Transitioning from Residential to Commercial Real Estate Pt. 2 | Investors Round Table
In part 2 of our conversation, we'll dive deep into the intricacies of analyzing and executing commercial real estate deals. Logan, Matt, and I will share our extensive knowledge and experience to help you navigate the complex world of commercial property transactions. We'll explore the key differences between residential and commercial deal analysis, uncover the nuances of the commercial deal execution process, and provide invaluable advice for first-time commercial investors.
Whether you're a seasoned residential investor considering the move to commercial properties or a real estate professional guiding clients through this transition, you'll gain valuable knowledge and practical advice. We'll cover crucial topics such as adapting your mindset, building the right network, and mastering the nuances of commercial deal analysis and execution. By the end of our discussion, you'll be equipped with the tools and understanding necessary to confidently take your first steps into the world of commercial real estate investing or to guide others through this transformative process.
Matt Anderson, Anderson Legal
Logan Freeman, FTW Investments
Get commercial real estate coaching, courses, and community to jumpstart your investment journey over at CRE Central: www.crecentral.com
Key Takeaways:
Analyzing commercial real estate deals requires a focus on income potential, detailed lease analysis, understanding market trends, and thorough due diligence - much more complex than residential analysis.
Important financial metrics in commercial real estate include cap rates, net operating income, debt service coverage ratios, and return on equity/yield on cost - very different from the residential focus on cash flow.
The commercial real estate closing process and financing considerations are much more involved compared to residential, requiring a strong team of professionals to navigate.
For first-time commercial investors, the advice is to start small, educate yourself, build a team of experienced advisors, and consider partnering with more experienced investors to add value.
Networking and adding value are key to finding opportunities and building successful commercial real estate partnerships.
About Your Host:
Tyler Cauble, Founder & President of The Cauble Group, is a commercial real estate broker and investor based in East Nashville. He’s the best selling author of Open for Business: The Insider’s Guide to Leasing Commercial Real Estate and has focused his career on serving commercial real estate investors.
Episode Transcript:
0:00
Are you looking to take the next step toward investing in commercial real estate but don't know where to go? Series central offers a comprehensive education and coaching platform designed to help you get started. Our online courses cover a wide range of topics, from the fundamentals to advanced strategies, ensuring you have the knowledge and skills needed to thrive in this competitive industry. As a member, you'll gain access to our exclusive online community and monthly group coaching calls, providing you with valuable networking opportunities and personalized guidance from experienced professionals. Whether you're a beginner or looking to take your career to the next level, cre Central has the resources you need, visit www dot cre central.com. To learn more. Welcome back to the commercial real estate investor Podcast. Today we are diving into part two of transitioning from residential to commercial real estate investing what you need to keep in mind as you're diving into your deal analysis, deal execution. And now we're gonna be giving some advice for first time commercial real estate investors that you should probably keep in mind as you're diving into the world of commercial real estate. We're gonna kick it off with Logan first wolgan What are the what are the main differences in analyzing commercial deals versus residential that a lot of first time investors might overlook? Yeah,
Logan 1:17
there's a few items that kind of come to mind. I think the first one being with commercial unless it's an owner user deal, it's pretty typically focused on income, right? So you're the deals are primarily evaluated based on their income generating potential, rather than just comparable sales. So that's probably number one. The second one being the lease analysis, you know, you got to have a detailed analysis of existing leases, tenant quality, lease terms, all of those things are very crucial. Third one, I mean, if it's not somewhere where you're living and or other people want to necessarily live, you got to know market trends. And you got to understand local market trends such as vacancy rates, rental growth, occupancy rates, all of those different things are very component, you know, very important to these these properties. And then the due diligence is a lot different. I mean, you might have environmental assessments, you've got zoning laws, you've got property condition reports that you have to get an engineering firm involved with just much more in depth. On the due diligence side. Lastly, I just say, you know, financial metrics, right, like, I mean, you got to understand cap rates, net operating income, debt service, coverage ratios, those are all critical for accurate valuation. But if somebody's just starting now, the biggest difference, I think, is moving from, you know, comparable sales approach, which is still important, right, but like, you might be looking at it from a per square foot basis. And not a lot of apples to apples compared to homes in a subdivision or duplexes in a specific area, you really got to understand the income.
Tyler Cauble 2:57
Matt Logan just touched on this a little bit. But let's dive further into the financial metrics, because that's a piece that I feel like is very different, like drastically different from residential and commercial. I mean, most residential investors are almost exclusively looking at the return on investment. So you know, what other financial metrics to you know, first time commercial real estate investors need to keep in mind and why are they important?
Speaker 1 3:20
Yeah, I think Logan's list was was pretty awesome there. And yeah, the financials are super important in before going specific. I mean, one thing to think about too, is you've got multipliers involved, right when he references cap rate. It's basically a multiplier. So one thing, one important thing to keep in mind on that is, you know, if you you go residential, and you miss the fact that it needs a new HVAC unit, for example, that's going to cost you whatever, that that HVAC unit would cost, right? If you go commercial, and you mess up, you don't realize there's a problem with the lease, or you're off on your your income numbers, or you're off on your expense numbers. Well, we could be talking about a multiplied problem there. Right. And so I just want to bring that up, because it's, it's important to really be careful on commercial for that reason. Well, there's many reasons. But that's one reason why. Right? So you know, we're focused much more on cap, right, we're focused much more on noi we're focused on, what are the rents in the economic vacancy versus physical vacancy? There's, there's a lot of different metrics that you want to pay attention to. That's different in commercial, then. Then in residential. One is exactly like what you're saying. We're talking about, we are still talking about cash flow, but we're not only talking about cash flow anymore, right? These other metrics matter to the bank, whereas when you go to get a residential loan, a lot of times they're not so like, you guys referenced, they're not so focused on the debt coverage, right? They mostly care is their LTV, the It could even be completely vacant, right. They don't even necessarily care are super worried about that in residential care. What's the what's the comparable value? What's your basic plan? And, you know, that's all you really got to think about for commercial, you got to think about the tenants, the leases, the noi, the debt service coverage, these numbers really make a big difference. Yeah, they
Tyler Cauble 5:16
really do. Especially if you're raising capital from investors, right? They want to know, a totally different set of metrics than what you're probably used to, if you're coming from the residential market. Logan's gonna get to somebody else that is totally different market dynamics. I mean, that is night and day different when it comes to residential versus commercial. I mean, in residential, I can go on the MLS, I can put in three bedroom, two bath houses within a one mile radius of my house, and I have, you know, 100 Cops, right, that I can say, Okay, well, you know, within extra degree of certainty. I know exactly what my three bedroom two bath house is worth. What does that look like in commercial real estate? And how does that impact your deal analysis?
Logan 5:54
Yeah, I mean, we just did this, right. I mean, we've got a call here in about 45 minutes with a group that's leasing a commercial building, and they want to present an offer to purchase it. Well, you know, it's a small warehouse and an interesting area of town. And, you know, it's really difficult to find comparable sales. So I mean, we had to actually just go on costar and figure out what deals had sold, but they didn't have any prices. So we had to call those brokers and say, Hey, what did that trade out? What do you mind sharing? We're working on this other opportunity. Right, and, and then try to compare that back to this specific warehouse. And then you've got, you know, okay, well, what's the building? Like? What's the build out? Does it have any office build out versus pure warehousing? You know, what, what improvements have been made? What's the land worth? I mean, all those different components, just to just value one small warehouse building, right? So it took us a week and a half just a run down the numbers to be able to get the comparable sales. And so I think that's like one of those components. And, and the other part is, like, you know, an office building in our urban, downcast downtown district, right, our downtown corridor is a lot different than our suburban office market over in Overland Park. And so you can't really just say, Okay, well, that high rise is the same as that high rise down south. It's like, what where do people want to work? You know, what, what is it? What What, what, what are they doing in regards to amenities around the downtown versus suburban, you know, what's important to employers right now to attract talent, all of that goes into the valuation of their property, because that's going to create the marketability of it getting leased up. And so those are different components, instead of just looking at a spreadsheet, or, you know, pulling comps off of the MLS to, to be able to try to compare this house to that house or this duplex to that duplex, it's it's much more in depth, and a lot of times the data is not there. And it just you have to rely on people who are doing the the the actual transactions in the marketplace.
Tyler Cauble 7:55
It's right, it gets incredibly nuanced. I mean, the the example that I like to use diving into this is the exact same property identical on opposite sides of the street, one could be worth 20 to 30% more, because it's on the right side of the street to whoever the buyer may be, right. I mean, you think about the different traffic patterns. Well, do you want a coffee shop on the side of the street, where it's very easy for you to turn right in as you're going home? Or do you want your coffee shop on where you can turn right into it as you're going to work? Those are two very different locations, even though they may be directly across the street. Matt, let's dive in.
Logan 8:32
Yeah, one more thing I wanted to talk about that I don't think gets talked about enough. And it's because sellers right now, not wanting to potentially sell their their properties. I've been really trying to hone in on the return on equity conversation. Right? So like, you might be sitting on $500,000 of equity. And when you bought it, you put down $250,000? Well, it's appreciated, right? I mean, the property is appreciated, because maybe that neighborhood retail shopping center is, you know, in high demand, right? And so like, it's trading at $180 per square foot in that sub market, and you don't know that, and you're looking at your return on equity. And you're like, Well, you know, it's spitting off 9% Whenever I had it five years ago, and I had $250,000 in well, if you had long term leases, in that building, it highly did not correlate with the amount of appreciation that happened. And so we're trying to hone in on really this return on equity, which is what is your equity now? And what's your return because as your property appreciates, and you have more equity in the deal, and your noi growth was not substantial enough to keep up with that appreciation? Now your return on equity has gone down substantially to maybe a six or 7%. And so how do you unlock that? Well, I mean, that is unlocking it through a 1031 exchange. And or saying I gotta get these tenants out of the building and and or push the rents on these things. So helping commercial Real Property Owners right now understand return on equity. The other component that I'd say that I really like to look at, especially on value add deals is yield on cost. So what's my stabilized year, two year three noi divided by the amount of capital that we have in there with improvements, right, and then understanding what that is and what the market cap rate is, is going to give you a developer spread. And that's what you should be looking at on some value add deals to see if it makes sense to do those projects. And if you don't know what those those terms mean, that I just just communicated, then that's a great thing to really hone in on and understand because nobody talks really about return on equity or yield on cost on a single family home or on a duplex. It's all about cash flow. And so that's just a big nuance when you're looking at these Commercial Investments.
Tyler Cauble 10:46
That's right. And I think you're being generous there with the potential return on equity, typically, when when we get in and start doing a return on equity analysis, which for those of you who have never heard that, it's essentially just a new return on investment calculation, right? When you calculate ROI, it's as you're going into a property. It's a snapshot at that time. This may be three, four or five years down the road, we're just taking a new snapshot, how much capital do you actually have trapped in this deal based on the appreciation of the value? And timber oftentimes that values like 3% 2%? It's, oh, well, we're gonna say,
Speaker 1 11:21
Well, as you say, you know, we're talking a lot about these different numbers and acronyms and all that I just want to plug a book recommendation real quick, which is what every real estate investor needs to know about cash flow, something of that nature. There's another good book. That is the That's right. Yep. There's another book that came out from BiggerPockets. Not that long ago, that goes into a lot of more detailed cash flow numbers. So there's some good resources. I mean, it's, you know, it's not as easy as reading about someone's homeruns. And how they flipped their houses or apartment buildings, you got to really, it feels like you're back in college a little bit, you got to actually learn some definitions and things like that. But it's part of it. You got to you got to know these things.
Tyler Cauble 12:01
That's right. It's you got to get the textbooks out again, which is always fun. Just those off. Matt, can you walk us through the typical process for closing on a commercial real estate deal and highlight where that's different from residential? Because that, to me, might be the most shocking aspect of buying commercial real estate for residential investors. Because when we're in a hot market, you'll see residential investors close in 14 days, 30 days, no contingencies. I mean, it's just it's wild, wild west. But you can't really do that in commercial walk us through that. Yeah,
Speaker 1 12:36
it's kind of the other thing that's funny and shocking to people, which seems counterintuitive is how you can do a residential closing and the paperwork this high. And then you can do a commercial closing. And the paperwork is like this small, which is very, you know, I remember first time I did commercial, I was like, this makes no sense. I would have thought there'd have been much more paperwork at the closing table.
Logan 12:57
The government involved? Yes. Fair
Speaker 1 13:00
Housing. Yeah. Yeah. So go figure. Um, but yeah, I mean, the biggest thing that to look out for is exactly what we talked about already. To me, this is the most important thing, and if anything, which is the buyer, beware part, right, because you get on residential, you get a lot more hand holding you from the lender from, you know, the paperwork, there's disclosures that are required, you know, so we've covered that quite a bit already. But I still think that's the most important thing by far. And then other than that, I mean, you really need a team. to scrutinize your lender documents, you need a team to scrutinize your leases, you need to get your estoppels you need to either be qualified to understand what paperwork you need at the closing table, or you need to have professionals that you know and trust, who can help you determine that you do have the right paperwork in order. Whereas with a residential, I'd say big picture. That's the other big thing, right? Because residential, if you just have a real estate agent or a title company that you can count on. You don't have to be that concerned about the closing paperwork, I would say largely right. Whereas with commercial if you didn't read the estoppel you didn't read the representation you didn't read, provision 29 And your PSA, PSA agreement. Right. If you didn't read any of the paperwork, you could be in serious trouble. Yeah,
Tyler Cauble 14:30
it makes it makes a big difference we've got we've got a handful of people in the in the live chat when I are in watching live. I want to see where y'all are at I mean drop a drop a one in the chat if you are in residential and you want to transition to commercial, drop a two in the chat if you started off in residential and you've already made that switch we want to see where you guys are Logan, let's talk about the due diligence process because that's pretty different. Right? That is why you need so much more time under contract with What the hell do you have to do and due diligence on a commercial building? And why does it take so long? Yeah,
Logan 15:04
I mean, there's there's the first port is depending on if it's a multifamily building or a commercial building is understanding the lease the leases and the rent roll. And I don't mean just looking at the rent roll and saying, hey, you know, current market rent is this, this is what they're charging, because now we've got, potentially, if you're talking about a triple net lease deal, we've got common area maintenance, we've got cam reimbursements, we've got all these different components that really have to be digested and understood. I mean, for example, on our 215,000 square foot Industrial Building, the km process could just be a PowerPoint slide in and of itself, because the H fac that serves the common areas is different than serves the manufacturing buildings, or the manufacturing spaces. And it's all built back very differently, right, just because of the way that the leases are, stood up and written. So lease abstracts on commercial buildings extremely important and understanding that zoning and restrictions on commercial buildings, you might go into a shopping center, and learn that, you know, you've got some vacant space. But a shoe carnival says they sell some candy up at the front of the register, you can't have a candy store in your shopping center, because they've got some sort of covenant or restriction on that shopping center where they they're not going to allow anybody else to do that. Now that might be an extreme example. But there is those there are those types of examples in those shopping centers, because the previous owner to get at least up make concessions with those tenants. So you couldn't put other types of tenants in the building on the multifamily side, understanding when leases are going to roll, understanding renewal rates, delinquency, loss to lease concessions, all of that gets very important when you're under you're looking at a 200 300 unit apartment complex, because those figures really start to add up. are they charging pet fees, application fees, you know, do they have parking, all all of these different components are very important. And it's not just one thing to see it on a rent roll or a t 12. You really need to see those service agreements and those leases. And so that's another component here, I'd say is on these larger deals, commercial deals, having understanding around service agreements, I mean, there's so many times that I've gotten locked into, you know, a contract on washers and dryers with jets on a property and trying to get out of those contracts is basically like pulling teeth, you know, I mean, you're not gonna get out of those contracts, and they're, like, 1525 years long, you know, I mean, that's just the way that they're structured. So all those nuances if you have a value add plan, or you want to start making changes, if you don't know the restrictions on the front end, and you go and buy this property, and you start to try to make those changes, and you can't because there's some legal requirement on the property, man that could really impact your your business plan. So leases, service contracts, understanding rent rolls, highly important, and zoning and and any covenants and restrictions that that you might have in regards to those those shopping centers and or industrial buildings.
Tyler Cauble 18:12
Yeah, I mean, it's, there's so much that's involved in it. That's why I always recommend find somebody to hold your hand as you go through it. Whether that's a that's an attorney, a great commercial real estate broker, a partner, a mentor, doesn't matter if it's your first time going through the process. Don't Don't cowboy it, just find somebody to help you through it. Matt, speaking of cowboy yet another thing that you really cannot cowboy and commercial real estate is financing. Dam is that different. And that's that's kind of our last point here under the deal execution process. I mean, when it comes to residential, you can kind of go to just about anybody, you're going to almost get the exact same terms, and it almost always comes down to what are you making? And what's your credit score? Financing is totally different in commercial real estate, can you kind of give us an overview on that?
Speaker 1 18:58
Yeah, and I'll and I'll kind of share a different thing to think about too, you know, I literally got off of a call with somebody today or yesterday, and they've got like, 100,000 square foot space. And they had their lender lined up approved commercial loan, and they did an inspection in the tenant put going out of business sign on the space, literally, like we're talking about the day before closing. And so the lender pulled out. And it's just, you know, it's a very different dynamic, right? Because you're just looking at different things. And that's a terrible situation. I hope, you know, I hope he can figure that out. But it's just the lending is so much more important for multiple different reasons. Like they have a lot of power, you're dealing with, you know, most of the time five year terms. Maybe you're dealing with bridge debt. It's not like residential. And so when you that income, you know, if you've got a residential property, and you have a bad tenant situation, one of these horror stories you hear about and you can't get the tenant out for sale. next month and you don't have income, the banks not going to have to take the property back from you most of the time under those loans, right. Whereas in commercial, if you don't have the security, you don't have the income from the leases, you're not meeting the debt service coverage, or you've got some vacancy problems, or you've got a space you can't get rid of, that can have some serious repercussions, and you could actually lose significant amounts of equity there. Right. So that's another important thing to think about. So I think I accidentally slightly didn't answer your question, though. I think I got off track. on a on a different point. What was your question? Now?
Tyler Cauble 20:36
You got I mean, you're you're on track. It's just the financing considerations? Like how is that different when it comes to commercial versus residential? Well,
Speaker 1 20:43
yeah, and so there's a lot more, there's a lot more due diligence, there's a lot more nuances involved, there's a lot more that goes into, you know, if you're getting personally guaranteed commercial loans, the financial well being of the partners involved, right, in, you know, there's it comes down to the leases, right? At the end of the day, the bank wants to know that the income is going to be there and that it's stable, probably more than anything else, right? Is that income going to be there to support the loan? And if they have concerns about that, then it's going to change things. In my mind, most of it stems from that right, if we have environmental concerns, if we've got concerns about the tenant credit, you know, credit if we got concerns about any of those things, it's coming down to the income it's a focus on income not not the asset comparable value. Yeah,
Tyler Cauble 21:35
it's like global cash flow and I mean, there's there's so much that goes into it it is a sides in an art on it. So yeah, Nicky Mac is saying to made the switch already. grisolia is saying one, you know, in residential, but wants to make the switch John is saying to made the switch already. Cool. We got we got a little variety in the in the live stream at the moment. Wogan? What advice would you give to somebody like chrysella? Who is, you know, a residential investor looking to analyze their first commercial deal and move into commercial real estate investing?
Logan 22:08
Yeah, I mean, I think, you know, start small, right, like, try to get some reps underneath your belt, I mean, begin with smaller commercial properties, smaller multifamily units, or some small retail spaces. So you can really start to understand before you try to scale up, you know, I think that that's, that's one thing, pick something that you like, right, like, you know, maybe it's, you know, what, that we haven't talked about is land, you know, maybe making the residential to commercial side is understanding land and figuring out how to transact land and rezone land or something like that, right? I mean, I think that's number one. And I'm kind of doing some of that on my own right now, which is understanding a new asset class of land, and I'm going on the market, I drive by properties. And I say, Man, that's a, that's a really interesting piece of land, I wonder if I get three or four different parcels out of that one piece of land. And so I'm just contacting brokers myself, and kind of going through a thought experiment and drawing it out and then saying, Okay, what the, what now I'm gonna go to the county and figure out what their requirements are, and how hard it is to work with them. Right. So start small, you know, I think, do what you're doing here, which is educate yourself, you know, you got to invest time and learning about commercial real estate, through books, courses, mentorship, podcasts, you know, I think that's important. Build a team, like assemble a really strong team of experienced professionals, that can include a commercial real estate broker, attorney, accountant, engineer, architect, these people are working in the industry on a regular basis, big focus on the financial so that understanding what we talked about in regards to all those different, you know, Return, return metrics, and all that is very, very important to understand. And then lastly, just network, you know, I mean, I think that go out network to find potential partners, deals, insights, you know, those are, those are great ways. And one great way to do that is go find an off market deal or go grab a property owner that you know, and bring in somebody that's experienced the day before and try to get involved in that process.
Tyler Cauble 24:12
Yeah, that's, I mean, that's, that's how I got my start, it's a great way to do it. And here's the thing, don't go talking to those people thinking that you're gonna get 50% of the deal. Right? If they're gonna bring the cash, they're gonna bring the experience, they're gonna bring their balance sheet, they're gonna bring their contacts, if you get five or 10%, that's a hell of a deal. Sure, of course, swing for 20 or 25. But let's be honest, I think the three of us sitting here on this panel would do a deal all day, every day, if it meant we got 10% and didn't have to sign on the debt and we didn't have to put up our own cash. That is a no brainer, absolutely no brainer. I had somebody reached out to me today that wanted, he wanted to take 50% of a deal. And, you know, the Self Storage investment that he was pitching me, and I was like, cool, you know, what do you need for me? You just need me to be the key partner on it kind of side of the debt, you know, bring my balance sheet and he's like, No, I need you to bring your investors, I need you to do the due diligence I need you to I mean, he just started rattling everything off. I was like, I'm sorry, man, love it. Thank you for bringing me this deal. I don't think this is gonna be a fit for us. Let's, let's catch the next one. Matt, you know, Logan talked about this a little bit. And, you know, I touched on it a bit too. But building a team of advisers, I think that that cannot be stated enough. I think that, that is one of the most important things that you will have when you're getting started. Because it's a lot easier to learn how to build a house from somebody that's been doing it for 30 years than to learn it from a textbook or by just jumping in and try to figure it out yourself. So that being said, who should be included on this team?
Speaker 1 25:43
Yeah, I mean, depending on what you're doing, you probably need a great broker, you probably need a great banker, you need a great attorney, you need both, you know, I mean, the list goes on, I mean, you do, you know, and I just want to like the but I think part of the problem is like, how do you do that? That sounds, you know, you can hear that all over the place. But how do you do that, it's kind of tricky when you're new. Right. And so I think bridging what you guys were just talking about, I think partnering is a great way to shortcut a lot of this right? If you partner, if somebody comes in partners with you, Tyler, and a deal in the way you're talking about, you're gonna already have the capital, you're gonna have the people with the money, you're gonna have the attorney, you're gonna have the right, you're, you're gonna have the broker or be the broker. So I think that's a great shortcut in all of these things, you've got to you've got to be persistent. In your education, you've got to make relationships, and you've got to add value, at the end of the day, in some way or the other, you've got to add value, right? Either you got to add value by finding the deal and giving away a lot of the deal to someone, you've got to find, you got to add value by having the money, you got to add value by being able to operate in a way in a great way. Right. So and that's different from everybody. So I would say you need to start where you're at, everybody's got to start where you're at, find out what you can do what you can offer at this point in time, and build on that, right. If you don't have relationships, you need to get out there and make relationships. If you don't know some of the terms that have been discussed on this call today. You need to go learn them, you need to spend some time on education. If you if you think your value is going to be in finding deals, but you're not in a place where you're comfortable to make offers. You need to figure out what you got to do to get comfortable to find deals and make offers, right. So I think that's just something to think about because people want to think about partnerships. But they don't want to think about the work that is required to become valuable to a partner. So that's
Tyler Cauble 27:43
exactly it. Yeah, I mean, you gotta be carrying your own weight. And there's so many different ways that you can do that. Right. Either you've got the money, or you you've got the property or you've got the team or you're putting in the sweat equity. There's so many different ways that you can contribute into a deal. Just make sure that whatever it is, it is valuable enough to a partner that they will bring everything else to the table. Guys, if you are looking to invest in land, or you're in a 1031 exchange, call Logan. If you need a real estate attorney reach out to Matt, their contact information is in the description. As always, gentlemen, appreciate you all for joining me. We'll see y'all in the next one. Thanks, guys. Are you looking to take the next step toward investing in commercial real estate but don't know where to go? Series central offers a comprehensive education and coaching platform designed to help you get started. Our online courses cover a wide range of topics from the fundamentals to advanced strategies, ensuring you have the knowledge and skills needed to thrive in this competitive industry. As a member, you'll gain access to our exclusive online community and monthly group coaching calls, providing you with valuable networking opportunities and personalized guidance from experienced professionals. Whether you're a beginner or looking to take your career to the next level. Cre Central has the resources you need. Visit www dot cre central.com To learn more
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