Since becoming president of BOSC Realty Advisors in 1989 Waad Nadhir has acquired, financed and developed multiple commercial real estate properties including office buildings, shopping centers and single tenant buildings.
A lot of beginner investors in commercial real estate want to know one way to find great deals. They also want to know the name of one bank that will provide them with financing, one area of town to look for buildings, one key to success. Experienced professionals know that success is a combination of hard work, building connections and looking in many places, be it finding deals or getting great financing.
Get on the mailing lists of commercial real estate brokerages to see what their inventory looks like. A lot of commercial real estate investors want to avoid dealing with real estate agents in order to not pay any commissions. Such real estate investors forget that it’s the seller who pays the commission, so you have nothing to lose if you are a buyer.
The best way to choose a real estate agent is to interview several of them. This does not mean conducting a formal interview in a business setting, but rather meeting with a few real estate agents, talking about what they are doing and getting a feel whether you are going to be a good match or not. For example, some commercial real estate investors are afraid of agents who are also investors on the grounds that an investor-agent will keep all the great deals to him- or herself. In reality, every investor has a unique set of objectives and circumstances. Investors such as Waad Nadhir know that it’s much easier to deal with someone who understands what you do than deal with someone who is clueless about your business.