Peter Harris
Peter Harris has a passion for teaching commercial real estate investing because of the tremendous impact it has made on his life. Peter had a ""safe and secure"" job as an engineer, making a good living. But he came to realize that his employer wasn't focused on his long term financial future and decided to take matters into his own hands. For Peter Harris real estate was his ticket to financial freedom. With the help of a mentor, he dove into commercial real estate and after acquiring his first apartment community, he discovered that just one big deal could bring in more money per month than his full time job. Soon after doing that deal, he was able to quit his day job and live a life of freedom and choice. Today, he spends his time building up his portfolio of commercial properties as well as working with those in the Protege Program to help them leave the rat race and live the life of their dreams.
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Six Ways to Raise Capital for Your Commercial Deal
Many investors have run into problems trying to find money for commercial real estate deals. Typically a real estate investor will find a great 36 unit apartment building that cash flows $5,000 per month only to soon realize that they will need $200,000 to close the deal. Guess what comes next? They realize they just don’t have the funds to bring to the closing table.Sounds like something you have experience before? I would very much like to show you how to raise capital from private investors using creative investing strategies, self directed IRAs, crowdfunding, peer-to-peer lending, and use commercial wholesaling…
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Learn All About Commercial Leases
One of the most important aspects of investing in and managing commercial real estate includes understanding leases. There are a variety of leases employed by landlords to manage their tenants, and it is necessary whether you are leasing or renting a commercial space that you completely understand the agreement (lease) that you are signing.What is a Commercial Lease?A lease is like a partnership. It outlines how the business relationship between the lessor and the leasee will proceed. Following are some types of commercial leases that you, as an investor, may encounter.The Triple Net Lease (which is abbreviated as “NNN” in…
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Exit Strategies For Commercial Real Estate Investing
Well, first things first, you’ve got to know your exit strategy before you invest in any commercial real estate investment. If you don’t, what you’re telling yourself is that it’s okay to not maximize your cash flow and it’s okay to not maximize your profits when you sell. Knowing only your investment purchasing goals is half the story. You must also know how and when to sell the property.What’s the commonality between an exit strategy and an astronaut?NASA astronauts wouldn’t dare venture up into space and not have strategically planned outcomes and escape plans. A typical outcome may be to…
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Choosing the Right Commercial Real Estate Broker – Part (2)
My wish is for all investors to be successful with commercial real estate investing and selecting and working with the right broker is a big part of that success equation. Eventually, I learned how to relate to them, and I prospered. This is the conclusion of my investing training article on how to “Choose the Right Commerical Real Estate Broker (P1)”How to Start Working With a Commercial Real Estate Broker1. First define what exactly you want them to send you.Let’s define that first. I’m going to define it for you. If you are in the apartment business, I’m going to…
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Choosing the Right Commercial Real Estate Broker – Part (1)
Years ago, I spent several years working for a prestigious commercial real estate firm while researching for my Dummies book. What I discovered is that commercial real estate agents are a different breed. They’re a different breed of people. They’re highly skilled but well-respected. Getting to know how they work and function in their jobs is critical in choosing the right one to work with. Don’t you agree?Choosing the Right Commercial Real Estate BrokerTwo Things I Learned About Commercial Real Estate AgentsThey are Regular People.They are no different than the guys at my gym, at my church, and the guys…
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7 Commercial Investing Myths
Are you intimidated by the thought of buying a commercial property? Well what I am about to share about commercial estate is no more complicated than buying a single family home. Are you thinking that you need lots and lots of cash and perfect credit? Not so the case. In real estate investing article I am going to share 7 commercial investng property myths.There’s no better time than right now to invest in commercial real estate. It’s never too late, no matter where we are in the market. I am thinking of you the single family home investor who wants…
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The True Purpose of Hard Money Loans for Commercial Investing
A commercial or residential property hard money loan is also known as a bridge loan in commercial investing — it bridges you from a temporary situation to a more permanent situation. The goal is to be bridged from a hard money situation to a more conventional situation where you’re going to go from a very expensive interest rate payment per month to something much lower like a traditional bank loan/commercial mortgage or you plan to sell/flip the property fairly quickly.The Five Major Differences Between a Commercial Hard Money Lender and a Conventional Lender1 — Interest RatesA conventional loan’s interest rates…
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Commercial Creative Financing Examples Using Second Carry Mortgage
Have you ever heard of these terms or these phrases before when you’re looking on LoopNet or online listings or getting things from brokers or even sellers? If you’ve heard this before: “seller may carry a small second to help get the deal done”. How about “seller may hold a second” or “owner may carry some paper”? How about “owner may carry”? How about the emphasis “owner financing possible”? I’m sure some of you that are active in the market have seen these terms someplace somehow.What does this all mean? This is actually code language telling you, “Here’s an open…
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Simple Way to Analyze Commercial Real Estate Cash Flow
To get straight to the point, once you find a commercial deal to evaluate, you’ll need to find the answer to this all-important question rather quickly: How Much is the Cash Flow?When you are a new commercial real estate investor, you should familiarize yourself with quickie and easy ways to calculate the cash flow of a potential multi-family or apartment deal.In evaluating any commercial deal (or any income-producing property), there are 3 Steps to figure out Cash Flow: 3 Steps to Cash FlowStep 1: Get the Income per yearStep 2: Get the Expenses per yearStep 3: Get the Debt service per yearThis is…
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8 Commercial Investing Real Estate Terms (Part 2)
When you’re first starting out as an investor, there are lots to learn and there are lots of mistakes to be made. Small property mistakes usually equals small pains. That’s why it’s smart to start off with a small cash flow property. But is very important is to understand the commercial investing industry “slang” and to be able to figure out deal listings on Loopnet.I shared with you Part 1 of “8 Commercial Real Estate Terms Investors Should Know” on my previous blog so you will have all the right information you will need to make an offer on an apartment…
