Call marcus millichap, the largest commercial real estate agents in the US. Ask about financing, which is key for commercial. Most financing is based on 20 year amortization with a baloon (with re-appraisal) at 3-10 years. This is what is getting most commercial owners/lenders right now. The loans should be non-recourse and most leases are triple net, which means that the tenant pays for taxes, upkeep and utlities. No, there isn’t a course that I know of. It’s amazing that something so important should be taught by the school of hard knocks but it is. Advice: do not value a property by projections of future rents. Value the buy on the past performance. Values are based on cap rates, which are simply the yearly rate of return divided by the purchase price. Inverse of a P/E ratio of stocks. There is much confusion over what cap rates are but it is as I have explained.Commercial is in a free fall and is related strongly to rents. You are buying cash flow (rents) so if the economy is not good and won’t be good for awhile, the property may not be a good value. Good luck!!!
