Commercial real estate is known to be one of the important indicators of economic health, and it has been in the throes of a major slowdown across the country for the last decade and a half. Big cities around the globe have been left with a glut of office space that is pushing up vacancy rates.
Cushman & Wakefield indicate that vacancy rates in Mumbai and New Delhi have topped 20% – the second highest after Chengdu in China. According to experts in commercial real estate in India, prices of commercial real estate have fallen 35-40% since the start of the global financial crisis, and most insist that prices have truly reached bottom in most cities. Direct ownership of commercial real estate is making a comeback around the globe, and rightly so. Historic lows in interest rates combined with rock-bottom prices still depressed from the real estate bust make this a smart time to buy.
We can all agree that one important factor that can affect whether any business venture is successful or not is having the right network of contacts and associates who can help you accomplish your business goals. When you want to get into commercial real estate investing, the following resources can be an excellent help to you.
Committed to best in land use policy? Check out Urban Land Institute (ULI)
Founded in 1936, the Urban Land Institute (ULI) is a 501(c) (3) nonprofit research and education organization that offers educational opportunities for its members on the full spectrum of land use and real estate development. Members have access to specialized training and research reports for different sectors of the commercial real estate industry, including:
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Real estate financing and capital markets
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Transportation and parking
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Office and industrial development
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Retail development
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Resort and residential development
The ULI conducts regular meetings and trainings throughout the world and holds annual ‘real estate school’ where members can get specialized training. It’s a great organization to join if you are interested in commercial real estate investing and want access to a wealth of knowledge.
Looking for your PhD in Commercial Real Estate Investing?
The CCIM Institute for Certified Commercial Investment Members, or CCIM, was established in 1954 to give commercial real estate practitioners and investors training and networking opportunities. Today, with the addition of advanced technology, CCIM is the global leader in commercial and investment real estate education and services. And the coveted CCIM designation, recognized as a hallmark of professional competency, affords members an undisputed competitive advantage.
CCIM offers a wide range of intensive online and in-person courses within their education program with titles like these:
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The Data-Driven Approach to Commercial Real Estate
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Market Analysis for Commercial Investment Real Estate
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Before and After Tax Discounted Cash Flow Analysis
CCIM is a global commercial real estate network with members across the U.S. and in over 30 countries around the globe.
Focused on Industrial or Office Properties? Get Connected with NAIOP
If you want to specialize in industrial, office, or mixed-use properties, then the National Association of Industrial and Office Properties (NAIOP) organization is a great resource. NAIOP offers its members:
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Fresh industry insight through educational programs.
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Channels for career and professional development.
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The opportunity to conduct commercial real estate research.
Started in 1967, NAIOP has over 15,000 members and provides strong advocacy as well as educational and business opportunities for those who want to get into commercial real estate investing.
Additional Resources for Committed Commercial Real Estate Investors
If you’re the queasy or hands-off type, stick to publicly traded Real Estate Investment Trusts (REITs). Or, if you’re an accredited investor (meaning you’ve got more than $1 million in net worth outside your home or an income of at least $200,000) and are willing to take on more risk, consider limited partnerships put together by real estate developers and commercial real estate lawyers.
Some additional resources for committed commercial real estate investors to check out include the following:
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UpCounsel, where commercial real estate investors have access to qualified real estate lawyers when you need them without the traditional up-front retainer fees.
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Information, trends, and articles with Commercial Real Estate Investor magazine.
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Building Owners and Managers Association (BOMA) International
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Meetup.com, where individuals can create their own local networking opportunities
