Commercial Real Estate Investing: A Creative Guide to Succesfully Making Money
Dolf de Roos’s Commercial Real Estate Investing reveals all the differences between residential and commercial investing and shows you how to make a bundle. De Roos explores the different sectors—retail, office space, industrial, hospitality, or specialist—to help you discover which is right for you. He shares key insights on finding tenants and avoiding vacancies, financing large investments, managing property, setting a tax-smart corporate structure, and take full advantage of tax breaks.
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Dolf de Roos’s Commercial Real Estate Investing reveals all the differences between residential and commercial investing and shows you how to make a bundle. De Roos explores the different sectors—retail, office space, industrial, hospitality, or specialist—to help you discover which is right for you. He shares key insights on finding tenants and avoiding vacancies, financing large investments, managing property, setting a tax-smart corporate structure, and take full advantage of tax breaks.
Preface xiAcknowledgments xiiiNotes on Reading This Book xvIntroduction xviiJust What Is Commercial Real Estate? 1People versus Contracts 5Why Invest in Commercial Real Estate? 11Lease Duration 11Assignment of Lease 15The Tenants Pay the Outgoings 17Tenants Earn Their Income on Your Premises 18Landlord Pays for Improvements to Commercial Premises 21Certainty of Collecting Rent 22Upward-Only Rent Reviews 24Government Interference 25Management Overhead 27The Downside of Commercial Real Estate 29Much More Difficult to Acquire Commercial Tenants 29Banks Will Lend a Smaller Proportion of a Commercial Property 30The True Value of Real Estate 33How to Overcome the Disadvantages of Commercial Real Estate 41How to Attract a Tenant 45Who Wants to Run a Funeral Business? 45Finding a Tenant for a Warehouse in an Oversupplied Market 50The Power of the Internet 55Many Prospective Tenants KnowYour Building 56Engage a Real Estate Firm or Property Management Company to Find a Tenant 59Wait for (or Cause) a Zone Change 60Split a Single Tenancy into Multiple Tenancies 62Consolidate Multiple Tenancies into One 64The Ultimate Way to Attract a Tenant 66How to Increase Rental Income (and hence the Capital Value) 71Helipads 72Cell Phone Towers 73More Rooftop Antics 74Naming Rights 76Air Space 77Parking 81The Humble Webcam 89Interior Remodel 93The Triple Win of Alarm Systems 100Rent Reviews to Market 101What Were the Disadvantages of Commercial Real Estate? 103Finding Commercial Real Estate 107Newspaper Advertisements 107Real Estate Firms 112The Internet 114Keeping Your Eyes Peeled 116Networking 118Word of Mouth 118Helping Other People 124The 100:10:3:1 Rule 126Summary 130Analyzing Deals 131Due Diligence 132Four Questions to Ask about Any Commercial Property 142Return on Investment 144Negotiating Commercial Real Estate Deals 155The Uncooperative Seller 156Other Negotiations 159Financing Commercial Real Estate 163Proposal for Finance 166Summary Paragraph 171General Description of Property Offered as Collateral 174Property Portfolio Statistics and Cash Flows 176Statement of Assets and Liabilities 177What to Include in the Appendix 178How to Use the Proposal for Finance 179Umbrella Loans 182Structuring Commercial Real Estate Ownership 183Managing Commercial Real Estate 187Tenant Selection 188Rule Enforcement 189Rent Reviews 190How to Get a Tradesman to Do Your Work First 190Accounting 193Summary 193How to Beat the Average 195Geography 196Zone Changes 199Proximity to Views 200The Center of Town 200High Technology 201Leasing and Management Tactics to Beat the Average 202Combining All Methods of Beating the Average 202Raw Land 205Best Choice Properties 208Spring Mountain Ski Ranch 211The Benefit of Having Great Partners 214Getting Back to Commercial Real Estate Investing 216Extraordinarily Odd Commercial Deals 217Oil in Them Thar Hills 219Marine Farms 222Property Ventures Limited 225Five Mile 230Never Sell 233Thirteen Golden Rules of Commercial Real Estate Investment 239Risk Is Equal to Yield 239Ensure Safety of Principal 240Control Your Liabilities 240Add Value to a Deal 241A Broker or Agent Must Bring Something to the Deal 242Real Estate Is a Long-Term Investment 243The Number of Voting Partners Is Directly Proportional to the Failure of the Project 244You Are Going to Be in a Lawsuit 244It Only Takes One Deal to Go Broke 245It Only Takes One Deal to Make a Million Dollars 245The Value of a Property Is Limited by the Tenant's Ability to Pay Rent 246Appreciation and Inflation Are Compounded Annually 246You Cannot Give Kindness Away-It Is Always Returned 247Investing Abroad 249Live Life to the Fullest 261About the Author 269Resources 271Index 281
