Andrew Sallee is a remarkable individual in the world of commercial real estate investing. He has built a portfolio worth over $140,000,000. How did he do it? Through self-education and building a strong network of contacts.
Sallee’s success story began with his desire to learn more about commercial real estate investing. He spent countless hours studying the industry, learning about the different types of properties and how to evaluate them, and developing strategies for finding and closing deals.
Once he had a solid foundation of knowledge, Sallee set out to build a network of contacts. He reached out to industry professionals, including real estate agents, property managers, and other investors. He also attended industry events and networking opportunities, which helped him to establish relationships with key players in the commercial real estate market.
With his knowledge and network in place, Sallee was able to find and close a number of successful deals. Sallee’s success in commercial real estate investing is an inspiration to many. He has proven that with hard work, dedication, and a willingness to learn, anyone can achieve financial freedom through real estate investing.
In fact, the “May 2021 RCA CPPI: U.S.” summary report states that during April 2020 to 2021, the price of commercial real estate increased by 1.3% annually. Apartments (up 7.6% year over year), industrial properties (up 9.4%), the retail industry (up 1.3%), and office buildings (up 3%) were the main drivers of that increase. This statistic reveals that there has never been a better time to invest in real estate than now, and Sallee’s professional knowledge and experience comes in handy.
For those who want to follow in Sallee’s footsteps, here are five key items to consider when investing in commercial real estate:
Education: As Sallee has shown, education is key to success in commercial real estate investing. Take the time to learn about the industry, the different types of properties, and how to evaluate them. Develop an insatiable taste for knowledge in the field and watch that knowledge give you real success in the market.
Networking: Building a strong network of contacts is crucial to finding and closing deals. Attend industry events, reach out to professionals, and establish relationships with key players in the market and develop strong bonds with them.
Due Diligence: Education and doing your due diligence goes hand-in-hand. Education fuels your ability to know and discern due diligence. For instance, when evaluating a property, conduct thorough due diligence to ensure that it is a sound investment. Consider factors such as location, condition, and financial performance.
Financing: Commercial real estate investments typically require a significant amount of capital. Be sure to have a solid financing plan in place before making a purchase.
Flexibility: The real estate market is constantly changing, so be prepared to adapt to new opportunities and challenges. Be open to new investments and be ready to adjust your strategy as needed.
In conclusion, Andrew Sallee’s story is a testament to the power of self-education, networking, and hard work in achieving financial freedom through commercial real estate investing. With the right mindset, anyone can replicate his success.