Hi Everyone, any tips for buying commercial properties? I'm new to this area of investing, and not sure where to begin.
Thanks in advance Julee.Firstly you'll need to decide your budget, the type of property that you are after (commercial/retail/industrial), whether you want it vacant possession or with a tenant in place.
Other considerations will include location, zoning, usage, age of premises, functional obsolescence, condition of plant and equipment, bylaws affecting usage (if strata), parking, services (ie how much power, water, grease trap capacity, phone/data capabilities etc).
Registration for GST (more important if you are buying with a tenant in place – even for 1 day).
Then you enter into a totally new realm of commercial leases or retail tenancy legislation.
Sounds scary. Can you recommend any informative books?
I've read a couple of books on property investing, but they seem to skim over the nitty gritty when it comes to Commercial property.Hi Julee,
Commercial property is a whole different ballgame to residential properties. I've looked into it previously, and can suggest a couple of books to read to see if you want to go for it or not. These are;
How Investing In Commercial Property Really Works – Authors Martin Roth & Chris Lang, published by Wrightbooks
ISBN 0-7314-0293-6Good Commercial Sense – Author Karina Barrymore, published by Wrightbooks ISBN 0-7314-0633-8
Both give a good breakdown as to the different options, financing, strategies etc and cost around $30. A worthwhile purchase to let you know what's what.
Have a look at the local tafe bookshop – get a couple of the texts.
Thanks guys.
Looks like I have some reading to do.In addition to the books above:
Commercial Real Estate Investing by Dolf De Roos is also a worthy book and this excellent thread:
https://www.propertyinvesting.com/forums/property-investing/commercial-property/4325441
Also search thru the Comm Property section of this forum for more info.
Thanks Micheal.
Now I just have to get my head around all the info.
julee.d wrote:Hi Everyone, any tips for buying commercial properties? I'm new to this area of investing, and not sure where to begin.
Thanks in advance Julee.your request to a particular country & location might help get a response
Generally, commercial property needs big investments. Seeing the current market, it wouldn’t be too attractive investment. Better invest in multiple purpose property for small spaces instead of having complete property.
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