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The book also highlights the nitty gritty details of financing and owning and operating the investments. Lastly, there is emphasis on how investors can scale their business to be sustainable for the long-term. Commercial real estate investing can be very lucrative and CRE tycoons often make the news: many of us have heard of some of the more [in? There's a reason why the rich love real estate: it can offer a diversified stream of income outside of the stock market, it can be a tax shelter, and it can be bought using leverage.
These same reasons also make commercial real estate investing alluring to the average Joe Snehann! What I really enjoyed about this book was that the authors support their advice with reason, statistics, and real-world examples. For example, there are some great tips on building and maintaining a rolodex of potential investors, including a word-for-word script readers can use to build their own network Pg. It all sounds so easy There are even moments throughout the book where the authors talk about mistakes they made and how they lost a lot of money because they failed to educate themselves properly.
And it's not just the authors. The book features short parables of other investors who lost money and recovered by following the straightforward advice provided. Education is key. And one of the real-world tips the authors talk about is around the exchange Pg. Such advice is refreshing from that of the other real estate "gurus", who promise prospective investors a life of sipping margaritas on a beach It's reassuring to know that even though the authors are both successful investors, they went through their series of mistakes.
Overall, I really enjoyed reading this book. While I found some sections to be a bit dry, most of the book was very informative and digestible. For these reasons, I would give it a rating of 4. Goodreads helps you keep track of books you want to read.
Want to Read saving…. Want to Read Currently Reading Read. Other editions. Enlarge cover. Error rating book. Refresh and try again. Open Preview See a Problem? Details if other :. Thanks for telling us about the problem. Return to Book Page. Peter Harris. Make real estate part of your investing strategy! Thinking about becoming a commercial real estate investor? Commercial Real Estate Investing For Dummies covers the entire process, offering practical advice on negotiation and closing win-win deals and maximizing profit.
From office buildings to shopping centers to apartment buildings, it helps you pick the right properties Make real estate part of your investing strategy! From office buildings to shopping centers to apartment buildings, it helps you pick the right properties at the right time for the right price. Yes, there is a fun and easy way to break into commercial real estate, and this is it. This comprehensive handbook has it all.
You'll learn how to find great properties, size up sellers, finance your investments, protect your assets, and increase your property's value. You'll discover the upsides and downsides of the various types of investments, learn the five biggest myths of commercial real estate investment, find out how to recession-proof your investment portfolio, and more. Discover how to: Get leads on commercial property investments Determine what a property is worth Find the right financing for you Handle inspections and fix problems Make big money in land development Manage your properties or hire a pro Exploit the tax advantages of commercial real estate Find out what offer a seller really-really wants Perform due diligence before you make a deal Raise capital by forming partnerships Investing in commercial property can make you rich in any economy.
Get A Copy. Paperback , pages. More Details Original Title. Other Editions 8. All Editions Add a New Edition. Friend Reviews. To see what your friends thought of this book, please sign up. Lists with This Book. Community Reviews. Showing Average rating 3. Rating details. More filters. Sort order. Jul 16, Dan rated it it was amazing. Loved it- one of the first real estate books I've read focused on commercial vs.
Very all encompassing good readable style that demonstrates a lot off experience by the authors. I've read several other RE books by Peter Conti, and realized about halfway through the book that Peter Harris is the producer for an excellent series of YouTube videos on commercial RE. Dec 15, Charles rated it really liked it Shelves: real-estate. Pretty informative, especially for a person who's essentially a newbie the only other book on real estate I've read is the The Wall Street Journal.
Complete Real-Estate Investing Guidebook which, if I remember correctly, mostly focused on residential real estate. Some of the book might be outdated since it was published in the midst of the financial crisis, but I can't take points off for that. Three criticisms. First, the constant mention of the author's "commercial mentoring" program makes th Pretty informative, especially for a person who's essentially a newbie the only other book on real estate I've read is the The Wall Street Journal.
First, the constant mention of the author's "commercial mentoring" program makes the book feel like marketing for the program as of December , the main site, commercialmentoring. Second, and similarly, Conti uses some of his mentees as examples that read like a classic "look at this person who made it rich; you can do the same!
This friendly guide covers the entire process, offering practical advice on negotiating and closing win-win deals and maximizing profit. From office buildings to shopping centers to apartment buildings, you'll see how to find great properties, size up sellers, finance your investments, protect your assets, and increase your property's value.
A self- made millionaire, he has mentored thousands of investors. Peter Harris teaches commercial real estate investing to clients across the country. Imagine yourself walking through the lobby of your unit apartment complex. What would it look like and feel like to be pulling into the parking lot of a neighborhood shopping center that's all yours?
Maybe you can imagine that you're watching your construction crew break ground on your luxury home land development project. What if this project leads to a life where you can live a life of luxury and balance? You'd be able to do things such as drive your kids or grandkids to school every day, maybe even in your pajamas, with a big smile on your face because you've invested wisely. Okay, here's one more scenario that may get you excited: Imagine yourself impacting the lives of hundreds or thousands of kids here and around the world who benefit from your charities, all funded by wealth-building skills and invaluable relationships developed from your commercial real estate investing.
We have two purposes for writing this book. The first is to introduce you to commercial real estate investing. We want to share with you that anyone can learn how to successfully find, research, negotiate, finance, and buy commercial real estate of any type.
In this book, we do our best to break down powerful investing concepts that were once thought to be too complex for most people. Our second purpose for this book is to give you the confidence to go after what you really want in life instead of shying away from the true potential that you've always known is somewhere inside of you. To make this jump as easy as possible, you even get a free Commercial Quick Start Training Package, which will allow you to quickly implement the moneymaking ideas in this book.
See the About the Authors section at the front of the book for details. Creating the wealth that allows you to follow your real passion is what's waiting for you whether you're an investor, real estate agent, or lender. Commercial real estate will accelerate your financial freedom, and in the process our hope is that you'll find the true meaning of the "why" in your life. That alone makes this book worth diving into. What Is Commercial Real Estate?
Commercial real estate is many things. It's office buildings, apartment complexes, shopping centers, warehouses, industrial parks, hotels, motels, resorts, and the list goes on and on. It's where businesses are conducted and where many people live together. Commercial real estate is everywhere. Jump to Chapter 2 for a journey through all the different types of commercial real estate that are available. Commercial real estate is also a means of building long-lasting wealth for the investor.
To us, long-lasting wealth is an investment that pays you every month. It's also one in which the value increases every year. Compare this to other types of investments that may allow you to draw a monthly payment, but the balance goes down year by year until the pot's empty. Sound familiar? That's not true wealth at all. In this book, we show you how commercial real estate has the ability to generate sizable cash flow every month as well as increase in value every year and to be tax free!
We challenge anyone to find a better way out of the rat race than to invest in commercial real estate. Commercial real estate can afford you a wonderful and fulfilling professional career that's second to none. And besides being enjoyable, commercial real estate investors are among the highest paid professionals in the nation.
In fact, it isn't uncommon for a commercial investor's check from just one closing to equal one year's salary of an engineer. We see it all the time. We also get to hang out with and see the changes our Commercial Mentorship students are going through. Many of them have joined "The Quitters Club" by saying goodbye to their 9 to 5 jobs.
These friends of ours absolutely love what they do and can't dream of doing anything else. Every ultrasuccessful investor or high-income-generating professional we know in this business knows the secret - it's relationships. Commercial real estate is at its core a relationship business. For instance, big deals, huge fees, and long-lasting and fulfilling careers can all be created through the relationships you make.
We talk more about relationships later on in this book. TIP As you're out and about, start looking around at all the commercial real estate that you see. When you go to the shopping center, notice what space is leased out. What buildings aren't fully leased?
Why might that property be having trouble? After you realize that an investor owns every building, it's difficult to not think about owning your own commercial properties someday. To get started investing now, try out the free bonus that's waiting for you at www. As a reader of this book, you get three online training courses and a one-on-one strategic coaching session.
What to Think About As You Get Started When choosing to make an investment in anything, you have to take several things into consideration, right? Why am I doing this? How much does it cost? Am I doing this at the right time? Well, the same applies for commercial real estate. In fact, you may find that you have too many choices simply because there are so many different ways to profit in this field. The following sections go over some of the most common questions you may have when deciding which part of commercial real estate is right for you.
Can I make money at commercial real estate investing? This is one question that we have a definitive answer for: Yes! We know that you can make money investing in commercial real estate for three reasons: If we can do it, you certainly can too. Both of us started from modest beginnings and we aren't special by any means. In fact, coauthor Peter Conti used to be an auto mechanic.
Coauthor Peter Harris was an introverted engineer. We are blessed to be surrounded by our Commercial Mentoring Program students who for the most part have started with little or no experience in commercial real estate. Every time a Mentorship student gets another deal they prove that it really is possible. If you look at the most successful investors out there you'll find that they all have a pattern in common: They've typically started out by investing in homes, running a business, or working in a fairly well-paying profession.
The next step is to begin investing in smaller commercial properties such as apartment buildings. At some point the successful investors all move up to either big commercial deals or land development. Coauthor Peter Harris started out investing in real estate by purchasing single-family homes. He did quite well in it, but one day he was daydreaming and said to himself, "What if I could combine all my rental homes under one roof?
In fact, he realized that he could make better use of the time that he saved by investing even more! When he woke up from his daydream, he realized that he had just described an apartment complex. To make a long story short, he sold all of his rental homes and bought large apartment complexes. And the rest is history. His cash flow went from hundreds per month to thousands per month in only two years.
If he can make it starting out where he did as an introverted engineer, and now he's buying commercial properties worth millions, you certainly can too. You see, Peter is simply an average person who applied the ideas in this book to change his life. If he can do it, anyone can use commercial real estate investing to transform his or her life.
Throughout this book, we show you what "good real estate" looks like, and we tell you how to time the real estate market, what markets to stay away from, and how to know a good deal from a bad deal Then we set you up with some powerful guiding principles of investment and some free ongoing training to help move you forward. What type of investor am I? You can fall into one of two basic types of commercial real estate investors. The first is the cash-flow investor , and the second is the long-term hold investor.
Both make excellent cases for fantastic wealth building and both can do well in an up or down market. Read on for details. Cash-flow investor Cash-flow investors purchase properties for the purpose of putting monthly income into their pockets.
And they buy commercial real estate just like you would buy a business. In other words, if you were buying a ready-made business, you would do whatever it takes to make sure that the business is a proven moneymaker, right? You would thoroughly check the financial records to prove that it could stand on its own every month.
Well, cash-flow investors do the same. They take every measure to make sure they're investing in a property that produces nice monthly cash flow. Also, cash-flow investors don't solely rely on appreciation as a way to get wealthy. They know that appreciation is only a bonus, a gift. If it's present, great. If it isn't, that's okay, because the focus is on income. Cash-flow investors know that relying on appreciation is a form of gambling and doesn't make good business sense.
In Chapter 3, we show you how to easily evaluate and calculate cash flow for any income-producing property just like the experts do. In down markets where sales are slow and prices are falling, people who normally would buy homes to live in aren't buying homes due to fear. These folks eventually become tenants for your multiunit commercial properties. This helps cash-flow investors to actually make more money in a down market. Long-term "hold" investor Unlike cash-flow investors, long-term "hold" investors rely on appreciation for wealth building, but they do so in a more conservative real-world fashion.
They also benefit equity wise from paying down the loan amount over a number of years. The long-term hold investor's goals are simple: They want deals with an upside, like the ability to increase the value by improving the cash flow of the property. For example, some of the wealthiest investors we know are our mentors, who are older gentlemen who bought their pieces of commercial real estate decades ago.
One of them bought land and another bought apartments. Their philosophy was "Good real estate will always have a higher value over many years if I wait long enough. Both of these gentlemen held onto their properties in three separate down market cycles over the years. Both have properties that are debt free, and they have made millions of dollars since.
Make your money work for you with sound commercial real estate investment strategies If you're looking for more detailed advice on the commercial real estate market than, "Buy low, sell high," you've come to the right place. Commercial Real Estate Investing For Dummies covers the entire process, offering practical advice on negotiation and closing win-win deals and maximizing profit. Commercial Real Estate Investing for Dummies as taught by the author of the book himself, Peter Harris, to help educate individual investors who want to own.