Getting started in the commercial real estate so off with you asking yourself why or what.
How in the where getting started in commercial real estate.
So let’s start with the why.
Why do you want to be a commercial estate.
Are you fed up with your 9 to 5 job.
Are you getting older and older and forget about your retirement.
The economy take away your time it is something pressing in your heart that you always wanted to do
but your job gets in the way.
Or how about this also and maybe something else deep inside you that you really want to do but you don’t
have the financial means to do it.
Those are all very profoundly powerful wise and I tell you that when the why is powerful the hall becomes
not so difficult the house becomes very clear many years ago I was an engineer and my boss and mentor
was laid off without him knowing he was laid off and they wanted to replace him with someone younger
and at a lower salary.
Does that sound familiar.
Well they replaced them with me and it broke my heart.
And at that point I saw my life flash before my eyes and I also saw that what they did to him they will
do to me.
That was my wife.
That was my big.
And that’s what got me started to invest in commercial estate right away.
What’s your wife.
Next is what.
And the question is What do you bring to the table.
What I mean by that is what cash can you bring to commercial with investing.
Now I’ll tell you you don’t need a lot but you do need some.
We were going to have expenses such as appraisals inspections travel and so forth.
So you’d need a little not a lot.
And let me tell you that if you are completely broke maybe commercial real estate is not the best for
I’m just being honest with you.
Next is the how.
And the big question is how much desire do you have desires.
Number one desire is number one.
A mentor of mine told me that anything that you pursued that’s great and worth the life you go to has
obstacles and to come out success one on the other side.
You gonna have to have desire so desire is number one.
Next is one desire.
Let me tell you something that you probably heard already.
Well gifts if you have a strong desire and strong desire out you gifts and talents any day you’re investing
a strong desire I’ll do it the gifts in talents especially with investing.
So if you have a little bit of money socked away but you have a great desire to invest in commercial
Perhaps that’s all you need.
Next is where the question is Where do you invest as a as expense investor and coach a mentor.
I would say invest in your own backyard first.
Your research should start in your own.
See many people think there is better deals outside your own area.
But I disagree.
I think you should begin in your own city qualifier or disqualify your own area for us by investing
locally or starting locally.
You get to meet people quickly.
You get to learn the business faster.
You can build and touch that property and become an expert is key in this business and you can do it
a lot easier if you’re local.
If you want to go outside of the area that should be a last resort and the reason why is it’s very tough
is dangerous it is risky to go outside your area.
All right let’s talk about is there basic requirements of getting started in commercial real estate.
The first requirement is to get a basic understanding of commercial listing.
I want to talk briefly on two things.
Two things two bare minimum things you need.
The first one is you need to have an understanding of what commercial real estate is number one.
Number two you need to be able to evaluate a simple commercial real estate deal.
Those two things are at a bare minimum.
There’s a lot more.
But those two things are buried in two previous videos.
I discussed those topics so you can check out the first video called Commercial Real Estate Investing
for Dummies and the second video is the five best commercial real estate spread individual dancers So
check those out.
They know how I got my basic understanding is I got those from my my two majors Robert Kiyosaki and
I spent four years with Robert and one long summer 1.0 and here are the fruits of that.
After a few years with Robert Kiyosaki he and I produced this DVD together on real estate investing
and what all 12 after a long summer here produce this force to go to school.
M.S. It was a realistic success for us and I’m on that.
That’s the all that talk about is now now we have a basic understanding what we need next.
You don’t need a computer.
That’s right a computer with internet access.
Now today the world is flat.
You can be sitting here on the West Coast and invest in the East Coast research projects anywhere in
California or anywhere where you live just by having a computer.
Next is a cell phone.
You need a cell phone with.
I mean with voicemail because you’re going to be setting up appointments meeting with people you’re
going to be doing due diligence and you either have that say next is a calculator you need a very simple
catheter nothing fancy something very simple and if you don’t have a counter handy you can go online
and just google what was cut later and use some of those.
You want a hand-held calculator.
There’s a company by the name of copulated industries Google calculator industries.
They have a bunch of real estate friendly real estate investment focused conclaves.
Check them out.
Oh by the way most of the guys that work with including myself our mortgage are our real estate coplanar
is an app on our phone.
So check it out.
The last thing you need is time.
Anything that you go after any endeavor that needs to be a Boca’s amount of time on that endeavor.
And in this case for getting started in a commercial let’s say you’re going in the three to four hours
That is your bare minimum of three to four hours a week.
Now I want to switch up a little bit and I want to I know it went over the bare requirements getting
I want to just go over something that goes against the grain and that is I want to share with you a
few things that you don’t need to get started.
Things you don’t need to get started again they go against the grain.
Number one is you don’t need a real estate license.
You do not need a license to get started in a commercial real estate.
In fact it can be a liability to have a license in commercial real estate.
Next news is you don’t need to have to have started in residential real estate to jump into commercial
What I mean by that is you don’t have to start off owning a single family home rentals before jumping
You can just start directly in commercial because they are two separate things.
Two different items.
Apples and oranges two different investment types.
You don’t need a master’s or MBA to understand everything going on with commercial commercialism you
I don’t have a master’s.
I don’t have a master’s and I call real Commercial Real Estate Investing for Dummies.
You need experience you need focus and desire.
Next what you don’t need.
You don’t need to be rich.
You need a little bit of money.
I need you to be rich in design.
In your previous video I shared with you how one of our proteges didn’t have a lot of money and no experience.
He didn’t use banks get no credit.
And basically you’re just a beginner.
And he needed to do his first commercial deal.
He used a technique that I called the master lease agreement in a previous video.
Check it out.
One last thing will leave you with.
I was sitting with Robert one this monkey’s hockey one evening and he shared with us what two things
that the super wealthy have in common.
Now when I see them all.
I mean people with a lot of money but they use their money for good.
They use the money to make the world a better place.
These are people that you and I look up to and they at least seem these are very awesome wealthy people.
He said they shared two common traits.
All right the first really is that the on commercial estate.
And there a portfolio where they got most of the wall is in commercial real estate that was that first
The second trait is they all are known for their integrity.
When there’s something to be done and they have to get done they did it even though it may hurt like
they did the right thing even though it may hurt.
My spiritual mentor told me one thing and it really sunk in you said Peter Scuse me he said Peter how
do you do.
One thing is how you do everything.
How you do one thing is how you do everything.
So what I want you to do is to get your get on the right track and keep your integrity and.