[Newbie] Commercial RE new investor seeking advice
Hi, I am trying to get into commercial RE investment. I'm looking to form an investment firm with partners. 

How do I find partners? Is there a forum to connect people? How do I attract potential partners? (I don't have much RE knowledge. I'm a hands-off landlord)

Are there beginner friendly projects? Apartments? Fixup? Retail? Office? Flex? 

If I want to quickly recoup the capital, what projects would you recommend?
[{"id": "hvi233h", "text": "I started mine about 1 year ago and am working with two LPs to closer our first retail deal this year. I found my investors in the residential side and later found larger investors with their hands in many different niches in real estate. Find people who buy in large volume and bring value to them. Mine was finding really good off market deals and putting easy to read financial analysis together", "replies": [{"id": "hvi9wn9", "text": "Key here is finding good off market deals. Huge value to a big time investor. Can I ask you, how you source deals on the commerical side?", "replies": [{"id": "hvifu2q", "text": "We use softwares combined with driving and skip tracing to cold call properties. I like the neighborhood shopping center niche", "replies": [{"id": "hvih2tn", "text": "Is the software used to locate properties or just to do research on the property and the property owner?", "replies": [{"id": "hvihamc", "text": "Both locate and research", "replies": [{"id": "hvihkvc", "text": "Mind sharing the software? I'll try driving around and locating mismanaged centers. That seems pretty similar to residential, driving for dollars.", "replies": [{"id": "hvihone", "text": "Landvision. It is but isn\u2019t. Please don\u2019t bring the bullshit wholesale stuff to the CRE space. Pease", "replies": [{"id": "hvj9iwq", "text": "Hahaha. I'm the end guy, trying to start a portfolio of my own. Although, wouldn't this basically be a broker in the business?", "replies": [{"id": "hwf7kxn", "text": "Yes but anyone in CRE should have their brokers license. To many pitfalls for someone transitioning from SFR wholesaling flipping etc", "replies": [{"id": "hwfavhw", "text": "I have my broker's license and I actually started in commercial brokerage and then started to flip residential, now I'm looking to do the same in commercial now. I'm in the LA market. What market are you in?", "replies": [{"id": "hwfb9qg", "text": "Same! I have a house flipping company in Atlanta and burnt out on it. Got my license to learn CRE. Closing on my first 18 unit retail shopping center in April", "replies": [{"id": "hwg445k", "text": "That's awesome! Congrats on that. Mind I ask, how long you've been searching, or said property? Why retail? Obviously going from SFR to multifamily is the most similar, but why retail for you? And what's the plan for the property?", "replies": [{"id": "hwlxva2", "text": "Frankly because literally everyone is in multifamily. I have tried to avoid competition in every aspect. Multifamily is obviously very similar however, I\u2019m avoiding competition to avoid inflated prices. I saw going from SFR I had maybe 5 option. Multifamily, retail, self storage, hospitality and everything else. Hospitality needs to much oversight, multifamily is to competitive, self storage is a luxury so I felt retail was the best of all worlds. Your dealing with somewhat professionals in an easy to manage setting. There is minimal Reno cost once a tenant moves out and in most cases with neighborhood shopping centers it is e-commerce proof (nail salons , tax consultants, hair and food etc). It\u2019s just a niche I don\u2019t see a lot of people in. Don\u2019t steal my plan\ud83d\ude0f", "replies": [{"id": "hwo9t4w", "text": "But your plan is good!! Can I please steal some of it lol, we are 2,000+ miles apart \ud83d\ude06. What are some quick value adds to look for? What I can think of, is any low visible signage, maybe reslurry and repaint the parking lot, and a general exterior facelift to bring it into the year 2020. Anything else that comes to mind, you don't mind me stealing \ud83d\ude09.", "replies": [{"id": "hwofoo6", "text": "Haha I\u2019m joking. Yeah so parking lot and outdoor seating is big for us. A lot of the shopping centers (especially for local small businesses occupancy) any draws to the property is great like restaurants w/ outdoor seating, fresh modern look etc. we look for main and main or secondary main street intersection locations. We look for below market rents (ideally -50-100% of current market rents) occupancy at 80-100% and if the owner is paying utilities and property having separate meters. Our latest property was 100% occupied current build out is for 14 units but could fit 18 and had 18 separate meters. Rents were avg around 8-10$/ sq ft and tenants per lease we\u2019re supposed to be paying all utilities common area and all and they had not been. Owner was paying. 100% occupied. Needed new parking lot and new roof. It\u2019s my first one and it check all my boxes so I went for it. Took me about 3 months to find it off market.", "replies": [{"id": "hwthoz9", "text": "Great find. Sounds like you were pretty patient when picking. A couple questions come to mind, why were you looking for a old roof? Did you have a roofer in mind that gave you a good price? Was it just a way to negotiate for lower price? I guess I'm wondering why you specifically sought after a bad roof? Second question, why look for property occupied at 80-100%. Is 20-50% occupancy raise red flags for you? Why doesn't this fit your criteria? \n\nLastly, go Rams!!!! \ud83d\ude01 Have a good Super Bowl Sunday!", "replies": [{"id": "hwtrrlo", "text": "No! Roof was just a defect we found in DD. Reduced price base on it which helps our cash flow starting off. We also were able to negotiate interest only. Feel free to email me at davis@sunbeltinvest.com\n\nWould be happy to share my model and just happy to connect!\ud83d\ude01 \n\nGo rams! UGA family. Love to see Stafford and Sony win one", "replies": [], "depth": 17}], "depth": 16}], "depth": 15}], "depth": 14}], "depth": 13}, {"id": "hwlxxye", "text": "Also leases are longer", "replies": [], "depth": 13}], "depth": 12}], "depth": 11}], "depth": 10}], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hvmgdcg", "text": "I mean this in the nicest way possible. If these are your questions, why would partners invest with you? It seems you have no track record, no competitive edge, etc.", "replies": [{"id": "hvmip2j", "text": "Indeed, I have no track record of success. How do I start building the records?", "replies": [{"id": "hvmnid7", "text": "Invest, turn a profit so you can prove to investors you can get the job done", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hvnov35", "text": "CCIM:101 is a really good course for financial underwriting of commercial property. You need to decide what asset class you like and seek out a broker who specializes in that asset class. Top commercial \u201cstreet\u201d brokers have encyclopedic knowledge of the market and use that data to help investors make money and see opportunities.", "replies": [], "depth": 1}]