Commercial Real Estate Investing For Dummies (For Dummies (Business & Personal Finance))

I have rental residential property and am interested in learning about commercial real estate. I thoroughly enjoyed Commercial Real Estate Investing for Dummies. The detailed checklists are handy tools and easy to understand. The book explains well the various facets of the business. I just finished reading the chapters on property management and protecting your assets. I learned the importance of limited liability companies. Also, the practical advice of how "mere respect and congeniality" can help in striking deals as well as avoiding lawsuits (asset protection). I would highly recommend this book for those interested in commercial real estate investing. Also, Peter had helped my wife and I purchase our cuurent home. We saved a lot of money but I was struck how intently Peter listened to us and patiently explained various strategies. If you ever get a chance to consult with Peter, you will be treated with respect and an attention to detail for your property. Commercial Real Estate Investing for DUMmIES 1 Table of Contents 10 Introduction 20 About This Book 20 Conventions Used in This Book 21 What You’re Not to Read 21 Foolish Assumptions 21 How This Book Is Organized 22 Icons Used in This Book 24 Where to Go from Here 24 Part I Getting to Know Commercial Real Estate Investing 26 Chapter 1 Just Imagine... Commercial Real Estate and You! 28 What Is Commercial Real Estate? 29 What to Think About As You Get Started 30 Understanding the Risks of Commercial Real Estate 34 Chapter 2 A Crash Course in Commercial Real Estate Investing 38 How Is Commercial Real Estate Different from Residential Real Estate? 39 Why Invest in Commercial Real Estate? 40 What Types of Investments Are Available? 41 What You Need to Get Started 45 Myths and Questions about Investing in Commercial Real Estate 47 Timing the Commercial Real Estate Market 48 Chapter 3 Evaluating Commercial Real Estate 52 Talking the Talk: Terms You Need to Know 52 Figuring Out What a Property Is Worth 54 Running the Numbers on Some Properties 59 The Professional Approach to Valuing Properties 66 Understanding What Creates Value 69 Differentiating a Good Deal from a Bad Deal 72 Part II Getting Started Making Deals 76 Chapter 4 On Your Mark, Get Set, Go Find Deals 78 Discovering the Secret to Finding Great Deals 78 Getting Leads on Commercial Property Investments 80 Looking Locally and Nationwide 85 Locking Down Deals: Don’t Leave Home without These Tools 88 Allowing the Great Deals to Find You 89 Chapter 5 Strategies for Making Offers and Negotiating 94 Increasing Your Chances of Getting Your Offer Accepted 94 Sealing Deals: The Instant Offer System 96 How to Meet the Seller When Submitting Your Offer 105 Writing Up the Offer 106 Presenting Your Offer in the Best Light 109 The Five-Step Deal Filter 110 The Seller Has Accepted My Offer! Now What? 113 Chapter 6 Due Diligence: Doing Your Homework 116 What Is Due Diligence? 116 The First Things You Need to Do 121 Creating Checklists for Effective Due Diligence 123 Managing the Whole Process 128 You Found Problems, What Now? 133 Chapter 7 Closing Your Deal 136 The Anatomy of a Close 137 Closing 101: The Basics of Closing a Deal 137 The Big Picture Show: Questions to Ask Yourself Before You Pull the Trigger 141 Sweating the Details before Signing on the Dotted Line 143 Closing Day: What to Expect 145 Taking Legal Ownership 150 You’re the Boss Now: What Next? 151 Part III Funding Your Deals: Financing and Lending 156 Chapter 8 Conventional Financing Options 158 The Commercial Lending Process in a Nutshell 159 Differences between Commercial and Residential Lending 161 How Lenders Evaluate Properties 163 Getting Your Lender to Say “You’re Approved!” 168 Choosing the Best Loan for You 171 Assuming the Seller’s Preexisting Mortgage 180 Chapter 9 Getting Creative with Financing 182 Creative Financing Techniques 183 The Master Lease Technique 184 Getting Someone to Carry Secondary Financing 185 Getting the Owner to Carry Seconds and Other Secondary Financing 186 Operating the Wraparound Mortgage Like a Surgeon 191 Using an Option to Buy 192 Leveraging the Equity in Your Portfolio 193 Chapter 10 Raising Capital and Forming Partnerships 196 Identifying the Keys to Raising Private Funds 196 Building Your Rolodex of Potential Investors 197 Deciding Whether to Go It Alone or Use a Partner or Two 203 Creating the Right Teams and Partnerships 204 Part IV Day-to-Day Ownership and Operations 208 Chapter 11 Property Management: Who’s Minding Your Ship? 210 I’m the Boss: Managing Your Commercial Property Yourself 210 Letting Go: Using Professional Property Management Companies 218 Knowing How to Be an Effective Absentee Owner 229 Chapter 12 Protecting Your Assets 232 Taking Asset Protection Seriously 233 Building a Legal Fortress for Personal Assets 234 Common-Sense Protection Tips 238 Chapter 13 Why Properties Fail 242 What Is a Property Failure? 243 How You, the Investor, Can Cause Failure 243 How Management Can Cause a Property to Fail 248 How the Market Can Cause Failure 251 Folding Up and Walking Away 253 Tried and True Tips on Surviving and Thriving 255 Part V Kicking Your Investing into High Gear 260 Chapter 14 Making a Success Out of Commercial Fixer-Uppers 262 Just What Is a Commercial Fixer-Upper? 263 Uncovering Diamonds in the Rough 265 Figuring Out What a Fixer-Upper Is Worth 270 Mapping Out a Fixer-Upper Game Plan 274 Avoiding Headaches and Pitfalls (Or at Least Minimizing the Pain) 282 Timing Your Fixer-Upper for a Quick Sale 285 Chapter 15 Land Development: The Heart of Commercial Real Estate 286 The Pros and Cons of Investing in Land 286 Understanding What Makes Land Worth More 288 Knowing Whether You’re in the Right Market 288 Identifying the Three Ps for Successful Projects 291 Investing in Land with a Team 292 Finding the Best Places to Invest in Land 293 With Land, Time Really Does Equal Money 293 Changing the Property’s Zoning and Getting Approved to Develop 297 Getting the Green Light on Your Deal 302 Chapter 16 Expert Tax Advantages and Strategies 308 An Overview of Money-Making Tax Strategies 309 Being an Investor or a Dealer: The Difference Is Huge 311 Naming Yourself a Real Estate Professional: It Pays 312 Choosing Your Entity: An Important Tax Preparation Before You Buy 314 Digging into Depreciation 316 The 1031 Exchange: Avoiding Taxes by Trading In for Another Property 321 Taking Advantage of Some Commonly Overlooked Deductions 324 Chapter 17 Leaping into a Commercial Real Estate Career 328 Becoming a Commercial Sales Agent 328 Making a Go of It as a Property Manager 336 Cashing In on a Commercial Mortgage Business Career 339 Arriving As a Commercial Appraiser 343 Part VI The Part of Tens 346 Chapter 18 Ten Ways to Increase Your Property Value 348 Raise the Rents 348 Budget Your Way to Wealth 349 Give the Property a Makeover 349 Change the Property’s Use 350 Add Goodies to the Property 350 Stand Up to the Tax Man 351 Pass Utility Expenses to Tenants 351 Renegotiate the Leases 352 Bring in a New Management Team 353 Split Up Your Land 353 Chapter 19 Ten or So Easy Ways to Network 354 Get Your CCIM Designation 354 Put Power in Your Search Engines 355 Go Directly to the Investment Firms 356 Read the Trades 356 For Apartment Owners: Join the NAA 357 For Office Building Owners: Get Involved with BOMA 358 For Shopping Center Owners: Enlist with the ICSC 358 For Property Management Professionals: Become Affiliated with the IREM 359 Stay Current and Connected 359 Index 360

Thinking about becoming a commercial real estate investor? Commercial Real Estate Investing For Dummies covers the entire process, offering practical advice on negotiation and closing win-win deals and maximizing profit. From office buildings to shopping centers to apartment buildings, it helps you pick the right properties at the right time for the right price.

Yes, there is a fun and easy way to break into commercial real estate, and this is it. This comprehensive handbook has it all. You’ll learn how to find great properties, size up sellers, finance your investments, protect your assets, and increase your property’s value. You’ll discover the upsides and downsides of the various types of investments, learn the five biggest myths of commercial real estate investment, find out how to recession-proof your investment portfolio, and more. Discover how to:

• Get leads on commercial property investments
• Determine what a property is worth
• Find the right financing for you
• Handle inspections and fix problems
• Make big money in land development
• Manage your properties or hire a pro
• Exploit the tax advantages of commercial real estate
• Find out what offer a seller really-really wants
• Perform due diligence before you make a deal
• Raise capital by forming partnerships

Investing in commercial property can make you rich in any economy. Get Commercial Real Estate For Dummies, and find out how.

Make real estate part of your investing strategy!Thinking about becoming a commercial real estate investor? Commercial Real Estate Investing For Dummies covers the entire process, offering practical advice on negotiation and closing win-win deals and maximizing profit. From office buildings to shopping centers to apartment buildings, it helps you pick the right properties at the right time for the right price. Yes, there is a fun and easy way to break into commercial real estate, and this is it. This comprehensive handbook has it all. You'll learn how to find great properties, size up sellers, finance your investments, protect your assets, and increase your property's value. You'll discover the upsides and downsides of the various types of investments, learn the five biggest myths of commercial real estate investment, find out how to recession-proof your investment portfolio, and more. Discover how to: Get leads on commercial property investments Determine what a property is worth Find the right financing for you Handle inspections and fix problems Make big money in land development Manage your properties or hire a pro Exploit the tax advantages of commercial real estate Find out what offer a seller really-really wants Perform due diligence before you make a deal Raise capital by forming partnerships Investing in commercial property can make you rich in any economy. Get Commercial Real Estate For Dummies, and find out how. Make real estate part of your investing strategy! Thinking about becoming a commercial real estate investor? Commercial Real Estate Investing For Dummies covers the entire process, offering practical advice on negotiation and closing win-win deals and maximizing profit. From office buildings to shopping centers to apartment buildings, it helps you pick the right properties at the right time for the right price. Yes, there is a fun and easy way to break into commercial real estate, and this is it. This comprehensive handbook has it all. Youll learn how to find great properties, size up sellers, finance your investments, protect your assets, and increase your propertys value. Youll discover the upsides and downsides of the various types of investments, learn the five biggest myths of commercial real estate investment, find out how to recession-proof your investment portfolio, and more. Discover how Investing in commercial property can make you rich in any economy. Get Commercial Real Estate For Dummies, and find out how.