Hello All,I am an experienced REO broker for residential properties. I would like to venture out into the commercial REO sector. Can anyone provide any tips or direction as to the best way to go about it? I'm aware of the obvious: learn the commercial market, learn how to do commercial BPO's, etc. I guess my question is more about good resources to accomplish the obvious.Any help along these lines would be helpful. Thanks.
If you are going to the NAR there will be training offer by the CREOBA organization on commercial Bpo's.. keep in mind that this function is not apart of the NAR but is running in conjunction with it..
Trevor, in order to perform on commercial deals, you will need access to costar.com, loopnet.com and local commercial mls if you have one there. You will need to be good in calculations of cap rate, gross and net multipliers. Usefull link would be alco reiclub.com, many free e-books.You could also use http://www.invest-2win.com and research links on calculations. Hope that will help
Reach out to your local CCIM chapter and ask the top commercial agents in the niche you want to specialize for advice. There is also a couple of pretty good books out there. In my opinion one of the best is "The Fundamentals of Listing and Selling Commercial Real Estate" By Loren K. Keim. You can find a description if you click on the link below.
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If you are going to the NAR there will be training offer by the CREOBA organization on commercial Bpo's.. keep in mind that this function is not apart of the NAR but is running in conjunction with it..
Need more info email me back.
Thanks Trevor,
James
OBA
The Fundamentals of Listing and Selling Commercial Real Estate