Comments on: Commercial RE … first steps!

By: Anatomy of a Commercial RE Investment - Part 1 « How to Make 7 Million in 7 Years™

Mon, 22 Dec 2008 08:58:23 +0000

[...] estate Tags: 7 million, 7million7years, millionaire, money, real estate, Rich, wealth I just answered a question on commercial real-estate investing and thought that there’s no better way to explain the process than by showing [...]

By: Kent Shaffer

Kent Shaffer — Fri, 12 Dec 2008 23:49:19 +0000

@Adrian

Pardon the “advertisement.” I appreciate that you think AcreScout has the potential to be a useful alternative. If you ever have additional feedback, I would love to hear it.

By: Scott

Scott — Fri, 12 Dec 2008 22:13:05 +0000

Great post. Thanks for all the useful info, as this is my next step as well! I have my first residential rental now and it’s been a great experience so far and my plan is to purchase the building that my practice is currently in sometime at the end of the next year when I have the down payment saved up. There is a pet grooming business next door to me in the same building that i’m happy exists because their lease payments will pay a large chunk for my mortgage on the building!

Congrats on making the decision to do this Moneymonk!

Adrian, are the lease terms on commercial RE 10 years only?

By: Adrian

Adrian — Fri, 12 Dec 2008 19:59:57 +0000

@ Kent – I’m not allowed to advertise on my own site, so why should you?! Seriously, I have left the link in because (once you get enough content) your site could be a useful alternative to the other sites that I mention in this article. Good luck with it …

@ MoneyMonk – Yes, spend the next 4 years trying to become best friends with a reliable, investor/broker

By: moneymonk

moneymonk — Fri, 12 Dec 2008 16:58:05 +0000

Thanks. I have not thought about the refundable deposit part.

The main thing is finding a broker that I am comfortable with. I am a virgin to this market, therefore I do not want to be taken advantage of. It’s always best to talk to someone that has already achieved what you are trying to do. A mentor is always good.

By: Kent Shaffer

Kent Shaffer — Fri, 12 Dec 2008 16:17:54 +0000

Congrats on your first US commercial deal!

I just helped launch a new commercial listings site called http://www.AcreScout.com

It is free to sign up, add listings, and search listings. I would love to get your feedback on it.