By working in your own local community you can become a commercial real estate insider. Those who are motivated and wanting to make a difference, not only in their own lives, but in the lives of people in the community as well, have a wealth of opportunity in this area.

Money making properties that will financially take care of you for the rest of your life can be in your own back yard. Two things are necessary in order to become a real estate insider: knowledge of your community's real estate opportunities and a steady increase in your own education.

What is the definition of a real estate insider?

Knowing the ins and outs of the real estate market in his or her own area of interest makes one a real estate insider. Office complexes, strip malls, large apartment complexes, medical buildings, and various other income producing properties would be appropriate areas of interest. The commercial real estate insider recognizes the value of property, and sees rends and changes in values before they happen.  As a commercial real estate insider you should be familiar with all zoning laws and regulations in your area, as infrastructural changes can drastically affect the values of land on or around new development.

The commercial real estate insider also knows the city decision makers. He or she knows with whom to speak in order to get information, advice, notice regarding changes in the zoning laws or regulations, and to stay ahead of the real estate market.

What do you have to do to become a commercial real estate insider?

The first step is understanding that having a relationship with the officials and decision makers of the city or county comprises a large part of commercial real estate strategy, because they are the ones who decide zoning and use for every piece of property within the city's or county's boundaries. Their job is to plan ahead for future growth, developing a balance among both residential and commercial properties, so that the community does not grow too quickly or become unbalanced.

Creating a rapport with city officials is a critical piece in your ability to develop, renovate, and otherwise do what you want to a property.  You need to get to know these people well and so they recognize your capabilities and what you do.  Knowing what is occurring in your community regarding real estate at all times is also very important to becoming an insider. With the continuous changes in the zoning laws, new regulations or codes regarding the zoning could have come into being, or the stated use could be limited to only a few uses that will hinder your intended project. All these things can greatly affect your dealings with a specific property, and how you pick and choose your opportunities.

Attending zoning and planning meetings at your local Chamber of Commerce or courthouse is a good way to meet these important officials, as well as learn about the real estate market in your community. There you will meet face to face the people who will influence your future as a commercial real estate insider. Introduce yourself as a real estate investor, and give them your card. Ask intelligent questions regarding real estate in your community.

Once you get to know these influential people, set up a meeting with them to discuss a certain project, or something on which you could use more information or advice. It always helps to have your questions thought out ahead of time so you stay on task and topic. Let them know that their time, knowledge and expertise is much appreciated.

Asking them for introductions to people they know who may be able to help you is always a good idea.  A thank-you note that briefly recaps your discussion, what advice you used and how it will or has helped you, will help build your relationship with them and so they are more likely to help you in the future.  They may also share inside information with you. You become a commercial real estate insider by making make excellent contacts and learning key elements regarding your specific market.

Knowing the laws and regulations regarding the various types of zoning in your area of interest is critical.  To become a real estate insider you need to know that zoning labels may differ from city to city, as do building criteria, the size of lots, building and fire codes, and limitations. You must study these rules and regulations so you know what you can and cannot do to a property. As zoning and planning meetings, and other important real estate related meetings relay rules and regulations that often change, it is important that you listen and take solid notes at all you might attend.

To become a real estate insider you need to know your market inside and out so you can make decisions based on the changes in the market before anyone else even knows they are coming. Watch for certain points, such as an increase in vacancies of commercial property, or an increase in the median home price, or how the new mall planned to be developed in one year is going to greatly affect the land values around it.

To know your own market and increase your knowledge,  read newspapers, trade journals, commercial real estate books, attend seminars, and talk with others in your area who are involved with real estate. This way you will learn strategy, finance, information about private lending, how to find deals, how to present offers, what markets are hot, new opportunities in the area others are not aware of, and many other tools and strategies that will keep you ahead of the rest.

Being a real estate insider means that you are always paying attention to making contacts, asking questions, learning everything you can about your business and acting on this information.

You will become a commercial real estate insider sooner than you would think by following the above advice!