Let's be honest... Investing the WRONG commercial property can be one of the scariest things for a new (or even seasoned) investor to do. We've all heard the horror stories of buying a property to later find out that it's functionally obsolete.
There's a well known investor (and real estate guru) who invested an office building here in Calgary. The location was very good. And, at the time,was full of tenants paying rent.
There was only 1 problem.
The building didn't have enough parking.
So, as tenants left his building, he wasn't able to backfill with new tenants.
The parking was so bad, he bought neighboring properties for extra parking. But, it was confusing and not convenient for tenants.
Today, this investor has been trying to sell the property now for 3+ years and no one will purchase it.
I'd estimate he's losing $25k/month (carrying costs + mortgage). If/when he sells, he'll take a loss of more than $3M+.
I tell you this because investing in commercial real estate is not something you can just dabble in. There are investing principles and fundamental rules to follow to keep you safe.
The list of 8 Non-Negotiables will prevent you from making some of the biggest mistakes when investing. And, if you follow Warren Buffett- he has 1 rule when investing.
Don't Lose Money.
How do you do that?
Well, there is a sequence of questions to ask before investing in any property. I'll give you those questions and expand on the 8 Non-Negotiables.
Just a few of the things you'll find in this specific bonus training: