Hello great people…I have been acting as a birddog, and wholesaling properties as well as working with pre-foreclosures for the last year. I would like to venture into Commercial REI. I have not been able to find a licensing program as with becoming a residential RE agent (which I am not).
Is it required or recommended that I get a RE license then look to join a brokerage to learn the ins and outs of Comercial investing?
Can Commercial investing be learned through books and REI clubs as I did with wholesaling etc?
If any of you are ACTIVE commercial investors, how would you recommend a new investor to start out?
Thanks in advance from SE Virginia…
“What lies before us and what lies behind us are small things compared to what lies within us.”
There are no requirements to being a licensed agent or broker in order to buy or sell a commercial property. You can and will find many commercial courses on this website that can provide you with most of the information you would need to start investing.
I will caution you, however, that there are many components to a commercial deal…many more than a single family home deal. Unless you can afford to pay for your own mistakes, it might be a good idea to team up with someone who already has done these types of deals and do a split. This will minimize any losses and give you much more value than half the profits for learning the right ways to invest in commercial deals. In addition, this economy requires intuition which comes from experience…one mistake is costly in commercial deals. Mistakes in small deals are manageable, even to a beginner.
Rob
I own many commercial propertys, this is a must, purchase this book Commercial Real Estate Investing In Canada. I guess that would depend on were your investing but i’m sure most of the content would be applicable in the U.S. . It is not a motivational book it is the meat and patatoes of investing. The authors also held a course in Toronto which i would not reccomend. The authors are Pierre and Claude Boiron.
I would recommend “Commercial Real Estate Analysis and Investments” by
David Geltner and Norman G. Miller for anyone considering the Commercial market. I have used it frequently since 2001 and I have been in the business since 1972.
Its going to take some time for you to learn the commercial side of the biz, but if you make a point to stick with it and take care of everything that you can you’ll be fine.
You’re going to have to put yourself out there and walk thru some deals to learn the biz. The big thing that you have to know is that evrything (value) is based on provable cashflows. Once you understand how that works, the rest is just a math problem and pushing paperwork