Description

Beau Beery has been in the commercial real estate business in Florida since 1999 after he decided in his early 20s that having a successful career as a personal trainer was less likely to help him achieve his life goals. Beau has a Bachelor's degree in Marketing and a Master's in Real Estate from the University of Florida. He has also earned the Certified Commercial Investment Member (CCIM) designation in just a few short years working in commercial real estate. 

[00:01 - 11:25] Current Market Situation

• Beau shares about his current portfolio and deals 
• Interest rates may be affected by current elections
• Hiring someone who hasn't learned the bad habits of the trade 
• Anticipating higher interest rates in the coming year

[11:26 - 17:10] What Goes On in a Typical Call

• Getting fined when you call someone on a "Do Not Call List"
• Register your business to the government and register for exemption
• Establishing rapport from the get go
• Prepare before every call  

[17:11 - 25:54] Looking at Rising Interest Rates

• Buyers have to pay higher equity 
• Most brokers don't solve for cap rates but for cash on cash returns
• A lot of people prefer having 7-8% on their cash on cash

[25:55 - 32:05] Buying Trends for Buyers Now

• A lot of new buyers ask sellers if they do seller financing 
• There is a sudden spike in interest rates
• Investors should be cautious of their reputation

[32:05 - 42:32] Spike in Insurance Premiums

•  All properties are now considered postal
• Insurance premiums are rising in a very fast rate
• Liabilities on coverage on properties are skyrocketing
• Don't be a lazy buyer 

[42:33 - 43:43] Closing Segment

If you are interested in my coaching and consulting program, please email me at  shane@shanemelanson.com. I want to make sure to cater to those interested, so please use the word "coaching" on the body or subject line.

You can also follow me on Linkedin and Twitter. If you want to go even deeper into the world of commercial real estate, head over to Shane Melanson, a roadmap to investing in commercial real estate! Get my book Club Syndication - How The Wealthy Invest Their Money.

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Tweetable Quote:

"An investor going into this,should be very cautious of their own reputation going into contract on something and thinking they can retrain later on as if they didn't know this was coming." - Beau Beery