Build Your Reputation As an Apartment Seeker

What is the value of a reputation? The old adage speaks volumes about "who you know" in lieu of "what you know" so is reputation really that big of a deal? In short, 'Yes' but I want to dispel some common myths about the value of reputation in commercial real estate and thus motivate you to pursue this wonderful investment vehicle.

Myth #1: Commercial real estate is basically a 'good 'ol boys' club that shuns new members.

Truth: In rare cases, usually in smaller communities, there is a bit of a protective approach to commercial real estate, favoring local ownership. By and large, this myth is false. The myth is propagated by the fact that the world of commercial real estate is populated by different players. When investors don't know the players or how to play the game, they presume it to be off-limits.

To build a reputation as a seeker of commercial real estate, make a point of finding out who the players are and let them know your intentions. Most players will see an active interest in the business of commercial real estate as a good thing, made more real when you can perform and actually buy something. Any hesitancy from a member of this group to work with you is usually founded on the fact that most people they've met who were just like you never did much of anything. When you have a solid approach to the business, you can perform and this will do wonders for your reputation with other commercial owners.

Don't Fear the Competition For Commercial Properties

One of the hallmarks of being in business is to be aware, concerned about, or even intimidated by one's perceived competition. After all, competitors can swoop in and gobble up sales that were otherwise yours for the taking, right? The better approach is to embrace the idea of competition and I, in this article, will help you feel better about this issue, when it comes to commercial properties.

Reasons for fearing the competition in commercial real estate usually stem from a feeling of not being financially ready to pursue larger purchases. If you're feeling this way, what would it take to feel more comfortable? What capital would you need to raise? What funding commitments would you need from a bank or banks? The answers to those questions form the basis for a sort of to-do list that needs to be your first priority. You have your checklist. Now, let's move on.