What’s your story on making the first million $ in CRE
Please share your story on how you made your first million dollars investing in CRE. When did you buy, what asset class, and how you did it?

I’m looking to invest in my first CRE deal :)
[{"id": "iq7rcqb", "text": "I know this does not answer your question but in my opinion, now is not the time go to on offense in the commercial real estate space. Give it 6-12 months and re-evaluate. This might be the riskiest time to invest in the last 10~ years.", "replies": [{"id": "iq7x0ol", "text": "Opposite side - I'm seeing some of the best deals come to market now as investors are getting spooked and credit is drying up. If you can endure the next 12 months, there's still deals to be had (with bargains coming down the pipeline).", "replies": [{"id": "iq7yzyw", "text": "I hear you but it\u2019s hard to say what is actually a bargain when there is a falling knife. Sure, you can buy things cheaper than a year ago. But look where rates are and how much softer the economy is. I hope you can find good deals but I think most would agree there is a lot of uncertainty and a lot more risk now than previously, especially for new investors who are not well capitalized nor have experience.", "replies": [{"id": "iq8b9nu", "text": "Liquidity is drying up, prices in across the board in RE is going down (not as bad in specialized sectors like data centers) but the underlying US economy is not currently much softer than last year\n\nValuations are ultimately based on how much money the asset should be bringing in, in the future. So expectations are economy will be weaker, but there haven\u2019t been too many signs of cracking just yet", "replies": [], "depth": 4}], "depth": 3}, {"id": "iq84e46", "text": "Where do you find your deals?", "replies": [], "depth": 3}], "depth": 2}, {"id": "iq8uoz6", "text": "A wealthy guy once said be greedy when others are fearful and fearful when others are greedy.", "replies": [{"id": "iq8wmi5", "text": "I agree with that but that always comes with a lot of risk. It\u2019s easy to quote someone, it is a million times harder to put that into action and follow through successfully. Some people do it, but the few do not represent the majority.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iq8ce2s", "text": "Owned land in Central Florida before it was cool", "replies": [{"id": "iq8fa0h", "text": "Its growing like crazy. With south Florida fully built out theres only one place to develop.", "replies": [{"id": "iq8ft4k", "text": "Yep. SWFL land agent here, Southwest Florida HS gone gangbusters over the past few years. Watching diligently to see if developments actually move forward or if they get banked/retraded.", "replies": [], "depth": 3}, {"id": "iq8fx1y", "text": "We're running out of land to, we got swamp to the north and mined land to the south.", "replies": [{"id": "iq8h0z4", "text": "Thats one thing I worry about, we are creeping into wetlands and developing around them on over them in some cases if you can mitigate in the same basin. Looking at you west and SW Orlando.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "iq8fl70", "text": "Walt Disney is that you?", "replies": [{"id": "iq8fu6f", "text": "Nah, we owned a flavor business and pivoted to CRE when we sold it.", "replies": [{"id": "iq8i1f9", "text": "Flavor business. I\u2019m intrigued and hoping it\u2019s not a typo. You do any work in SWFL?", "replies": [{"id": "iq8j3vb", "text": "Nah we've been out for years, we were acquired by a company that was acquired, that was acquired, that is now owned by IFF", "replies": [{"id": "iq8j7y7", "text": "Nice! Congrats on a clean exit", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "iq8gqk2", "text": "Interesting fact that Walt had several different brokers and companies when he acquired the 44,000 acres. Didnt want all the farmers to know it was him and jack the price up.", "replies": [{"id": "iq8hy2e", "text": "So back-in-the-day version of hiding behind a maze of LLCs haha", "replies": [], "depth": 4}, {"id": "iq8i3rw", "text": "That's most developers to be fair.", "replies": [{"id": "iq8k2ze", "text": "Theres nothing wrong with what he did, he pretty much made Orlando.", "replies": [{"id": "iq8npkf", "text": "Disney world employs nearly as many or more people than orlando has citizens. I aint mad at him. I was just pointing out that hiding that you are assembling land is common to avoid prices being jacked up.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iq8t6mz", "text": "Have voting shares at the bank of Mom &amp; Dad.", "replies": [], "depth": 1}, {"id": "iq93mbr", "text": "That's a very personal question.", "replies": [{"id": "iq9t3e4", "text": "On an anonymous forum", "replies": [], "depth": 2}], "depth": 1}, {"id": "iq9osp8", "text": "I did cannabis real estate before anyone would even consider doing it.", "replies": [{"id": "iqb08xo", "text": "were you able to get Title insurance on any of the properties? with Title knowing it would be a cannabis use? Truly curious", "replies": [{"id": "iqb8xx4", "text": "It wasn\u2019t easy and that\u2019s what almost blew up my first 2 deals\u2026\n\nThe underwriters that will do it, don\u2019t advertise it. But I found a law firm who would actually do the closing and hold escrow and a title company that would write it", "replies": [{"id": "iqbqzad", "text": "very interesting...thanks for sharing", "replies": [], "depth": 4}, {"id": "iqcyphd", "text": "Why do title companies care who the tenant is? What does the tenant have to do with who OWNS the property?", "replies": [{"id": "iqd208l", "text": "why do banks care? why do insurers care? ... i agree with you completely of course but none of these massive institutions are going to take a risk being involved in any way with a federally illegal business. It just will not happen. \n\n&amp;#x200B;\n\nold republic, first American, etc. they will not touch it. \n\n&amp;#x200B;\n\nWhat is worse than that, companies like McDonalds will only sell their excess, closed stores with a 20y ear deed restriction against cannabis in place. Why the hell should they care once they sell a property???", "replies": [{"id": "iqd7gp0", "text": "I completely understand why banks care - because banks lend based on the value of the property and if the tenant is risky, that will impact the value of the property negatively. But what does issuing title have to do with the value of property or who the tenants are? That\u2019s just showing who owns the property and the liens on it. So I don\u2019t get why a title company would care.", "replies": [{"id": "iqe048j", "text": "That\u2019s not why the banks care. Curaleaf , Trulieve , etc aren\u2019t considered risky. Doesn\u2019t matter because the state banks that do this, are loaning LTC not LTV. \n\nThe big banks cannot participate in any action connected to a federally illegal practice. Compliance will not permit it", "replies": [{"id": "iqe4t8a", "text": "Are title companies under similar regulation?", "replies": [{"id": "iqhe4mv", "text": "It\u2019s not so much any regulation but an internal decision. First republic doing billions isn\u2019t going to do anything that could run afoul of the feds. It\u2019s just not worth it for them.\n\nBut smaller more Regional groups.. the risk / reward is a bit different and their stakeholders have a bit different expectations.", "replies": [], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iqadm0u", "text": "Seed money + risk tolerance + a great story to raise investor capital", "replies": [{"id": "iqapcus", "text": "Can you elaborate? Thanks!", "replies": [{"id": "iqay9ki", "text": "5 years ago, multifamily, dumb luck with a great market.  We can all stand on a pedestal and talk about how smart we are.  Market swung in our favor.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iqb80ap", "text": "No one has answered the question lol. No CRE millionaires in here?", "replies": [], "depth": 1}]