myEmpirePROQuestion: “Is It Possible To Flip Or Wholesale A COMMERCIAL PROPERTY?”
Yes of course you can flip and/or wholesale a commercial property.
What is a commercial property by the way,
Commercial Property is basically a real estate property that is used for commercial reasons,
…meaning they are used to make money.
They are not used like a home where you are living and you live in.
And they are also types of commercial property.
Right now in my opinion, everyone’s house should be a commercial property.
It should have a home office or a home studio, stuff like that that you actually make money from inside of your house.
But, that’s not what we are talking about.
We are talking about office buildings, strip malls, and maybe apartment complexes.
Mixed-use property, a property with a shop on the first floor and then maybe an apartment or 2 at the top,
… That’s considered as mixed-use here in New Jersey.
So, Can you flip or wholesale a commercial property?
You can flip or wholesale anything.
Let’s just get that to our psyche.
Like literally I can turn around and take some headphones, let’s say I found this in somebody’s garage,
…I found it and picked it up for $2 because they didn’t want to know more.
I listed it on e-bay, I sold it for $7.
Boom! I just made $5, and I can do that over and over again with any product, goods and even services.
Did you know that?
Anything that people will pay money for, any kind of valuables that people will pay money for you can flip and wholesale it.
Obviously it’s the same thing for commercial properties.
The only thing that I need to point out here is this, remember when we talk about cash buyers from homes/residences?
There is something you call Market Size.
PREVIOUS POST: Can I Find Houses to Flip or Wholesale on Zillow?
Market size: either you are dealing with a seller or buyer you need a healthy market size.
In order for you not to run into frustration, in any business.
One of the mistakes that a lot of people make when they are starting their brand new business is,
… they have this idea but they never test the idea, they go start a business out of it.
They never test the idea with the market.
Does the market even want this?
It’s just like everything we do here like 50% of our business here, we test the market before we create the product.
We don’t want to create stuff that the market doesn’t want.
Not because I think it’s the fanciest business idea in the world.
I wanna test it.
So why am I saying that, what does that have to do with commercial property?
TRENDING: Real Estate Wholesalers 📍 7 Questions that MUST get answered to PREQUALIFY Sellers
When you are dealing with cash buyers, the people that will actually pick up these property from you,
…that number of people is significantly lower than if you are dealing with residential.
Okay?
Residential because everyone needs a home but not everyone needs a commercial property.
So because of that, there’s a big market for residential properties.
When you are comparing that to commercial property, it’s significantly lower.
If that’s not a game that you have some experience in, even if you lock up a good deal under contract,
… it’s gonna be tremendously difficult for you to sell the deal that you locked the property under.
Now, with that being said, if it’s truly a real deal, really all you have to do is make a call to a few commercial real estate agents.
And they can probably find somebody to pick up the deal.
So the question here is, is it possible?
HAVE YOU SEEN THIS: More Videos on our YouTube Channel
Absolutely it’s possible, just be mindful that when you jump around different types of deals and businesses like that,
… you have to consider the market size.
Do you have the resources?
Do you have the network to pull stings to make things happen?
If you don’t, you are going to have a contract or paper that is worthless in your hands and that’s not what we want.
We don’t make money like that, we make money by actually translating the value in that paper, the contract, into money in the bank account.
And money only comes from one place, it comes from people.
That’s just the bottom line.
So if there are no people, that‘s the 3rd core pillar I cover in Smart Real Estate Wholesaling.
There is Value, Automation and people.
If there are no people there’s no Money.
That’s why it’s not properties, it’s people that control the properties or the people that have interest in purchasing the property.
You need enough size so you don’t run into frustration.