“People want to be successful – they want to borrow someone else’s diploma. Learn how they did it. People ask me everyday how I got started in commercial real estate. How I made my money and became successful. I was an investor first, before I was a real estate broker. Like the CEO of a large corporation that starts in the mailroom, I learned the craft by doing it. I had to prove my resume by wearing the toolbelt. In 1978 I purchased a 6 Acre tract of land for $23,000 with 78% owner financing against the advice of my parents who were very conservative. Six months later that property appraised for $155,000. I was sold on the real estate business. I knew it was going to be my future.
Over 40 years later I am the owner and broker of Krise Commercial Group, a commercial brokerage licensed since 1984. Licensed in the states of both Florida and Georgia, I hold the coveted CCIM designation, an accomplishment that taught me the world of professional real estate.
I always wanted to make money in real estate. For the first 20 years I made some very good acquisitions that had good returns. However, if I had pursued my CCIM designation earlier in my career, I believe that I would have made considerably more money. What I learned was, the type of investment is as important as the cost of the investment. In the beginning, I was young and bought what I could get without considering long-term investment quality. What I didn’t realize is, I could have gotten any type of asset I wanted with the same money, I just didn’t know enough about commercial real estate to make an educated choice. Who wouldn’t say that it was a great investment if you purchased a 6 acre piece of land for $23,000 with only $5,000 down and owner financing, then sold it 24 years later for $895,000? I loved it, but all those years that I held it, I had to pay for land, taxes and associated other costs of owning vacant land. Years later, armed with experience, and understanding income-producing investments, I had other people paying my cost of owning land, including the equity and other associated expenses – for me.
I had to learn to make money for myself before I could make money for you.”