T I P S F O R I N V E S T I N G I N C O M M E R C I A L R E A L E S TAT E

G A R Y R I C H E T E L L I :

• When people first start to get involved with real-estate, it is often when buying a single-family house.

• However, many people overlook the benefits of investing in commercial real estate either in their area or across the country.

• There are plenty of reasons why you should get involved in commercial real estate - from making profits to helping an area develop exponentially in a positive way.

• Regardless of how big or small your investment is, here are a few tips that will help you reach more success as you explore the world of commercial real estate…

• The first step when it comes to investing in commercial real estate is to think big, especially if you are getting involved with commercial financing.

• It’s important to note that the more units you buy, the cheaper they will be per unit.

• Most commercial real estate investors recommend buying properties that have at least 10 units.

• Next, remember to take your time. Unlike investing in a single-family house for the first time, commercial real estate deals take much longer to purchase, renovate, and sell.

• Try not to rush through this process, as you will be more prone to making investment mistakes if you do so.

• An article published by Nu Wire Investor suggests to “think of commercial deals as big bonuses or your retirement vehicle, not a way to create quick cash to pay the bills,” (10 Tips for Investing in Commercial Real Estate).

• While we’re on the subject of time, be prepared to spend a lot of your spare time focused on your commercial real estate investment, especially if you are new to the field.

• Houses all tend to be very similar, so if you’ve gone through a few processes of buying and selling residential real estate, you’ve probably noticed how quickly things get done your second and third time buying and selling.

• This is not true with commercial real estate.

• It will take the most time at the beginning, when you are deciphering between deals and making offers - just make sure you stick it out and know that things will get easier as time moves on.

• Remember, investing in commercial real estate is a learning curve and a time commitment, so give yourself some slack if you think things are not going the way you planned.

• For more information about investing in commercial real estate, read Nu Wire Investor's article here.