- CoreyParticipant@coreyJoin Date: 2001Post Count: 1
Please tell us more about you first commercial property investment
Did you buy it in a company name ?
Did you need an ABN ?
Did you register for GST to claim back the GST portion of your tenants rent ?
Is the rent calculated on a per annum basis with an option to renew ?
Did you use a lawyer to draw up the lease ?
Did you use an option contract ?
Is the rent calculated on the number of square meters available to let ?
How is your loan structured and with whom ?
What LVR did you require to avoid mortgage insurance ?
Why have you ventured into this type of investment ?
Edited by – [email protected] on 24/05/2002 05:52:14 AM
Edited by – [email protected] on 24/05/2002 4:54:09 PMSteve McKnightKeymaster@stevemcknightJoin Date: 2001Post Count: 1,763
Lots of questions here – what I plan to do is address them in the next newsletter that I write.
However, for the time being I can say that there is a pre-GST lease in place until 2004.
I have purchased the property in a trust / company structure, which is registered for GST.
Loan is with the NAB based on either 70% or 80%LVR (still negotiating).
I have gone into commercial real estate as it seems like the next logical progression for David and I in our investing pursuits. Yields are good and the competition for residential properties is making it harder and harder to find great deals.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
Success comes from doing things differentlyDeanoWMember@deanowJoin Date: 2002Post Count: 1
Thanks for the great site.
I am curious to know more about commercial property investment too. Is there an 11 second type rule you can use and what other tools do you recommend for evaluating a deal?
Will you be doing a general description of how commercial property investing differs from residential, and what to look for in a deal?
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