I haven’t been to one of his seminars, but I know Chris pretty well. He has been working in the Commercial property industry for over 30 years, so he is a wealth of knowledge. He spoke at one of the Wealth Creator seminars late last year, so I’m sure these was someone out there who has heard him speak.

Regards
Alistair

Hi Mal,

There is no minimum size, there are other conditions you have to meet that makes it difficult to subdivide below a certain size, but at the end of the day what you can do with a block largely comes down to the skill of your designer.

Much of Mt Eliza has a Design and Development Overlay which, as you stated, restricts blocks being…[Read more]

I have not looked into the mining towns yet, as I am wary of the tenants.

– Lots of single blokes with nothing to do after hours and plenty of money for booze => damaged property
– Many mining jobs are very well paid but often boring and repetitive. Coupled with lack of females this can lead to frustration and anger => damaged property

– Most…[Read more]

Hi Ems,

The Richest Man in Babylon is a great book, most other wealth creation books seem to use the same concepts, but are not nearly as interesting to read.

Regards
Alistair

Richard is correct. It is a very common misconseption that commercial lenders will only go to 60 or 70%. The truth is that where the deal is strong ie quality borrower, tennant, property and lease, commercdial lenders are very flexible.

Regards
Alistair

Hi Carpe,

If you don’t open dialogue you’ll never get anywhere. Howe much info you give him is up to you, but I can’t see how you would be disadvantaged by meeting with him and opening discussions.

Regards
Alistair

Hi Carpe,

I would suggest you be upfront with the guy. Meet with him in person and tell him you are willing to sell, but only for a decent price. You could also offer to JV him in devloping the 3 sites together.

If he is unreasonable then just wait him out. If he is a professional developer he needs to turn his projects over, he won’t sit on the…[Read more]

Thanks for your kind words Kevin.

Regards
Alistair

Hi Ogilvy,

Another thing you might like to consider is the use you put the shopfront to, shops in secondary locations (ie not is a major shopping strip) are often difficult to lease, but they are also often attractive to businesses such as medical practices or as offices. I strongly suggest you speak with a specialist commercial agent re what is…[Read more]

Asset Loan are a public company, go to their web site and get a copy of their annual report and you can make your own mind up re their stability. They are a short term aset lender, as suggested by their name, with ratesstarting from around 3% per month. They don’t lend at high LVR’s, I think 70% is their max.

Regards
Alistair

Removed because I already know about what is on offer

One area, and it was mentioned, is borrowing. If you all go on the loan together then you will all be responsible for the whole debt individually.

And to make matters worse, if one of those five goes for a loan later on, one another property in just their name, the new lender will assess them on only their share of rental income for the syndicate…[Read more]

Hi Dougie,

There is a guy called Chris Lang who puts together small syndicates to buy commercial properties, he has a free ebook on the subject on his web site http://www.gal.com.au.

Regards
Alistair

Hi KALTS,

I have pm’s you the contact details.

Regards
Alistair

Hi KALTS,

Have a look at Mt Isa, its a large town that is really moving ahead and still offers quite good cashflow. I have a couple of clients who are developing up there, I’d be happy to put you in touch with them if you are interested in the town, they are a wealth of knowledge.

Regards
Alistair

Hi Tammekand,

You simply won’t get a good quality commercial property at that price with a 10% yield, or anywhere near it. If you want to go down the commercial road, get yourself some good quality advice. If you let me know which State you are in i would be happy to refer you to a knowledgable commercial buyers agent in your area.

Regards
Alistair

Hi Damien,

I would suggest you make a time line of how frequently you wish to purchase your subsequent IP’s do an analysis of how much you can save in between, and consequently how much you will need in the bank. You need to align your available cash with what you will require to complete the purchases.

If you can put 20% into the first property…[Read more]

Hi Sarah,

If you like that side of town have a look at West Footscray, it is pretty high up the list of the fastest growing suburbs, in terms of median price, over the last 10 years.

Regards
Alistair

What are the other features of the loan ie interest rate, fees etc? A $1k furniture package sounds nice, but is not so attractive if the loan is going to cost you more than that compared to other 100% loans on the market

Hi Redfox,

The cost of town planning depends on the project, whether you employ decent consultants or go for the cheapest you can find, timing will depend on similer issues. For a simple dual occ development you can look at $4-5k for a good town planning consultant and probably around $7k for the plans. You will need some other consultants such…[Read more]