Looking for a Commercial Real Estate Underwriting Course

[Nicholas Burch]

I want to increase my underwriting skills for commercial deals. Specifically, I want to learn more about underwriting syndications and funds. I do not want to buy into an outdated or scam guru course. Any recommendations?

[Henry Clark]

You have two different topics.    

Underwriting commercial.   
A.   More about relationships with your contractors and Finance.    
B.   Zoning

C.  Storm ponds, storm sewers, fire suppression systems, parking, ADA, fire hydrants, roads and access, fencing, utility acces and sizing,  

D.  Tenant dimensions needed.  Customer or business type.

E. Contract terms NNN, personal guarantees,

F.  Interest coverage during construction and rent up.  
G. Lost revenue and rehab cost between vacancies. Just like SFH and MFH you want to spread risk by owning more properties. Harder to do starting out on commercial size

H.  After purchasing which you need to factor in.  Insurance and any property tax increases.  
I.  EPA studies.

J.  Soil compaction

Make a template of each topic above and look through BP lookup. Do this while you’re looking for a training program. This will get you 80% down the road.   These are your killers.

Your other topic syndication.  Would read two or three books.  Find a lawyer who has done these.  Invest in about 3 with different groups.  Key on any contract have a defined valuation and exit strategy.