Hi Folks,
Well I have been a very occasional poster, but visit the good ship SS twice daily (quite additive). After lots of reading of the threads, books and speaking with some advisors, then changing the plan in Feb from resi to commercial, I thought I would take the plunge and start posting more…
This will be more like a “Newbie’s Journey in Commercial IP” thread as the journey unfolds.
So whilst I have read, “Best to jump in” I wanted to educate myself on the terminology, and research specific areas. I am encouraged by this post July 2005 by a newbie.
http://www.somersoft.com/forums/showthread.php?p=161614#post161614
My posts will highlight the following areas (at least these are the blanks that I know about now, but I feel confident I have missed a lot)
1. Which type of Commercial to go for.
- At this first stage I am looking at industrial in the Eastern Brisbane Area
2. Financing
- Vendor finance, how does this really work
- I have heard people talk about using 30 day bank bills, but I don’t know how this works
- Talk to Comm Mortgage Brokers
3. The Lease
- Core elements to get right in the lease (Dazzling has mentioned some fantastic clauses)
4. Researching
- Pick 2 agents to deal with
- Realcommercial.com.au
- As I am in Brisbane, the best papers seem to be the Courier Mail on Fridays and Saturdays
- Build a spreadsheet to measure each property on it’s attributes (total area, NLA, $/m2/year, cap rate)
Our plan for the next quarter (July 1 – Sept 30) to research a particular area to determine: deal types, sources, method of measuring a good deal. I also find out how much equity from a business I can release in this timeframe, which may lift me out of the entry level commercial.
Once we have determined our criteria, we will look to purchase in the Nov - Dec timeframe.
I have been quite withheld in the past with posting as I couldn’t see a lot of value that I could add at this point in our journey, but perhaps others can see this thread in a couple of years and say “Jeez, I won’t make that same mistake that Horizon made…”
Anyways, thanks for reading.
Cheers,
Horizon
Well I have been a very occasional poster, but visit the good ship SS twice daily (quite additive). After lots of reading of the threads, books and speaking with some advisors, then changing the plan in Feb from resi to commercial, I thought I would take the plunge and start posting more…
This will be more like a “Newbie’s Journey in Commercial IP” thread as the journey unfolds.
So whilst I have read, “Best to jump in” I wanted to educate myself on the terminology, and research specific areas. I am encouraged by this post July 2005 by a newbie.
http://www.somersoft.com/forums/showthread.php?p=161614#post161614
My posts will highlight the following areas (at least these are the blanks that I know about now, but I feel confident I have missed a lot)
1. Which type of Commercial to go for.
- At this first stage I am looking at industrial in the Eastern Brisbane Area
2. Financing
- Vendor finance, how does this really work
- I have heard people talk about using 30 day bank bills, but I don’t know how this works
- Talk to Comm Mortgage Brokers
3. The Lease
- Core elements to get right in the lease (Dazzling has mentioned some fantastic clauses)
4. Researching
- Pick 2 agents to deal with
- Realcommercial.com.au
- As I am in Brisbane, the best papers seem to be the Courier Mail on Fridays and Saturdays
- Build a spreadsheet to measure each property on it’s attributes (total area, NLA, $/m2/year, cap rate)
Our plan for the next quarter (July 1 – Sept 30) to research a particular area to determine: deal types, sources, method of measuring a good deal. I also find out how much equity from a business I can release in this timeframe, which may lift me out of the entry level commercial.
Once we have determined our criteria, we will look to purchase in the Nov - Dec timeframe.
I have been quite withheld in the past with posting as I couldn’t see a lot of value that I could add at this point in our journey, but perhaps others can see this thread in a couple of years and say “Jeez, I won’t make that same mistake that Horizon made…”
Anyways, thanks for reading.
Cheers,
Horizon