Individuals who get their first taste of real estate success will relish the accomplishment. After all, it took some time to get educated, find the right property at the right price then sell or hold the property. And once that first peg is notched, you cancommercial real estate investing bet they’re already thinking about their next deal.

Just getting past the first transaction is a milestone that all real estate investors cross. And after a time, more and more units are bought and sold.

Most investors start out relatively small, typically a single family home or a duplex that is more easily managed with fewer moving parts. Starting out small allows an individual to get a real taste for real estate investing before tackling larger, more profitable projects. If this is you, are you now ready for a commercial transaction?

Investing in commercial properties does require additional skill sets but the premise remains the same. Find the right property at the right price then evaluate the prospective purchase with your team and move forward.  What are some of the things you can do in advance to help your first commercial experience run smoothly?

When evaluating a purchase that’s listed for more than $1 million, be prepared for a bit more due diligence cash up front. While a single family home needs a property inspection just as a 30 unit apartment building, the services for larger projects simply cost more to complete. Don’t be surprised at a $4,000 fee for reports bring you to the conclusion that the purchase will be a bad decision.

Make sure your financing is lined up and the loan officer you used to buy a rental will be someone else in the commercial lending office. It’s a much different process and you need to know in advance what the bank will expect from you both in terms of your financials as well as a potential property. And speaking of commercial loans, make sure you have a private lender on your speed dial that understands the commercial arena.

Finally, bring the expertise of your team to the table and add players with commercial experience. A commercial real estate agent has a completely different skillset  compared to residential agent and can help you avoid certain pitfalls associated with the different types of commercial properties.