I’m interested in launching a commercial real estate investment business. I’d like to make sure that I have all the information I need to suceed. So, I’m reading books, talking to other investors, blah, blah, blah.
One of the courses that I’ve come across is Toby Unwin’s One Deal From Retirement. Has anyone taken this course? And, would you recommend it? What other educational resources should I consider?
Thanks for the help.
Where did you find Toby Unwin’s course? Does he have a website?
It looks like he is a UK guru.
Thats United Kingdom
:redface:
Bruce
I hope you didn’t buy this material. Absolutely the worst information product I have ever seen. I’m an experienced commercial real estate investor, and ordered it because several people have asked me about the material.
The “manual” is about twenty pages with literally three sentences per page (posed as questions like a quiz for the videos). That’s not a typo, I said 3 sentences per page (sometimes 2), plus two simplistic forms copied six times each.
Much of his information is just flat wrong. The spreadsheet formulas for debt service are wrong. The evaluation methodology is wrong. The “deal filter” is the most ridiculous thing I’ve ever heard. (i.e. buy when the cap rate is at least 1.5 points above the loan rate.) I’d love to sell property to this guy!
The videos are even worse. Opens with a tour with Toby in a multi-million dollar house in orlando. He says it’s his, but if so he didn’t pay for it from commercial real estate. Then he moves to a studio where another Brit (Toby is from the UK) interviews him. Listening to the guy stumble through material he obviously doesn’t have a clue about is painful.
But hey, what can you expect coming from Agora and Early To Rise, who’ve never met a hustle they couldn’t sell. I’ll be so glad to send it back with a copy of my thoughts.
Hi,
I’m also trying to transition from residential to commercial and I’m having no luck getting information on how to get started. Does anyone know how to get trained and open for business??!?
Any good courses that you know of? I’ve found that most people are not willing to share.
Thanks for any thoughts on this.
The best thing to do is to read and research about commercial investing. Then you need to ask yourself some questions:
How much money do you have to use towards your investment? Most lending programs want at least 20% down plus closing costs, which can run around $2,000 and up. You will also need some money for reserves, maintanence, legal, etc.
What type of property do you want to buy? Apartments, shopping center, office, etc. What type of property can you afford to buy?
I would also suggest that you network at your local REIA and find out who else is investing in commercial properties.
Regards,
Patti Porter
Also,
Why are you investing?
Are you looking for an active investment where by you dramatically increase your net worth in a short amount of time by buying undervalued property and turning it around?
Or
Are you looking for a long term passive investment with no
management, no maintenance, no insurance, and no section 8?
A passive investment deal can be put together with a long term
proffesional(corporate) tenant in place for the next 15-20years.
Your prefference will determine what resources you need to seek
out.
Hope this helps
Aole
the transition from residential to commercial, for that you need some cash to play the game, specially the appraisals, from 200 dolars average in residential to 3000 dolars in commercial, (just the appraisal) keep that in mind, i am also looing for some reliable and realistic info in commercial.
Absolute %$*&… How much research have you done on Toby Unwin? You obviously have no idea who he is. Do some research before you make comments. His course is the best course I have come across so far. How much of his techniques have you tried using? (and failed?)
I found EVERYTHING works that he mentions in his course, I have started using his techniques over the last 2 months. So far everything is going exactly as he mentions.
I’ve been in commercial real estate for over 25 years. My deal volume averages about $10mm a year. You’ve been in it two months, Unwin about two years. In the land of the blind the one-eyed man is king? Enough said.
so being in it for 25 years makes you all knowing?
Please keep the discussions civil and profanity-free.
Thanx,
Keith
Moderator
Who out there has actually done deals with this method and can show proof of success? (Blank out personal info)
It would be a nice day when we can get something real that works
and not endless opinions
What is a good, reliable commercial real estate course (US)?
Well, as owner of this site, I’ll vouch for the course put out by Dealmaker above. His name is Ray Alcorn and he’s not blowing smoke. We’ve been friends for many years and his deal volume does average 10 mil per year. He knows commercial real estate, period.
http://www.reiclub.com/products/354
And if he says Unwin’s course is terrible, then you should take that at face value, and assume that anyone who’s promoting the course is merely a shill for the author.
wow… as far as reading goes… it can be very helpful, but like all knowledge needs some practical application.
I’d recommend brokering transactions for a year… you can buy at the same time.
You’ll be surprised how many deals that you’ll come across as a broker in a market area that would never have made it your direction as a principal.
Easy to become a broker… tough business… but very educational.
Those desiring to understand real estate investment should consider CCIM courses. The courses are ligit, respected in the industry and truly applicable to real world. Check out www.ccim.com
If he’s a) doing $10mil a year b) not lost his shirt and c) still in business after 25 yrs…he knows what he’s doing.
I agree with dealmaker,
the course is not worth the money. I do infact wish the material was true but its not.
im 22 and im just getting into the real estate business.
I’ve read tons of books on commercial and residential realestate.
I bought this course along with several other things from Agora and I have to say, most of these information products from Agora are things you can pick up at your local book store for $19.99. They just take a simple concept; bloat it, stick it in a 3 ring binder and call it something special.
In this course Toby goes on about how you can buy all these properties with 0 money down and bad credit and how its SO easy etc. Get real man, 0 down is not going to happen. Atleast not where I come from. You better have ATLEAST 10% to put down or you can expect to be laughed at. dealmaker is right when he says the deal-filter is a joke. And as far as having bad credit, your in the wrong business all together. You had better focus on fixing that first. No one is going to lend a million dollars to someone that is’nt responsible. would you?
anyway, one good thing he did mention is loopnet.com thats a good site I enjoy using that and have met some helpful people through it. And if you have no idea about how commercial real estate investing works, he does give you the basic idea. But i truly feel that if you follow his methodology for purchasing you will end up in trouble.
just my 2 cents.
I went to school with Toby, in fact whilst looking up old friends on the internet I stumbled upon this thread about Toby and thought to myself, looking at the title of the book, that this must be the chap, as he was always into something like this.
As a young man, he pretended to own a Ferrari (actually belonging to his father, himself an honest and successful man) which was a blue Mondial, if memory serves. He tried to sell the advertising space alongside the Oxford and Cambridge boatrace without actually owning any of the space he was trying to sell and countless other things to get himself rich quick. If memory serves (it usually does) he failed on all counts and after his parents bought him his first flat, he was almost jailed and they took him back home to straighten him out (they didn’t manage)
You can believe me when I say the following, that despite any evidence to the contrary (such as pictures of the devious little pint sized man next to famous Austrians) he is dishonest and rotten to the very core, anything he says is to be taken with a pinch of Arsenic, rather than salt and that any get rich quick scheme involving him will only serve to get him rich quick.
As a young man myself, I remember him talking on mobile phones on the underground despite the fact that in those early days there was no signal on any part of the network (he was just trying to impress people) and lying to girls to get them to sleep with him (even the lies wouldn’t necessarily get them into his bed) as well as certain activities, but I feel might be breaking the bounds of free speech here, so I won’t mention them.
Coindidentally, I am actually in the property market and I really am quite successful, I have been retired for a few years now, have a family and am quite comfortable (I don’t have any intention of owning a Gulfstream, or perhaps getting a World Speed Record, which Toby boasts he has - funny that, the closest that man ever got to being a pilot was owning Breitling watches, he has vertigo for Christ’s sake!) I just want to spend time with my family, but I will say this:
Anyone who really knows how the property market really works, does it and makes money for themselves. Any information shared by real experts comes too late to those new to the game to properly take advantage of and that has been a fact of almost any market forever and for the future.