What do you do when you’re ready to jump into the big leagues, but don’t have the track record to back you up? We’ll tell you how to expand your credibility and appear larger than life!
The commercial real estate business in Detroit is all about who you know, and where to look. This is why a solid track record makes it easier for those venturing into the business. However, if you can’t catch a break, how are you expected to even start working in the area to begin with? The answer: find a way to appear bigger than your track record.
Set up a website
Every serious investor has designed, created, and upkeeps a website. If you have a strong web presence, your credibility will immediately skyrocket. Don’t feel the need to make your website complicated. Templates and platforms are available everywhere to make this process clean and simple.
Talk the talk
Learning the terminology that commercial real estate investors use is crucial. Educate yourself on what these professionals do, how they do it, and what language they are using in their everyday process. Find all the books you can, read through real deals, and meet with other investors, to keep your lingo up to speed.
Create a business card
Not every investor has a business card, but every professional looking to make sure their name sticks around certainly does. Whip up a sleek and modern looking business card and make sure you have plenty on hand with you at all times.
Develop your team
Commercial real estate investors need a solid backing team to help them become success. Start networking to find an attorney, a CPA, and potentially a property manager. When you have people who are on board with your plan, make sure to gush about them. The people who are standing behind you will also help you propel to the front, giving off the perception that you’re already working on big projects.
Prove your credibility
There are a few ways you can make yourself stand out as a credible reference and source for commercial real estate knowledge. Own It Detroit has put together a 3-part tool that you should have on-hand whenever you’re meeting with other investors or professionals in your network.
- A one-page cover letter should be included in the front of your packet, that showcases who you are and what goals you’re looking to achieve.
- Your resume should be placed behind it, and shouldn’t be longer than one page. This should explain any history you have in real estate, or anything else that will establish credibility in the real estate market.
- Finally, include a sample outline of how you would handle an investing strategy. This should display everything you would receive from a broker, except for the contract making it legal. The items included should be an executive summary, financials (projects and actual), additional investors, and any terms that are necessary to be outlined.
As you make the steps towards becoming a commercial real estate mogul, make sure you follow this procedure to get yourself up and moving quickly!