Episode #097 - 5 Ways to AVOID RISK When Purchasing Your FIRST Commercial Real Estate Deal!

Today hosts Braden Cheek, Brian Duck and Joel Thompson discuss 5 ways to mitigate risk when purchasing your first ever commercial property! Time Stamps: 0:00 - Introduction 0:37 - The Criterion Building is FINALLY OPEN! 2:33 - Today’s topic: how to avoid RISK on your first CRE deal. 3:05 - Fear holds many people back from taking action. 3:38 - Tip #1: Don’t buy anything you can’t afford, but don’t play it small. Buy an asset worth having! 6:03 - Tip #2: Buy deals that cash flow from DAY ONE. 8:50 - Tip #3: Go into your deals with EXTRA CASH! 12:30 - TIP #4: DON’T manage your first property. Outsource it to a third party- maybe even Joel’s property management team! 14:10 - Tip #5 - Make a 3-YEAR BUDGET of income & expenses when underwriting the deal. Get help with underwriting your first deal. Contact us for recommendations! 16:19 - BONUS TIP: Stay in YOUR market, so long as it’s sufficient size! 18:29 - In conclusion… *Be Sure to check us out on Spotify and Apple Podcasts for the Audio version of today's episode!** https://open.spotify.com/show/08KmNvqGV5HjmHUC8fLuce https://podcasts.apple.com/us/podcast/how-to-invest-in-commercial-real-estate/id1543470290?itsct=podcast_box&itscg=30200 Links mentioned in this episode: www.TheCriterionFund.com www.HowToInvestInCRE.TV Invest.HowToInvestInCRE.com To sign up for Co-Working Owasso, visit: https://coworkingowasso.com/?public& To sign up for our exclusive investor list, click below. https://www.thecriterionfund.com/join-our-investor-list