All Topics / General Property / Residential as opposed to commercial

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  • Profile photo of WAFWAF
    Member
    @waf
    Join Date: 2003
    Post Count: 61

    residentialwealth,
    Hi would you be prepared to share your forms with others, of particular interest to me would be the one you used for purchase, as I think I’ve said I have no real knowledge about commercial property. Won’t be surprised if you don’t but any advice is appreciated.

    Cheers[:)]

    Profile photo of darrenbdarrenb
    Member
    @darrenb
    Join Date: 2002
    Post Count: 71

    MJK
    Net is after all expenses. The complex currently runs at 11% net/13% gross, plus GST.
    The property has 44 sheds and will be expanded by 50%. It is comfortably managed by an agent. It is on the outskirts of melbourne.
    If you keep an eye out, storage units come up for sale frequently. But you have to have 30-35% deposit.
    Pisces
    The property was running at a profit when I bought it. Im going to make it even more profitable. I wouldnt even have looked twice if it was losing money.
    I recently looked at a complex that was up for sale for $800,000, that was grossing $88,000. Not good enough, plus I would of had to manage it.

    Profile photo of wealth4life.comwealth4life.com
    Member
    @wealth4life.com
    Join Date: 2003
    Post Count: 1,248

    I agree with darrenb my commercial properties far exceed the returns from my residential ones. You must develop a clearly defined strategy on paper, in my opinion, and stick to them.
    I have drawn up a set of property forms that i use for a variety of functions including, purchasing, renovating, maintence, estiminating, developing costs etc etc, stick to the RULES to eliminate mistakes!!!

Viewing 3 posts - 21 through 23 (of 23 total)

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