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Finding Commercial Deals

Finding Commercial Deals

In today’s market, commercial real estate isn’t what it used to be. With the economy changing and more and more businesses resorting to online methods, we see a shift in commercial real estate. While some may believe commercial is dead, that most certainly is not the case.

More and more, we are seeing distressed commercial properties because a lot of owners are becoming tired landlords in the commercial space and that means there is a great opportunity for investors to come in and change the dynamic.

So how do we find commercial opportunities? It is different than residential. Here are some ways to find commercial properties:

Brokers

Commercial real estate brokers can connect you with distressed sellers and properties for sale. They have the licenses to get you the information you need.

Lenders

Community banks, mortgage brokers and other types of lending institutions may be able to connect you to a hard money or private money lender. A lot of the private money and hard money lenders have commercial properties or are in a network of people who have commercial properties.

Commercial investing websites

There are several commercial real estate investing sites, but a big one is Loopnet.com—that’s where you’ll be able to narrow your search and filter out what you’re looking for.

Direct mail

Don’t ever underestimate the value of a good mail or email campaign. If you have a network of people already, an eblast can work wonders. If you don’t, then once you identify distressed properties for sale online that you have interest in, target your listings through a direct mail campaign. REI Blackbook is a great resource to create that campaign.

If you include some of the ways above in your search for any type of real estate, you’ll be amongst the many real estate investors who do this professionally.

Areas of Review

Takeaway

Big picture takeaway points

  1. With the economy changing and more businesses resorting to online methods, we see a shift in commercial real estate.
  2. Seeing a distressed commercial property means there is great opportunity for investors.
  3. Finding a commercial property is not the same as finding a residential property.

Reflection

Self-reflection questions to think more about the content

  1. As I grow in my real estate business is commercial properties in my plan?
  2. Am I familiar with my market? Start to research websites like loopnet.com to get a better idea of what is for sale in your market.
  3. Do I have the training? Education is key. Have you thought about taking Legacy’s commercial class?

Join Legacy’s Building Wealth Club today and continue your journey. Let our education and experience lead the way!

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