Hi again,
Just wondering how many on this forum already own commercial properties?
Cheers Karen B!Hi Karen,
We’ve just recently bought one, and it is in the process of getting finance for it.
It costs more to get into a decent commercial deal, but I reckon it’s better for 3 reasons:
1. You’re not continually chasing tenants for money.
2. You can easily manage it yourself and you’re not paying property managers who don’t do their job properly.
3. Tenant pays all outgoings like rates, insurances..
Hopefully anyway, [
]Regards,
DelYeah I’m interested in commercial properties. Has anyone got any experience in this area?[:o)]
I jsut missed out on a commercial deal. It would have been my first experience.
It was a take away and factory on one title. It returned 8%. Yes a good deal compared to a negative geared property I have.
I got it valued by bank. Came back $25k lower than asking price $270k.
Factory lease to expire June 2004. Takeway lease expires June 2005, then 5 yr option if they wish.
I got cold feet as I was worried about the takeway and whether it was a long term tenant. If they walked and I was unable to find another tenant, then I lost my half of the investment.
It was a good experience going through the process. I am sure one day I will get a commercial property.
I think the starting point to invest in Commercial Property is to read ‘How Investing Commercial Property Really Works’ by Martin Roth + Chris Lang. I am currently up to page 107 and found it really help me in understanding Commercial Property Investing.
The book have a ‘Resource Centre’ pages 201- 215 which pack of commercial property website.
Warm Regards
ChanDollars
[Keep going, you’re on your way to financial freedom]
]
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