All Forum Posts by: Chad Bernstein

@Philip Bashaw Hey Philip,

I wouldn't even talk extensively about real estate or future plans right off the bat.  Take him out to lunch, see what kind of guy he is.  Someone mentioned above About due diligence, A lot of information can be gathered from diving right into who it is your siting across the table from, everyone has a story, learn his story.  I believe you said it above, Listen intensively what he is saying to you, most likely he will tell you what his plans and goals through natural conversation .  Don't feel the need to try to take control of the meeting and try to impresss him, he has $25M that is an impressive accomplishment in itself.  Remember he has $25M, that doesn't just fall in your lap(unless it's a trust fund or in heritence) Just from getting to know him in the initial meeting just asking simple questions.  I wouldn't jump the gun and get heavy into numbers and projects, and try to impress him.  Your goal should be to try to impress him with who Philipis asaperson, real estate is a long term relationship business.  Do show him the kind of person you are, so he can begin to become comfortable with you.  It comes across too desperate off the bat trying to convince someone right away why they should invest with you. Your a smart guy who has dealt with all different kinds of people, work on the relationship.  The rest will come in the 2nd and 3 meeting.  But the very first thing I would do is what @Karen Margrave suggested and make sure he is who he say he is and he is for real, last thing you want to do is waste your time.  If he is for real, remember he is a person like all of us, I am multimillionaire, I have friends who have net worth that exceed $100M and by having a conversation with them you would not be able to tell because most of them are very humble down to earth people. Don't feel the need to pressure your self or try to impress, he will be most impressed with the kind of person you are.  Philip you seem like a great guy, go into the meeting be yourself and get to know this person.  It could be the beginning of a wonderful friendship and business relationship. Wish you the best of luck and keep us updated with how it goes.

Hey Damon,

I have been thinking to put together an event in Brooklyn and Queens for a while now. The investment properties that would most interest investors is in Brooklyn and Queens, the price point in Manhaatan is through the roof. One of the hottest markets in the country is Brooklyn! Damon, I used to own a networking/event company and if you need help with putting this together just let me know! Looking forward to it. 

See you guys on the 28th!

@Jackson Wells Hey Jackson, it was a great start to make $30,000 while your still in college.  Are you going to focus on commercial real estate in Tampa when you graduate? Is there a certain area you want to focus in? Retail/Office leasing or investment sales.  If I were you I would try to link up with a commercial broker in the area you want to work in.   If you have any specific questions in commercial real estate just shoot.

I have been able to obtain many multi family properties the good old fashion way.  Boots on the ground walking nabirhoods of interest.  Take notes see if any properties need up dating.  It is a numbers games.

Welcome @Abhiram S. wonderful to see other members who work in NYC.  This is definitely the place to learn about other markets.  I would love to hear about the work you do here in the city.

Gary Keller's Millionaire Real Estate Investor is a great book.

Hey Jessica,

To be completely honest with you I am not sure if you would want to start wholesaling commercial properties as @Mary B. said it would be easier to start in residential. Especially since you are in college and you have a limited amount of time, Commercial deals tend to be more complicated and can take more than a year to close.  Personally I would start in residential and when you gain a little more experience you can make the jump. I hate to be discouraging to anyone because I know anything is possible, just want to be honest with you about commercial deals.  

Brooklyn is its own beast and I would attend

Hey Joseph,

The information from the posts responding to your question is spot on.  In terms of starting out investing, you really are going to learn a lot more and eventually build up to the 30+ units by starting small.  2-4 units is a great place to start, as mentioned previously most commercial deals are done off market.  As you start to acquire the smaller properties your knowledge and more importantly your networking with the right people will increase.  As Joel said commercial real estate agents do this every single day and can be an asset in any situation.  Hope all the best for you.