The initial step into commercial real estate is often a challenge for new investors. Whether you already have experience investing in residential properties or this is your very first real estate venture, you likely have a long list of questions and concerns about buying commercial property.
As a commercial real estate broker for 25 years, I have worked with buyers investing up to $150 million in properties, and I know it can be intimidating to enter the world of experienced investors. If you’ve been thinking about investing in commercial income property but have been stalled by your own doubts—How do I even get started? How am I going to keep up with big-league investors?—know that there is a place for you.
Follow these three achievable steps, and get started as a savvy commercial property investor.
Determine how much money you have to invest.
Before you do anything else, outline a clear picture of your finances. How much money do you have to invest in a property? Do you want to purchase in cash, or are you hoping to qualify for a loan to increase your investment amount?
Source: Forbes, Galit Ventura-RozenForbes Councils MemberForbes Real Estate Council, https://www.forbes.com/sites/forbesrealestatecouncil/2020/09/09/three-steps-to-get-started-in-commercial-real-estate-investing/#6b04af8b58b7