It’s embarrassing to admit, but when I was a property manager, I didn’t know how to invest in commercial real estate. In my area, most property managers don’t own investment real estate. I’d imagine that trend continues beyond my part of the country. Perhaps it’s because property managers spend so much of their work time around real estate that they don’t want to do it on their personal time. Maybe it’s an employee versus entrepreneur mindset that holds them back. Whatever the reason, it’s a strange reality to encounter.
No one shows you how to invest while you’re working on their properties. They don’t have to do that, now do they? If you ask them, though, most investors would be happy to share their investing stories and insight with you. However, when I was a property manager I didn’t have the courage to ask my own clients how they developed their portfolios. Instead, I remained a guy collecting a check to manage other people’s properties, helping them achieve their dreams while mine seemed like a distant mirage.Read More