COMMERCIAL REAL ESTATE -- 'Too Soon Old, Too Late Smart'

By Brent Greer
Prudential CRES Commercial Real Estate

These words, "Too Soon Old, Too Late Smart," resonated with me earlier today. During lunch with a long-time buddy, Jude Cuddy, he mentioned that those words have become a favorite catchphrase his father, Joe, uses. I had to laugh . . . I know the meaning all too well. Especially when I cross paths with younger people who ask me to help them jump into investment real estate.

Recently, I have begun working with a gentleman in his mid 20s. He has worked hard, stashed away money, lives "frugally," and through research has recognized that investment real estate can help him go far toward setting himself, and ultimately, his heirs, up for life. I'm not talking about house flipping, or buying the no money down properties that are repeatedly re-financed (you are reading about a lot of THOSE purchases these days in the foreclosure pages). I'm talking about shrewdly investing in investment real estate to hold for income, then exchange for larger properties in five to six years time, and exploiting a number of tax advantages during the process. When I met this young man for the first time, and quickly learned what he knew, I was reminded of the old phrase, "I wish I knew then what I know now." For on several occasions I have remarked on the things I wish I knew when I was 25 or so, that some of my younger clients know today at that age. What's more -- they are are acting on what they know!

"Too Soon Old, Too Late Smart." That really hit home for me. We DID think we knew everything when we were still wet behind the ears, didn't we?

Brent Greer is an investment specialist in Columbus, Ohio with Prudential CRES Commercial Real Estate. Brent represents buyers and sellers of income-producing properties, particularly multi-family, land and office, and consults on IRS 1031 tax-deferred exchanges. Email: bgreer@prudentialcrescolumbus.com