I have been doing residential Real Estate for some time and I am looking to get started in Commercial

How do i Get started can any one give me some info Thank you.
In General Area - Asked by Tim K. - Mar 16, 2009
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Answer(s)

Nii O.
Owner/Investor
Bethesda, MD

1. Start asking Commercial Agents around you about what they do, how they do it and why they do it.
2. Go online to realestate.about.com and get as much information as you can. Read all you can and when in doubt, ask the experts ... Hang around with the experts to get the feel. Learn all the technical language, how to do the basic calculations, analysis, and the proceedures involved.
3. Then get yourself a mentor and you are ready to get your feet wet.
Good Luck to you
Nii Okai
3.

Mar 16, 2009
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Tom F.
Broker/Agent
Flower Mound, TX

3 upcoming classes on Commercial Real Estate this week and next.
- Intro to Comml Real Esate 3 hrs TREC MCE, Mar 19, 12-3pm
- Comml Contracts & Negotiation 3 Hrs TREC MCE, Mar 20, 12-3pm
- Comml Leases & Tenant Representation 3 Hrs TREC MCE, Mar 23, 9am-3p
Gr. Lewisville Assoc of Realtors, 997 S. Edmonds Ln, Lewisville, TX 75067; 972-221-4606, Ask for Member Services

Mar 16, 2009
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Matt L.
Broker/Agent
West Hollywood, CA

The number one difference between residential and commercial real estate, from an agent's perspective, is knowing how to value property. Commercial property is, historically, valued by the income approach and you must be fully-versed in CAP Rates, Net Operating Income; financing, refinancing and defeasing, which is nothing like residential; marketing, which again is nothing like residential. You can take classes but you have to be sure to hit the financial aspects of commercial real estate and know them inside and out before you represent anyone. The commercial world is simply not built for people who one day decided to get their real estate license. Commercial real estate nearly always involves attorneys (I'm one) and they know the rules inside and out. In order to even have the ability to negotiate you have to be on an even playing field, and unless you have a severely complete understanding of the system, the markets and every consideration that applies, you'll get your client screwed.
This is not for the faint of heart

Mar 17, 2009
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Joe V.
Owner/Investor
Plymouth, MI

If you have been doing residential for some time, then you'll love commercial. Once you know where to get teh financing from you can turn more deals and better ones too. You'll find that commercial, if understood, should be far less risky and easier to get financing. The best thing to do is to find seninars that teach just commercial. The more the better. This will be well worth it since knowledge is power. You'll find you won't use everything from every seminar, and you may even take parts from many and combine into a system that fits for you.

Mar 18, 2009
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Wilson G.
Broker/Agent
Fredericksburg, VA

I have been in commercial real estate for three years. Here's what I did and it has worked very well.
1. Get in at a good brokerage.
2. Get a mentor who is successful and willing to really teach you.
3. After spending some time in the business, maybe a year or so, start the CCIM program. I found it to be very beneficial to have the time under my belt before I took the classes. That way I had language and concepts that I took with me to the classes.
Good Luck.

Mar 18, 2009
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Karen H.
Developer
Beverly Hills, CA

There is a FANTASTIC 2 day course taught by someone named Karen Hanover. She is a Certified Commercial Real Estate Advisor. I took her course and learned sooo much! I bought my first deal, 102 units in Atlanta, GA and even made $200K cash on the CLOSE. I think she has a free online course. Her website is www.cieinst.com. If it's still there, this online course will show you how it all works. It is about an hour long. If not, Google Karen Hanover and call her. She's great!

Mar 18, 2009
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Ian J.
Broker/Agent
Ocala, FL

Dont mess with the local board classes, if you really want to do Commercial Real Estate take the courses offered by CCIM. Take the Intro first to see if it is really something you want to try. I took all 5 courses back to back in about 5 months with some traveling and now have a massive advantage over the the rest of the crowd. When you start to deal with Investors, they will rip you to shreads in seconds if you cant hold a pertinent conversation with them and understand completly what they are talking about. Good luck, get the education now so you are ready for the market rebound next year.

Mar 26, 2009
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Business O.
Owner/Investor
Reading, PA

I found these folks http://TheCashProvided.com to be AMAZING!
Not only were we in the position to get Proof Of Funds ready when needed, we got an AMAZING education from a Pro who has been in the commercial arena since the 80's!
Hope this helps you guys out...

Jul 27, 2009
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