How to Buy Commercial Real Estate ? Investing Tips ? Part 3
Article by Luis Roque
Buying commercial real estate can put you in the ?cash flow? game, especially when you start any new venture with a sense of order. Commercial real estate investing tips can make the difference by helping you organize your thoughts, and assist you in avoiding costly mistakes. It is recommended that you learn all you can about how to buy commercial properties before launching your investment business. Now and then, even seasoned investors benefit from a quick review of the basics. Consider these commercial investing tips as you begin your purchasing preparations:
1) Keep your Finances in Line? This shouldn?t be a secret to any investor, but often, borrowers tend to forget that until a loan is funded, especially now, you ?can?t bank on it.? (No pun intended.) Investors will open up new credit lines or increase balances on their existing lines, or credit cards, and their overall credit will be adversely affected. It is important to keep your finances in order and your credit as clean as it can be. This doesn?t mean that you have to have perfect credit, but it will help you in obtaining the best interest rate and terms possible for your commercial real estate mortgage loan.
2) Third Party Reports? Until you have an ?Offer to Lend?, ?Letter of Intent?, or ?Conditional Loan Approval? do not order any third party reports without lender involvement. Most desirable lenders will need the reports to adhere to their guidelines and will request them on their behalf. This is in part due to the differing guidelines by which lenders issue loans. In some cases a conflict of interest may exist when reports are ordered by any other parties involved in the transaction (buyer, seller, Realtor, even the Commercial Mortgage Broker). Lenders should not request any up-front monies, until they are able to produce a ?Letter of Intent? or ?Conditional Loan Approval?. At that time, if you agree to the terms, they may request a ?Third Party Deposit? to handle the appraisal, environmental report, title, etc?..
Seeking out commercial real estate investing tips is smart as you begin your commercial investing ventures for the first time, or whenever you are approaching a new deal. Getting the cash flow you desire doesn?t happen by accident. Your commercial property purchases can be ordered, intentional, and on target. We hope this third segment of the three-part series on how to buy commercial real estate have helped you in your first, or next, purchase of a commercial real estate property!!
About the Author
Luis D Roque has over 10 years of real estate and lending expertise working for the largest lending institutions in the US. Luis has also worked for investment companies as a consultant to oversee the investor relations, and residential real estate acquisitions departments achieving as many as 50 properties bought fixed and flipped for profit in a quarter. Luis is a managing partner of HIS Real Estate Network residential and commercial real estate buying group.
Luis Roque invites you to learn to earn high and even INFINITE returns investing in commercial real estate with a group (on money you used to have sitting in pathetic CD?s at 4% or less) when you become a Select Member with America?s #1 Real Estate Network today! Join us for an upcoming educational presentation online to get information or to get started now: Real Deal Commercial Webinar http://www.hisrealestatenetwork.com/383:
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