Detroit Multi Family: 2011

Wednesday, March 9, 2011

Michigan Apartment Investing

To register for the upcoming March 26 class call us at 313-444-9691
or register online at http://www.herbscommercialquickstart.com/

Thursday, February 17, 2011

Monday, February 14, 2011

Herb Strather's 60th Birthday

Come Say Happy Birthday To Herb Strather!

Join me (L.J. Reynolds) and other Motor City artists as we celebrate Herb's 60th Birthday and
the launch of our new music label Motor City Hits!

Food, Family, Friends, Music, Dancing, Gaming, Singing, Drinking....A night to remember!

Attire: Black Tie, Gym Shoes

In lieu of gifts, if possible please bring a donation for the Optimist Youth Foundation.

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When: Friday, February 18 from 08:00 PM to Saturday, February 19 at 02:00 AM

Where: St. Regis Hotel3071 West Grand Boulevard Detroit, MI 48202
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Visit http://www.herbsdeal.com for a FREE Report!

See Me on these Other Sites:

http://herbertstrather.blogspot.com/
http://detroitmultifamily.blogspot.com/
http://apartmentinvestingdetroit.blogspot.com/
http://apartmentinvestingmi.blogspot.com/
http://miapartmentinvestingcourse.blogspot.com/
http://apartmentinvestingcourse.blogspot.com/
http://apartmentinvestingmichigan.blogspot.com/
http://realestatetrainingmi.blogspot.com/
http://realestateinvestingmentor.blogspot.com/
http://multifamilyinvestingmi.blogspot.com/
http://detroitmultifamilyinvesting.blogspot.com/
http://investincommercialrealestatedetr.blogspot.com/
http://commercialrealestateinvestingdetroit.blogspot.com/

Wednesday, February 9, 2011

Commercial Real Estate Event - Live Streaming Video

Join us on Saturday February 12, 2011 for the Commercial Quick Start Event.

Herb Strather will be live explaining the benefits of Commercial Real Estate Investing
from 9 AM to 3 PM.

FIRST TIME EVER!!
This Event is going to be streamed live via Internet

Reserve your seat now: http://bit.ly/i0gXr3

Agenda

1. Why Commercial

2. Types of Commercial

3. Finding Deals(Blitzing)

4. Building Your Team

5. Building Your Balance sheet

6. Underwriting the Deal

7. Closing

8. Property Management

9. Exit Strategies

Friday, February 4, 2011

Tuesday Night Webinar

Tuesday, February 8, 2011 8:30 PM - 9:00 PM EST

https://www3.gotomeeting.com/register/191422150

In order to get the word out about my Commercial Quickstart Event that's taking place Saturday, February 12th, I'm doing a short webinar about my new special report: THE 8 THINGS YOU MUST DO TO GET READY FOR THE UPSWING. In this webinar I'm going to share with you 8 VERY IMPORTANT things that I want you to do, so that when real estate market pick up your not kicking yourself for missing the boat.

https://www3.gotomeeting.com/register/191422150

Monday, January 31, 2011

6 Tips to Maximize the Value of your Apartment Investment

One thing I like most about apartment investing is that it gives any investor
the ability to have a solid cash flow via multiplied profits. Additionally, I
want to find a way to increase those returns and ultimately, increase the
overall value of the commercial property. How can I do that? Using the concept
of forced appreciation, investors can make low- to no- cost changes and
receive huge returns. Here are a few key ideas to maximize the value of your
multi family real estate investment.

Raising the Rents for your Apartment Tenants

Many apartments aren't being rented at market value. In fact, what you'll find
is that many apartment complexes (especially those managed by the owners
themselves) are rented for 10% – 20% below market value to attract and keep
tenant's long term. This is a great strategy and one that is easily executed
however, keep in mind that the leases must expire before you can raise rents.
So during the due diligence period having the lease expiration on there. For
apartment complexes, this period can be anywhere from monthly to annually.

Decreasing Operating Expenses at your Apartment Complex

Look for opportunities to decrease the operating expenses. By that, I don't
mean that you should be "cheap" and cut costs on maintenance and repairs that
need to be done to keep your apartment complex up to date. I also don't mean
that you should take on property manage responsibilities yourself. What I mean
is that there are improvements that should be made such as installing energy
efficient windows and lighting, and digital thermostats that save you money on
your utility bills. You can also find cheaper alternatives for marketing your
property; you can shop for lower insurance coverage. Decrease your operating
expenses, but don't be cheap about it, be smart about it.

Improving Tenancy Rates

While there is no one single trick to improve tenancy rates, every investor
still has to find ways to tackle this challenge. First, take a look at the
tenant base of your apartment building. This will give you a good idea of who
is attracted to renting in your apartment building. This rental information
will then help you strategize your advertising and marketing efforts to
attract qualified tenants that are looking for the living experience your
apartment complex offers. I would also consider going beyond traditional print
advertising methods and include social media marketing.

Changing the Tenant Base in your Multi Family Investment

Some apartment buildings have tenants who aren't the best for your complex.
These tenants often include those who make late payments, no payments, have
been evicted multiple times and those who are involved in criminal activities.
These kinds of tenants not only affect your NOI, they also won't help you
attract tenants who are the exact opposite. Start to get rid of these kinds of
tenants and focus on doing what it takes to attract your target tenant
profile. This may mean that you'll have to invest in repairs and upgrades, but
in the long run, it'll pay off big time.

Upgrading your Multi Family Investment

Contrary to popular belief, upgrading your apartment complex does not always
include having major renovation work done. While there is often, cost
involved, the financial impact can be minimal compared to the returns you'll
receive. Some low-cost upgrades could be replacing property signage, upgrading
the landscaping, and repaving the parking lot.

Adding the Extras

There are other opportunities that will not only add convenience for your
tenants, but it will improve your NOI. These amenities include things like
vending machines for items like videos, soft drinks, and laundry products. You
might also consider adding larger scale opportunities such as laundry
facilities, parking, and storage facilities. These added amenities will make
your apartment building more attractive to potential renters and help retain
current renters longer.

Forced appreciation is a powerful strategy any investor can use to gain
multiplied returns on their apartment complex investment. Among their options,
investors can do simple things such as raise revenues, decrease operating
expenses, upgrade the building, and add convenience items for sale to your
tenants. These changes are relatively easy to make and often have low or no
cost. Like any real estate investment, each commercial property is unique and
I recommend that you research your options thoroughly to determine which
changes suit your property the best.

See Me on these Other Sites:

http://herbertstrather.blogspot.com/
http://detroitmultifamily.blogspot.com/
http://apartmentinvestingdetroit.blogspot.com/
http://apartmentinvestingmi.blogspot.com/
http://miapartmentinvestingcourse.blogspot.com/
http://apartmentinvestingcourse.blogspot.com/
http://apartmentinvestingmichigan.blogspot.com/
http://realestatetrainingmi.blogspot.com/
http://realestateinvestingmentor.blogspot.com/
http://multifamilyinvestingmi.blogspot.com/
http://detroitmultifamilyinvesting.blogspot.com/
http://investincommercialrealestatedetr.blogspot.com/
http://commercialrealestateinvestingdetroit.blogspot.com/

Let's Get Social:

http://www.facebook.com/herbstrather
http:/www.linkedin.com/in/herbstrather
http://www.youtube.com/herbstrather

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Thursday, January 27, 2011

5 Unique Ways to Fund Your Next Detroit Multi family Deal

Visit http://www.herbsdeal.com for FREE REPORT

Despite the current slump in the housing market, it can be the right time to acquire funding for multi family or apartment building real estate. I got into the real estate game when I had no money so I had to do deals creatively, but I have developed systems that allow me to not only survive the slump, but profit from it. We all know the time to buy is not when you hear everyone saying it a great time to get in the market. We are in the best time in history to get into commercial real estate i.e. Multi Family investing. Because I had no money in the beginning I still creatively structure deals were the student doesn't have to bring money to close, but get cash at closing. There are many ways to go about funding your next real estate deal, but today I would like to focus on private investors, grants, sellers, selling other assets, and loans.

Private Investors:
If you can be provided with an opportunity to sit down with someone who is willing to entertain putting forth a little investment capital for a possible venture, wear your best suit and tie. Have a professional proposal detailing your outlying costs and show the bottom line of your profit margin. Chances are your investor will be looking for a faster return on their money than a financial institution will.

Grants:
The government dishes out billions of dollars each year in grants to those seeking funding for real estate ventures. This is mainly because one of the government's main duties is to provide housing for U.S residents (apartments). There are not only federal grants for which you can apply, but also state level grants as well. Now, getting grants is a lot of work and takes time, but what would be better than getting free money to fund your real estate empire. In fact, we are closing on a deal right now that we are selling to a local housing agency that will lose their grant money if they do not purchase by the end of the year.

The Seller of a multi family complex:
Yes, you can possibly obtain the money needed for a property from the seller. It may benefit the seller more to finance your purchase than to face foreclosure or bankruptcy.
One thing you have to understand is that in the next couple of years there is about 1 trillion dollars of loans on commercial property coming due that cannot be refinanced. That is a HUGE opportunity for you!
In some instances the seller is willing to add additional money to the price of the property to account for the down payment and the closing costs. This additional money can sometimes be paid back with cash flow from the property after purchase. It may require an increase in interest to carry that money on your balance; however it will buy you some time to earn more capital. Another trick is to make the seller your partner in the deal, that's right make in a partner and cash him out that way. More on that later.

Selling other assets:
If you feel strongly about entering in to the market and have tried other avenues to obtain capital; you may think about liquefying any available assets. You can cash in any stocks, bonds or other savings. Take your 401K and turn it into a Self-Directed one so that you have funds to possible invest in other peoples' deals. However, seek professional guidance before making this move. We always need to think through our investment goals from how to get a deal to the proper exit strategy!

Loans for apartment investing:
If all else fails, it is still possible to obtain a multi family loan from a bank or credit union. You may be required to possess a higher credit score and/or have substantial collateral to convince the bank to fund your apartment investment. In this instance you may or may not receive the full amount necessary, and will also need to consider the interest rate that will be assessed above the loan. This will be essential when completing a bank proposal.

The right way to fund a deal is different for each circumstance. As an investor it is important to be able to use all the tools necessary at your disposal to get the deal done. Understanding all your options enables you to be the investor that gets the deal done. Once you establish yourself as a closer the deals will start to knock on your door.

Visit http://www.herbsdeal.com for FREE REPORT

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Tuesday, January 25, 2011

5 Reasons Why Commercial Property Owners are Motivated to Sell

Visit http://www.herbsdeal.com for FREE REPORT

In Real Estate the thing you may here the most is location, location, location. Why, that may be true the other factor is Motivation, Motivation, and Motivation. What is the motivation of the seller? With some sellers their motivation is very easy to spot, such as foreclosure, going out of business, losing a major tenant, etc. But, sometimes getting to the real motivation takes a little digging deeper. Below I have listed 5 reasons that motivate a commercial building owner to sell. Over the years these are the most common that I have ran into while in the business.

1.Building Problems
a.Old Properties
b.Neglected Properties
c.Poor Quality Tenants
d.Not Enough Money
e.Not Enough Time
2.Owner Problems
a.Tired of being a landlord
b.Lawsuit Pending
c.Job Transfer
d.Job Loss
e.Divorce
3.Life Changes
a.Health problems
b.Age
c.Wants to sell to start another business
d.Partnership splitting up
4.Financial Problems – Hardest to Identify
a.Balloon payment pending or past due
b.Vacancy too high
c.Death of partner
d.Lawsuit
e.Bank calling note due
5.Other
a.Upside Down
b.Negative Cash Flow
c.Taxes To High
d.Need Cash
e.Property Too Small
f.Property Too Far Away
g.Lost Major Tenant

To become a Master in the real estate business you need to be able to not only identify motivation of the seller but how to use it to your advantage to get the deal. Knowing what is motivating the seller will give you knowledge into what the seller really wants; it may not be to sell the property, it may not be that he/she needs the money. You become a Master when you are able to solve the problem for that seller - whatever that problem is.

This and other techniques are discussed in my Cash at Closing Blueprint course and the accompanying 8-Week mentoring class. In the class the student will learn firsthand through real life examples of what is working in today's' real estate world and how you can profit from this commercial real estate business.

Visit http://www.herbsdeal.com for FREE REPORT

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Friday, January 21, 2011

3 Things to Accomplish in Finding Your Passion

Visit http://www.herbsdeal.com for a FREE REPORT

The meaning of success depends on the person who is asked to define such. For some, this all boils down in finding your passion. And once that is achieved, they already feel successful with whatever ventures they have decided to take. But this is not as easy as you think it is.

When you are young, you think that anything is possible. As you dare to try things, you will achieve what you want to happen eventually. If you are older and you find yourself stuck at a point where you feel like you have nowhere else to go, this may be harder. You have to clear your mind of all the negativity that clouds your emotions. You need to take bigger risks and claim more than what you think you deserve.

Steps towards Your Goal

However hard the road ahead of you seems to be in order for you to get nearer to your passion, you must always be ready to take the necessary steps towards it. Here are some things that you can do in this regard to help you with where you eventually would want to go.

1. You must engage yourself in a self assessment process. You have to think about things. What have you gone through to reach this point in your life? Where are you right now? And what else do you want to happen? How do you perceive yourself two to three years from now? If that is not possible to happen that soon, what do you want to be maybe five or 10 years after?

After you have clearly seen the person that you want to be after the years that you have allotted for you to achieve that, you must look into the steps that you are undertaking to make sure that it will happen. You must review the steps that you are doing to make sure that you will become that person.

You will feel it inside you if you want to accomplish something so bad that you are willing to do anything to get there. This is when you feel like you have no more time for other things that won't help in order to become who you eventually want to be. One sign that you are at this point in your life is when you start reading articles and topics that can help you be more aware about your goals and ways to get there.

2. Your goals must be very clear to you. You know what you want to happen. You know how to get there. Verbalize your thoughts. Is that what you really want to achieve? Your words should match exactly how you feel.

3. You must not be too hard on yourself. You should keep your goals simple. And you must set each step that you will undertake easier to accomplish. This way, you will not easily give up when you are presented with unexpected situations.

Once you have settled your mind in doing the necessary steps for you to reach the goals that you have set for yourself, just proceed with it. You should not stop no matter what happens. This is something that you have to do in order to be at a happier and more fulfilled state.

After you have taken the steps in finding your passion, you must cherish your actions. You should also take good care of whatever you will eventually achieve to make sure that your hard work is rightly rewarded.

Visit http://www.herbsdeal.com for a FREE REPORT

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4 Essential Reports You'll Need From Your Property Management Company

Visit http://www.herbsdeal.com for a FREE REPORT

Once you have a property manager or management company in place to manage your apartment complex, you'll need to be able to track their performance and the performance of your complex. There are four reports that are essential to tracking a property manager's performance. The information from these four reports will assist you in evaluating the job that your manager is doing and will alert you to whether changes need to be made. Let me say right here that these 4 reports are needed at a minimum from any property management company, and if you are not getting these from your current manager, ask for them.

The first report is called the Profit and Loss statement. This is a standard report of income from the previous month and expenses so you can see your Net Operating Income (NOI). This report should be in your hands no later than the 6th. of each month so that you can make adjustments right away.

The second thing you'll need to review is the check register. You want to see what checks were written from the previous month. You can see where the checks are going and then ask the manager about checks that seem out of the norm. You also get an idea of whom the vendors are and you can question things that you do not recognize. The check register can also alert to you any other problems with the property. For instance, if you see an increase in the number of checks written to the plumber, you need to determine what the reason for that is by asking the manager.

An occupancy and traffic report can help you analyze where your tenants are coming from and what marketing campaigns are most effective. This report can alert you to which units are empty, rent ready and which ones are not. The worst thing to have happen is to have vacancies that are not rent ready and someone shows up who is ready to move in that weekend.

You can create the occupancy and traffic report using an Excel spreadsheet. Your on site manager then fills it out on a daily basis. Each row is a day of the month and each column includes number of calls, number of showings, number of applications sent out, leases signed, follow ups, referrals, leads from ad sheets, leads from signage, leads from walk-ins, and leads from merchant coupons.

By looking at this report, you can see the relative amount of activity. If you are getting activity but not converting, then you need to find out why. That tells you that you need to re-evaluate your process and/or hold the manager accountable.

The fourth report is the work order report (Maintenance Report). When a tenant calls in with maintenance problem there should be a work order filled out that begins the process. A work order summary log should include all the information about the work to be done, the date and time the tenant called, etc. The maintenance work order log lets you know that your tenants are being taken care of.

Whoever is managing your property needs to have a work order log. You want to see how long it takes for a work request from a tenant to be completed. You don't want the tenants waiting a week for things to get done. Customer service must be a priority with your tenants.

These four reports help you to monitor the overall health of your property. Good property management is the backbone of retaining good tenants and keeping your property manager accountable is crucial to your property being a money-maker for you.

Visit http://www.herbsdeal.com for a FREE REPORT

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3 Things to look for in a Commercial Real Estate Deal

Visit http://www.herbsdeal.com for a FREE REPORT

The most important part of commercial property investing is finding the deal(s). The person who controls the deals holds the "keys to the kingdom". Every business has two core elements: marketing and innovation. With commercial properties, you are always marketing for three things: the deal, capital and tenants.

Finding the deal is the biggest and most exciting part of the real estate business, I think. It is simple but it is not necessarily easy. I love the research and the searching part of it. The discovery part is fun as well. And I love finding out who actually owns the property, because I may already know that person and that makes negation even better.

First you need to get in your head exactly what you are looking for as an investor. And that is you are looking for a motivated seller. You are looking for an owner who is ready to move his property on very advantageous terms. You are looking for deals that have "value plays". You are not looking for a seller that is thinking about selling, or that is not ready to sell. Take it from me, you can't convince somebody to sell if they don't want to - Just move on!

"Value plays" are items that you can improve quickly and capture the increase in NOI, such as increasing occupancy, enforcing late fees, charging for lost keys, and creating equity. The property you are looking at is priced under market and you can create quick value by acting on the "value plays" that you see. Most value plays are the result of a tired landlord, a motivated landlord and seller that you need to find.

Some reasons why an owner might sell at a discount are landlord burnout, a need for cash or poor property management by a third party. Again, the "why" does not matter; it has no bearing on the situation. Your job is to find people who are eager to sell at a discount.

The second thing you market for when pursuing commercial real estate deals is tenants. Marketing for tenants is what your property manager will take care of for you. But you have to be aware that if you do not keep your properties full, you are not creating value. If your property manager is doing his or her job effectively, then your occupancy rate should reflect that.

The third thing you market for is capital. There can be cash in the deal but it is an investor's cash and not yours. Or there may be no cash in the deal when a seller does all of the financing. You are always going to be attaching capital for and to your deals. As you do this business more and more people will know who the deal makers are and you will get noticed. Your first couple of deals may be skinny for capital, but just close one deal and see what happens.

Your ability to market for deals, tenants and capital, will greatly affect the types of deals you find and affect your ability to move properties. Do not neglect the importance of marketing in your commercial real estate investing business.

Visit http://www.herbsdeal.com for a FREE REPORT

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Wednesday, January 19, 2011

Come Here Commercial Real Estate Master Herb Strather Speak!

Come here commercial real estate developer Herb Strather speak
about how you can Thrive & Survive in this recession.

Listen as Herb tells you how now is not the time to be sleeping,
but buying commercial real estate, in particular apartment
buildings, with little money out of pocket.

Herb will tell you of the latest deals that he is working on and
how you can get involved with his own Strather Academy.

To Recap:

Date: January 20, 2011

Time: 6 PM Eastern

Place: Wayne County Community College Eastern Campus
       in the Cooper Room
       5901 Conner Detroit, MI 48213

Cost: FREE

Link to map:
http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=5901+Conner+Detroit,+MI&sll=37.0625,-95.677068&sspn=40.732051,107.138672&ie=UTF8&hq=&hnear=5901+Conner+St,+Detroit,+Wayne,+Michigan+48213&z=16

Seating is limited so call Mark Maupin to reserve your seat;

at 248-762-0800

or email him at maupin.mark@gmail.com

See you there!

P.S. Bring a pen and paper for the notes you are going to take!

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Monday, January 17, 2011

5 Vital Tips in Finding Your Passion

Visit http://www.herbsdeal.com for a FREE REPORT

Some people take a lifetime in realizing what they really want to do and where they want to take their journey. It will be best if you will know the essentials in finding your passion while you are still young. This way, you will have lots of time to fulfill whatever you want to achieve and enjoy its effects and benefits as well.

It is not that easy to know what you really want to do for the rest of your life. There are people who end up pursuing a very unlikely route while giving in to what they really want to achieve whenever they have time for it. The reason for such varies. For some, they want to pursue their passion only after they have gone through several failures.

To help you in this regard, here are some tips that you can follow.

1. You should look at things around you. Determine what or who inspire you to achieve whatever goals that you have in mind. They can be your loved ones or a specific person that encourages you to be better. These can also be things. What are the objects that create some sparks and enhance you to move forward? Use these objects and people in order to find out for yourself what you really want to happen. You can list down the things and people or places that may come to your mind when you are thinking about this so that you will keep track of what really matters to you.

2. Think about happy thoughts. Reminisce about the times when you were most happy in your life. What brought about such happiness? What made you happy? And while you are at it, you should also think about when was the last time when you experienced such moment. If it has already been a long time, what do you think caused such state?

3. You have to go back to the things that ignited your passion in the past. Read your favorite book. This may be a great time to find console digging through self-help books. This is especially true if you cannot talk to anyone close to you regarding the matter in ways that you hope to be understood.

4. If you are stuck in a job that you detest and your only reason why you are doing that is for money, then you will have a harder time in getting to know where your real passion lies. You may want to look back at the point before you entered this job. What were you back then or what were you thinking to achieve at that point? If you have already saved enough, you may want to consider quitting your current job. This way, you can allot more time in pursuing the things that you really want before it is already too late.

5. You have to be open to whatever possibilities life may bring. You need to expect more than what you already have for you to acquire such and reach a level beyond your comfort zone. This can be done by being bold enough to take a risk at a time. It doesn't matter how small or how big it is. Once you start following your heart and mind to reach to the point where you think you will be happy and satisfied, you are on the right track. And finding your passion will be easier in the long run.

Visit http://www.herbsdeal.com for a FREE REPORT

Friday, January 14, 2011

Things to Accomplish in Finding Your Passion

Visit http://www.herbsdeal.com for a Free Report

The meaning of success depends on the person who is asked to define such. For some, this all boils down in finding your passion. And once that is achieved, they already feel successful with whatever ventures they have decided to take. But this is not as easy as you think it is.

When you are young, you think that anything is possible. As you dare to try things, you will achieve what you want to happen eventually. If you are older and you find yourself stuck at a point where you feel like you have nowhere else to go, this may be harder. You have to clear your mind of all the negativity that clouds your emotions. You need to take bigger risks and claim more than what you think you deserve.

Steps towards Your Goal

However hard the road ahead of you seems to be in order for you to get nearer to your passion, you must always be ready to take the necessary steps towards it. Here are some things that you can do in this regard to help you with where you eventually would want to go.

1. You must engage yourself in a self assessment process. You have to think about things. What have you gone through to reach this point in your life? Where are you right now? And what else do you want to happen? How do you perceive yourself two to three years from now? If that is not possible to happen that soon, what do you want to be maybe five or 10 years after?

After you have clearly seen the person that you want to be after the years that you have allotted for you to achieve that, you must look into the steps that you are undertaking to make sure that it will happen. You must review the steps that you are doing to make sure that you will become that person.

You will feel it inside you if you want to accomplish something so bad that you are willing to do anything to get there. This is when you feel like you have no more time for other things that won't help in order to become who you eventually want to be. One sign that you are at this point in your life is when you start reading articles and topics that can help you be more aware about your goals and ways to get there.

2. Your goals must be very clear to you. You know what you want to happen. You know how to get there. Verbalize your thoughts. Is that what you really want to achieve? Your words should match exactly how you feel.

3. You must not be too hard on yourself. You should keep your goals simple. And you must set each step that you will undertake easier to accomplish. This way, you will not easily give up when you are presented with unexpected situations.

Once you have settled your mind in doing the necessary steps for you to reach the goals that you have set for yourself, just proceed with it. You should not stop no matter what happens. This is something that you have to do in order to be at a happier and more fulfilled state.

After you have taken the steps in finding your passion, you must cherish your actions. You should also take good care of whatever you will eventually achieve to make sure that your hard work is rightly rewarded.

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Thursday, January 13, 2011

3 Reasons for Failure in Commercial Real Estate Investing

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There are 3 main reasons investors fail in commercial real estate investing: inaction, being cheap, and doing deals that shouldn’t be done. I can’t tell you how many times I hear young, inexperienced investors tell me the reasons why they haven’t reached their goals. Well, it’s time to get out of the slump of wrong thinking and doing what it takes to make this year your best investing year ever. Think of it this way, even if you do only one deal this year, that’s one more than you did last year and basically, that’s a huge financial improvement. And times being what they are, this is the best time to just in when everyone is running for the exits.

Get Over In-action

You’ve been learning the ropes and studying deals. You may have even written some offers, but you find something wrong or something that you feel you need to research further and ultimately, the offer never gets submitted. That is what I call inactivity. No matter which way you dice it, education and research is important, but it’s not the thing that lands you deals.

Here’s how I define activity – Submitting offers is the only way to land deals. I find many new and would-be investors often fear making a mistake and committing themselves to what is probably the largest financial undertaking of their lives. What you should know is that you’re not really committed yet. Submitting an offer can easily be done by submitting a Letter of Intent to Purchase. This is not a binding offer; it’s just a door opener which shows that you’re a serious buyer. The next step is negotiations. If you use the purchase agreement I give you, even if you submit the offer and you find something later you can always get out and get your earnest money back.

Don’t Be Cheap

Many new and inexperienced investors make the mistake of doing things they should leave to the professionals. For example, many try to save money on property inspections, property management, legal counsel, and realtors by taking on these responsibilities themselves. I may own over 3 million square feet of commercial real estate, but I always make sure I hire professionals with credentials and expertise in their field for every deal I do. In fact, I make these professionals a part of my team and I benefit from their experience and knowledge.

I also don’t scrimp on maintenance and repairs. I train my property management company to jump on tenant issues as soon as they come up. Why? Tenants leave because maintenance issues aren’t addressed quickly. I also train my team to be proactive in taking care of property wear and tear like painting, buildings and grounds maintenance and any other issues that affect the image of my building.

Cutting corners on your commercial properties upkeep will not only cost you, but it will also zap you of any time and energy you have left to do other deals.

Don’t Do Deals that Shouldn’t Be Done

Many inexperienced real estate investors also believe that just because they’re making money on a commercial real estate deal, then the deal must be done. That is farthest from the truth! These deals are called sucker deals – anything less than 12% cash-on-cash return is not good. There are also commercial property owners and realtors that will tell you that making more than 11% is virtually impossible in the area you’re thinking of. While that may be true, be conservative and look for other deals.

Cash is king in the commercial real estate industry but that cash has to come as a result of making calculated risks based on the property’s actual performance; not based on what might happen. You may already have heard horror stories of previous so-called investors jumping in on a deal based on what will happen. Don’t get me wrong. There are many speculators who do make money and lots of it, but that’s not the kind of real estate deal that many can financially survive. My point is to invest in commercial real estate based on its actual performance; not based on what you think or you’re told might happen – the key word is “might”.

Taking the failure out of commercial real estate investing comes as a result of setting specific ground rules for yourself as a real estate investor. For example, there are three basic things that inexperienced investors should be careful to avoid: in-action, being cheap, and doing deals that shouldn’t be done. Avoid these activities and make this year, your best year ever investing in commercial real estate.

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