Good book for newbie commercial property investing

Discussion in 'Commercial Property' started by Mlee17, 6th Nov, 2020.

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  1. Mlee17

    Mlee17 Well-Known Member

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    Hi all

    Does anyone know a few good books to start off for commercial property investing? I've only read books in relation to residential such as Steve McKnight and Ben Kingsley from propertycouch, but haven't really been able to find good books for commercial properties.

    Any suggestions?
     
    Mlee17, 6th Nov, 2020
    #1
  2. SmileSydney

    SmileSydney Well-Known Member

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    SmileSydney, 9th Nov, 2020
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  3. The Y-man

    The Y-man Moderator Staff Member

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    I have to say the first place i heard about comm prop was one of Dolf's audio tapes and book done as part of RTK's rich dad series.

    The Y-man
     
    The Y-man, 9th Nov, 2020
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  4. balwoges

    balwoges Well-Known Member

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    balwoges, 9th Nov, 2020
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  5. Cousinit

    Cousinit Well-Known Member

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    Dolf De Roos wrote quite a good book on commercial property. Forget the title. Maybe have a look for that.
     
    Cousinit, 10th Nov, 2020
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  6. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 10th Nov, 2020
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  7. Cousinit

    Cousinit Well-Known Member

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    Cousinit, 11th Nov, 2020
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  8. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The book will have vast limitations as it is a 2008 edition and applies US law and tax matters eg No consideration for GST, differences in our leasing laws and things like land tax and outgoings and even stamp duty. Most CPs are strata and how the levies and special levies are applied can be a factor as well. This and legal matters concerning leases, bonds/guarantees can all add signnificantly to legal costs but in many cases the occupant may need to pay these costs.

    This one is even older but written by Australians (2003 ??)
    How Investing in Commercial Property Really Works by Martin Roth
     
    Paul@PAS, 11th Nov, 2020
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  9. Scott No Mates

    Scott No Mates Well-Known Member

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    I never found a single good book on commercial property as it's too wide a topic. Texts on valuation, property law etc, don't make easy reading but are quite valuable. Reading thousands of commercial leases helps build knowledge too (gees I must have been boring or devoted :confused:).
     
    Scott No Mates, 11th Nov, 2020
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  10. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    And the issues you encounter change every time.

    One of the best persons to initiate CP paths is a broker with non-resi experience. Finance can be a deal breaker for commercial and its nothing like resi. One of the problems that rears with heaps of resi deals is GST. GST ona new build, going concern and the number of people who suddenly realise they wont get finance from a lender for GST. And many who can self fund it who then ask to cancel their GST registration after acquistion...Ummmm no. One of the fastest ways to get assessed for a tax debt and penalties is doing that.

    Incorrect assumptions can erode yield and affect cashflows.
    - Broker
    - Lawyer
    - Great commercial REA support
    - tax advice
    all very key parties. More so than resi
     
    Paul@PAS, 11th Nov, 2020
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  11. Scott No Mates

    Scott No Mates Well-Known Member

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    Compared to residential agents, there is a large number of commercial agents who are knowledgeable (many degree qualified in property economics).
     
    Scott No Mates, 11th Nov, 2020
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  12. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Terry_w, 16th Nov, 2020
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  13. geoffw

    geoffw Moderator Staff Member

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    geoffw, 17th Nov, 2020
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  14. Mlee17

    Mlee17 Well-Known Member

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    Is steve palise reputable? I have never heard of him but then again i'm green to commercial property investing :)
     
    Mlee17, 20th Nov, 2020
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  15. Scott No Mates

    Scott No Mates Well-Known Member

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    A real estate book promoted by a solicitor :rolleyes::p
     
    Scott No Mates, 20th Nov, 2020
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  16. Mlee17

    Mlee17 Well-Known Member

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    i believe he works with you at rethink investing. did he pick your brain for the book? :D
     
    Mlee17, 20th Nov, 2020
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  17. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I wasn't promoting it or endorsing it or the author. Don't know him or anything about him or the book. I am just on the publishers email list and it popped up.
     
    Terry_w, 20th Nov, 2020
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  18. Scott No Mates

    Scott No Mates Well-Known Member

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    The main book that I reference is Butt's Law - Peter Butt. Not much of a guide for investment but good on property law.
     
    Scott No Mates, 20th Nov, 2020
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  19. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I have a butt on my shelf too.
     
    Terry_w, 20th Nov, 2020
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  20. Property Guts

    Property Guts Well-Known Member

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    Chris Lang has written some good books, i enjoyed all cover to cover.
    I bought Steve Palise book, to support an author, but ...umm, have not got past first 5 pages
     
    Property Guts, 19th Dec, 2020
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