Don't disagree with this at all. I do think that certain attitudes can be counter-productive in certain situations, though; it's also about assessing the person you're dealing with and knowing what will work with (ie "against") them. Look forward to hearing more about your CIP experiences. Cheers
For many people, success in resi provides access to the comm market. 100k doesn't go far with comm but at least you can leverage up with resi. Once some equity is built up in resi, branch out into comm. Although Daz used to bag resi, if my memory serves me correct he entered comm through accessing resi equity. Goes for other examples as well such equity markets. Sure there is no repairs expense when you hold NAB, but there isn't the same leverage available as RIP.
As an observation, I think BG's post and manner is nothing more than an intergenerational difference in the use of a forum/social media. My 2c.
I'm sure Harry Triguboff might disagree that apartments are a compete waste of time! Are you talking about holding or developing?
I don't care about Harry Triguboff, what he does is his business. If he's making money, fantastic. A bit of both, the end result depends on "can it be rescued" or "better to develop"
Looking forward to the war stories, there used to be a guy (Dazz) sharing commercial stories alot but we scared him off Looking forward to hearing some new ones.
I've had a few development wars, lost a few, won a few, but not the battle. (not yet) I learned a hell of a lot in my 3rd year. I was looking at the wrong end of the stick for awhile, until it was pointed out to me, let the owner tell you what he wants. Then it all fell into place.
(no, he was banned for being too abusive towards other members - he wasn't really scared of anything - certainly didn't shy away from a bit of argy-bargy on the forums)
What's your opinion on how much money you need to go commercial? Resi most are going in 90%, but commercial is usually 60%-70% and they usually want to see a tenant up front.. Every CIP under $1m seems to have crappy yield or crappy type of tenant. If we want to have a go at a small one to start - do you reckon it's worth it or wait till we have more $$$?
In terms of commercial, I only concentrate on Hotels and Pubs, that have potential to be enhanced or developed. Commercial in terms of warehouses' and "other - that your referring to", I have had no interest or otherwise. Mainly because of as you said, crappy yield or crappy tenants. To get up there with the big boy's, ie; Toll, Linfox and TNT, you need deep pockets and an attitude, that say's, "oh well if they go broke or move out" I still have my warehouse.
