In Lesson 2 of the Commercial Property Training series, Ron discusses what to look for in commercial property, and how to quickly prescreen properties based on the math.
Lesson 02 – What I Look for and Why…Using Math to Prescreen
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This was a good overview; I can’t wait to get deeper!
Was really good
@Kevin how’s it going so far?
Rons been doing this for so long he knows the ins an outs of everything. One of my mentors said once that the more mistakes you make the more you learn and then the more you learn the more successful you will be and I fully repect that statement. It seams like the more mistakes you get the more success you have too.
Makes good dollars
Great stuff!
Great indeed
Like it a lot
@KJ Roberts have you tried anything yet?
So,the thrust of this lesson is:
“If asking is well below market find out why and (maybe) go look”
I’m wondering if the 200 unit vacant apt. complex could now be negotiated down in price further and then wholesaled to someone who wants to tackle that humongus renovation?
Theres always a reason for well below market, you gotta find out why
Knowing why is the reason you CAN wholesale it as long as it can be overcome with the right moves by the rehabber
That is a very large renovation
@KJ Roberts maybe not the right choice for 1st time out
But the math is good practice for anything
That is a very large place. Have you ever done a commercial deal of this big ever before? Better know your numbers before you do anything. Has Ron replied to you at all yet?
Hope all goes well with this deal you are pursuing.
Wondering if they could’ve rehab the 200 unit and write down the 27.5 year depreciation to recoup most their money back.
your the man Ron. absolutely amazing. thanks.
If he’s not the man he plays him on TV!
That’s for sure
After listening to what kind of commercial property to by I realized that I have past up many opportunities. I will be looking at commercial properties diferently from now on. Thanks Ron this was a good lesson. Mario Acevedo, Washington State
@Mario Acevedo You’re right we all have been missing them
We all have
After listening to what kind of commercial property to look I know could be negotiated down in price Thank you Ron
Thank you Ron. The three lists that you gave are very informative and inspiring. I feel better equipped for my commercial property research. Mario Acevedo, WA. State
I agree with Mario too
Great lesson Ron….
@Aaron Williams it is great have you tried anything yet
Thanks Ron.
good work Ron
good lesson Ron
Great Video Ron!
Loved it all.
All the best!
Edward
Look for properties with a problem(s). Stay away from pretty properties. Stay away from war zones, unrealistic owners and unrealistic prices. Good start. Thanks.
@John Rogers did you find any
This is a good lesson, even thou the math part, somewhat, was the cap rate with no numbers. This lesson will save a lot of money for me. Thanks, Ron.
@Stanley Chambers did you make any offers yet
Excellent review.
Thanks for the quick prescreen tips.
For the Memphis property, why couldn’t you have the contractor go an do the inspections and estimates alone and/or have somebody send you video? Perhaps even do live feed of the video?
Its much better to have more than one set of eyes on it
There’s also the old saying: Never ask the barber if you need a haircut. By sending the contractor or someone you are going to hire to do the work to be your initial eyes and ears it puts you behind their agenda. You need to see the property and know the requirements, budget, etc – it’s your money and your project. Get their opinion, but balance it with yours.
Mr.Ron great start,its getting clearer too my understanding.
getting clearer is what Ron does best
YOu know, I watch these videos over and over again just to make sure I don’t miss anything and every time I seem to find something I missed! lol
Good stuff ain’t it?
Very helpful!
Extremely Beneficial Lesson!
@LaTanya Graves is sure is!
Great Overview – Thank you Ron!
Very informative.
Is 20% vacancy of a 150-unit apartment buildings something to considers and why?
This is great, I have a commercial property listed at this time and plan to go after more. I’m glad I was able to see this.
I’ll bet purchasing commercial properties are easier than buying residential homes.
I bet they are too…gonna find out for sure.
Great information. Especially the part on the cap rates.
good info. Thanks Ron for this video.
And They Owed More That Their Worth.
The path is set, it’s all down hill from here!
Thanks Ron!
Dandavats!
Thanks Ron!
ExSELLent video Ron……
Great advice to know what to look for!
This is a good lesson and very informative.
I have been implementing Rons teaching on single family homes for the last 10 months and loving it! I’m so excited to start on the commercial side:) thanks Ron
This is a great lesson! Lots of information. Thanks for sharing your experience Ron!
Good deal Ron.
You make it look so easy! Thanks!
i like the price per unit concept it makes it easy and more manageable as far as recognizing the dead
Screening quickly will reduce time
I love doing the math evaluation. It makes it a lot easier to know if you have a good deal.
The beauty of the math evaluation is that your decision is really “cut and dry.”
There is no emotion, there is no capacity for error. Either it is good, or it is not!
Was really good
This lesson is certainly worth reviewing and taking some notes.
very interesting
I need to get this information down before I attend the Commercial Property boot camp in Oct.
I like that this business is very straight forward and systematic.
Looking forward to the class. Thanks again Ron!
This is really great to know for a new Comer in this business. I really do appreciate all your training Mr.Ron. Thank you.
Ron, you make Commercial Real Estate look really exciting!
Very interesting