There are many people who invest in the real estate industry. People who seek to purchase commercial property needs to understand the risks and rewards that come along with investing in this field. There are many people that have had great success in real estate investing.Here are few Russ Whitney’s advice for anyone going into the commercial real estate field.
Prepare Checklist-
Many people that invest in commercial real estate want to start making money as early as possible. For construction finance loans can be hard to come by, and if you are starting a building project you need to make sure all of the financing is in order.
Financial Aspects-
Another most difficult aspects of commercial real estate according to Russ Whitney is the financing side. Financing is one of the biggest key to success in commercial real estate. Having a good financing team can go a long way to make things easier for your needs.
Cash Flow-
Cash flow is one of the most important aspects in real estate deal to keep in mind. Even if a property has a lot of appreciation, if the cash flow starts to become negative it will be difficult in the long term. As the owner, Russ Whitney make sure that all of your properties have cash flow coming in for financing your needs.
Plan For Future-
Having a great plan allows you to take a high level approach for the work you are doing. Anyone that does not have a solid plan for their commercial real estate will end up regretting over the long run.
Staying Persistent-
As per Russ Whitney it is always important to stay persistent with your goals. There are many things that can always go wrong in real estate investing. However, if you are able to keep pushing through the tough times you will be much better off over the long run.
Russ Whitney Coach 