was taking old abandoned office/warehouse space and turning it into small office space for people like us, entrepreneurs, small business owners, etc. who need inexpensive office space.
For the record, I do not own any multi-unit commercial rental properties yet. I have a 6 unit apartment building that will be completed in 6 months, I have 14 condo units in the process of building right now in 3 buildings (2 conversions with 4 units each and a 6 unit building from the groung up…all which will be completed in less than 9 months. This is why I want to get into CASH FLOW properties. Mine are all like rehabs where after a ton of work and headaches, you finally get a decent size paycheck…but the lack of consistent cash flow is stressful.
A pretty comprehensive book is "Dealmaker’s Guide to Commercial Real Estate: Strategy and Practice for the Intelligent Investor " by Ray Alcorn. It’s $499.00 and very much worth the money.
Ray posts often and give valuable advice in the commercial section of www.creonline.com
Any book you read is not enough to get you going in commercial real estate. You need more hands on training I have been to every commercial boot camp and workshop. The best so far is a one day I attended, no sales BS these guys are real and do deals. Land, and condo conversions good stuff and very informative. Scheels is O.K. dont know if he ever closed more than one deal. These guys have closed several and are making Millions with there techniques.
check it out
http://www.fidelisproperties.com/halfdayp1.htm