First deal - How did it look like for you?

[Aurelien Bonin]

I thought we could share experience about our first CRE deal.

Mine was a restaurant in a small fisher community here in Canada. I got private financing, was lucky only had to put 10% down. I found a lease agreement online and did the best with what I knew back then. The lease was gross with the tenant responsible for all utilities. I am now offering them a rent to own, so they can fulfill their dream of owning their place of business.

I am involved in a mastermind now and learning a lot about how to handle things more professionally:

- identifying a deal with value add opportunity - a "unicorn",

- test driving the property during due diligence - see if the vacancies could be rented,

- replace mom and pop with regional/national tenants.

Would love to read the story of your first deal!