Austin Davis CRE Program Review - A Look At His Commercial Real Estate Program

Up until a few years ago I had never thought about buying or getting into commercial real estate. I had a goal of owning dozens of single family homes and renting them out and building my wealth with them. Then one day I clicked on a ad online for a report on why commercial real estate was less risk and easier to get into than single family homes. The report by Austin Davis that I read opened my mind to commercial real estate and for the first time I saw how high risk residential real estate was compared to commercial real estate. With my single family homes, if the renter lost their job and was the only full time income for the family, I didn't get my rent for 100% of that unit that month. I would later get a late fee with it, but that still didn't change that my mortgage payment was due to the bank. With commercial real estate if one of my unit's had that happen it was not 100% of the income that month, but only a small percent. The risk was over many units and the costs were lower per unit as it was not a single family home, but a unit part of a large building. That got me started to wanting to get into commercial real estate and I have never looked back since then. That began my working with Austin Davis in commercial real estate.

For the past few years I have been a member of Austin's mastermind group and partnered up with his group of investors on a few of the deals I have done. On our first deal I had in just under $1,000 on my training and all the books I bought to read to learn about commercial real estate and with my partner that I paired up with for the deal. I got 30% ownership on my first deal and my partner got 70%. They put down the down payment and paid for my closing costs on the deal and I found the deal and helped in setting it up and developed a working relationship with the seller.

I got started by going through the program and then started looking for property. I found one in Tempe, Arizona that looked to be a good deal and contacted the seller. I requested the property packet and entered the numbers for the revenues and expenses on the form that Austin provides in his program to review the property. I then send in the form to his team to review it and about a week later the deal was returned to me and had been reviewed. They made a few changes on it and suggested terms on how to set the deal up. I then contacted the seller and told him I would be sending a letter of interest over later that day. I sent it over to him and the next day he responded with wanting a higher price. I worked with him on it and Austin's team helped me in getting the seller a higher price. Although I was not able to offer him his full price, but was able to improve my offer. After the seller agreed and returned my signed letter on the terms I then sent it back to Austin's team and requested a partner.

It took about a week and then they provided me with the terms a partner would offer me. I thought it over and then decided to go with them and submitted the request to move forward with the partner on the deal. Once it was processed we then talked over the deal and started working on a purchase contract to send the seller. A few days later we had our purchase contract prepared and sent it to the seller. They signed and returned it and then we sent it to the lender that my partner had already done deals with in the past. It took about 7 weeks after the signed contract to get the deal done.

My first deal was hard for me, but mostly because it was all a very new process to me and now that I know what to do and have been through it all the process is not so hard for me.

I plan to start a investor mastermind group of my own so we can all bring storm with each other and work on deals. If you would like to be considered for my group check back later for details.