“Winning is everything, to win is all there is. Only those poor souls buried beneath the battlefield understand this.” — Navy SEALs
My wife and I went out to dinner last Saturday evening to a great steak house with my friend Tom and his wife. Tom owns over $6,000,000 in apartments and commercial investment property and has been in the real estate business for a long time.
During our swordfish appetizer we were talking about how he gained an additional $40,000 in cash flow in one year from just one of his properties. He told me how he discovered that it could produce $40,000 more in cash flow and how much work, effort, time, etc. that went into it.
Let me tell you, it was about a weeks worth of work.
After I grilled him on what he did exactly he asked me a very interesting question.
“Why do we find a lot of great properties to invest in, and you hear a lot of others complaining that they can never get into a great property?”
Good question. I had the answer too. But before I go there let me ask you something…
Are you ever getting the feeling that you are missing out on great commercial investment properties? I am talking about apartments, shopping centers, etc.
The main reason you probably feel this way is because you keep hearing about the person that found a sweetheart deal. You keep hearing about all of the people that keep finding these deals, but none of these deals seem to find you?
Does that sound about accurate?
Why? Why does that happen? Why do all of the good properties go to someone else? Why do folks like my friend Tom find these kinds of properties while others do not?
One word: INFORMATION.
- They know a great deal when they see it.
- They know how to make it an even better property.
- They know what is in store for them, including the ‘rewards' once they take action.
They know. The main reason people do NOT find the great deals, do NOT make more investments, and in general, get frustrated is that they do not have the necessary information to know where to find the great properties, how to analyze them, and then how to buy and manage them for large profits.
They do not know and it is not their fault.
Why? Because they do not know what they do not know – if you follow me.
So, your first and ONGOING goal should be to gain as much information as you can about profiting from commercial real estate. Do not let the lack of information you may have get in the way to large investment profits for you. The formula is simple, then you must be sure to back it with action:
- Make sure you are attending good, solid seminars on commercial real estate investing.
- Make sure you are in the market, doing research, really working at this.
- Consciously make it a point to become a smarter investor.
- Get around others that are already successful investing in commercial properties.
- Work with a good commercial broker, and get as many deals in front of you as possible to analyze.
It all starts with information. You have to get it in order to use it, especially when it comes to investment real estate. It will take time and effort to achieve, and is well worth it. I can say from experience that the spoils will go to the people that have the correct information and take action on it when the time comes.