If you’re looking to purchase an investment property, whether it be a residential single-family home or a commercial building, the purchasing process is very similar. While there are some differences between the two processes, I thought they are close enough that I thought we should take a quick run through to get a discussion in place for future articles.
Read MoreWe spend our lives with risk.
There is everyday risk like driving to and from work, school, or some event with our spouse. At any moment, we put ourselves on the road with other people who may or may not be in full control of themselves whether it be from alcohol, lack of sleep, or relationship induced stress. Some of these people are just plain morons who should not be allowed to drive - but they're given a license anyway and we willingly chose to get on the road with them.
Read MoreBecoming wealthy is not something that happens overnight. Sure, some people win the lottery or have a windfall of money from an unexpected inheritance, but you should not be holding your breath for something like that to happen to you.
Read MoreMy girlfriend asked, “What advice would you give my niece about investing in real estate?”
“Good question,” I said, the wheels turning.
Read MoreWhen I purchased my first commercial building, I was a property manager. Therefore, it was natural for me to accept the same role for our investing group. It dove-tailed nicely into my day-to-day routine. I could field calls throughout the day for my own property as well as from the portfolio I managed. Everything rolled together well. It was a comfortable fit.
Read MoreIn late 2016, we bought a 10,135 square foot retail building in Deer Park, Washington. At that point, it was the largest and most expensive building I’d been a part of acquiring. Quite frankly, I was a bit scared that we could pull it off. Up until then, the most expensive building I had purchased with partners was $390,000. The building we were contemplating was almost four times that price. It made my heart race considering it.
Read MoreI’m going to rant against some of those in the financial services industry. You see, I’m a commercial real estate broker who loves the product he represents. My clients can see and hear my enthusiasm when we talk about their needs, whether it be buying, selling, developing or leasing.
Read MoreIn May of 2017, a tenant at our Rosewood Retail property moved out. Spokane Vitamin Supply had been in the building for more than forty years.
Read MoreRoughly six years into the ownership of our Rosewood Retail property, one of the partners decided she wanted to sell out. A couple years prior, Bobbi (not her real name) had gone through a divorce and a year later relocated to another state. She was involved in another partnership with us and had chosen to sell her portion of ownership earlier. It had gone very well for her as detailed in The Little Property That Could – A Partner Wants Out.
Read MoreAs time moves forward, things will change at any investment property. You are incredibly lucky if your tenants stay in place for a multitude of years and steadily pay rent. This reduces the associated costs and headaches of vacancies.
Read MoreIt’s embarrassing to admit, but when I was a property manager, I didn’t know how to invest in commercial real estate. In my area, most property managers don’t own investment real estate. I’d imagine that trend continues beyond my part of the country. Perhaps it’s because property managers spend so much of their work time around real estate that they don’t want to do it on their personal time. Maybe it’s an employee versus entrepreneur mindset that holds them back. Whatever the reason, it’s a strange reality to encounter.
Read MoreIn December of 2015, my real estate broker sent me a listing for a single-family home on the north side of town. You may be asking yourself, “Wait, isn’t this guy a real estate broker? Why is he working with another agent?”
Read MoreSo, you’re interested in redeveloping a commercial building? You want to buy a vacant property, rehab it, tenant it and then start collecting rent. That process is called “adding value” and it’s awesome. Congratulations! It’s one of the most fulfilling experiences in commercial real estate investing.
Read MoreIn the days of muskets, soldiers carried gunpowder separately. To ensure that the powder would ignite when the need arose, the soldiers took special care to protect it from moisture. Anything that would dampen the powder could put the soldier’s life and, the lives of those around him, at risk.
Read MoreI read an article recently wherein the writer stated that all debt is bad. I paused on his stance and reflected for a bit. It seemed extremely militant. I’m not saying the author can’t take that position, it’s just that I don’t agree with him.
Read MoreOne of the fascinating things about Robert Kiyosaki’s Rich Dad, Poor Dad was the idea that the wealthy teach their kids different things than the poor or middle class.
Read MoreHow do you get to work? If you’re like me, you are one of the multitude who needs to get to an office via car. I’ve taken steps to work remotely a couple days a week so those necessary trips have been reduced.
Read MoreIn the summer of 2010, my investing partner cold-called the owner of a small office building. It was located on Trent Avenue and had a small, clean warehouse with it. As the area changed over the past forty-plus years, it had become eclectic. Industrial users are mixed in with ethnic restaurants, specialty retailers looking for cheap rent sidle up next to little office buildings.
Read MoreI first read Robert Kiyosaki’s Rich Dad, Poor Dad about a decade ago. I got fired up about the ideas that Kiyosaki presented, but my personal financial habits were a mess and the idea of getting into real estate investing seemed so far away.
Read MoreBruchi’s Cheesesteaks is a local favorite. Serving subs and cheesesteaks since 1990, they’ve grown to seventeen locations and recently opened a store in Sacramento, CA. Bruce and Susan Greene have done a great job with the company, especially with new competition from national sandwich franchises coming into the market.
Read MoreA blog focusing on growing wealth through commercial real estate investing and developing along with aggressive savings and personal responsibility.
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