I’ve been reading everything on this website for awhile now and finally decided to register to the forums.
I had a question about finding help with investing.
How can I find someone who would be willing to help a beginner in commercial real estate?
I’ve seen so many websites and “gurus” that say they’ll help, but have insane costs like $2,000/day to talk. I’ve talked to some of these people before and wasted a lot of money doing so. I hear a lot of “you can do this” but not very much “this is how you do it.” I guess I am looking for someone like an angel investor for a business, where they’ll provide the capital, expertise, and management; and I’ll do the work. Does anybody know where to find resources like this? I’ve talked to the normal friends and family, which havent been much help at all.
You might offer to be a bird dog and learn from the people you are finding deals for. Contact investors in your area that are dealing in commercial real estate and let them know you would like to bird dog for them and see if they won’t give you enough training to start hunting for property for them.
What kind of “help” do you need? If you need someone to hold your hand, that rarely happens. Why should a successful investor help you learn the business? What do you bring to the table? Would the investor just be training you to be their competition?
Hiring national “gurus”, mentors, or coaches is a total waste of time and money (in my opinion). These people are generally in the business of making money from newbies, not making money from the real estate business.
There are thousands of posts on this website that provide the information you need. How many of them have you actually read? If you’ve read “everything” on here, you should know just about everything about the business. There is no “secret” to real estate (contrary to what the gurus claim).
Instead of paying some “guru”, you could do the hard work of finding and making friends with the successful investors in your area. If you truly do that, your new friends will be happy to help you for free, provided they don’t feel like they are being used.
What specific questions or issues do you have? If you post them here, you will get answers from people that actually are in the business and it won’t cost you a dime! Ask away!
I guess you addressed my actual question in your 2nd to last paragraph. Im not sure how to find “successful” investors, or where to find them. I’ve been to the REI clubs in the area, and it seems like most of the people who are there are not very experienced, or just doing residential.
Successful commercial investors, who are not affiliated with a company are hard to find, in my experience. Im not specifically looking for someone to hold my hand, although it would be nice, but someone who is willing to share their knowledge and experience in exchange for work. I have no problem doing work for them if I’m able to learn while doing it.
Why not study and get your real estate license. You can then specialize in commercial real estate.
The best way to get experience is to just do it. There are many classes offered in the commercial real estate field. You can work while you earn those valued commercial designations that give you authority to represent buyers and sellers. You will learn the business.