Property Strategy along with business growth

Yes thanks spludgey, I will look into that in depth, thanks for the guidance, appreciate the love I am getting from the forum! Timewise, I can delegate my work quite easily, if it is fun I will make time/divert time.

 

Ha! I like that. I have thought about it, but require specific locations and size of the property so quite limited with stock, owners wont sell to me as well when I approached them first. It is my plan to build up client following at a few central locations and build a few clinics myself in a few years.

Again, you have brought up the importance of me finding a good broker who are able to understand all that. ANZ is very keen to loan me money at 100 LVR for commercial property as well (ANZ Health), and i feel like i will eventually have too much loan at one lender cause they treat me so well XD

 

Further to that, @The Y-man are all mortgage brokers here experienced with commercial loans too?(Do you need to specialise in it?). Location does not matter to me, phone meetings are the future.

 

Hahaha fair enough! Will start my search, thank you once again, your input has been very helpful!

 

An update to my Journey I suppose: Following an appointment with my accountant/advisor, he suggested me not to purchase any houses if I want growth, he expect the housing market to slump within the next 6 months with an expected 2 percent increase in interest rate, he reckons put all my money in an offset account for my current home loan, and wait for an opportunity in 6 months, and he thinks there will be a lot of over-leveraged sellers then.

Also he suggested that I use the borrowing capacity for a commercial property instead of a residential property, where I can operate my business out of (nothing available at the moment), effectively what @The Y-man has mentioned.

A lot of the information has provided are exactly what the posters here have recommended. That's why I think this forum holds such wealth of information and advice, thanks again all, learnt so much from you all @Terry_w @Morgs @spludgey

 

Fantastic work mate and well done on creating a successful business.

I would keep it simple with real estate but buy with potential. Eg, I'd be wanting to buy assets I can rent out in good OO areas with potential to add value in the medium term.

I run a few businesses seperate to real estate and whenever I want to 'add another one' I just buy something with very good potential to add value one day and park it in my portfolio.

Then continue to focus on and build your business. That way you have your business growing, you RE assets growing with the ability to one day decide your gonna pluck X property from your portfolio and supercharge it buy adding that value. You'll find over time your wealth and CF will grow exponentially. You'll not only grow upwards in net worth but you'll grow deep with cashflow too.

Depending on your goals and how large you want to grow your business and wealth, I'd recommend you consider a good business coach at some point. Most people I know who grew very large businesses took on a coach when they wanted to take things to the next level.

 

Are you one?

@Sackie
Thanks so much, I feel like its just the start, but my advisor/accountant is pulling me back for some risk management, as he should. He has seen too many people grow quick and it all come undone. Grow some cash buffer first, not exciting but I will trust his words.

That is my exact plan, which I will focus on Sackie I don't have the grandeur of getting to the ASX or something, but its more of what's fun for me now. So my goal is to
1. Consolidate and build up my risk buffers
2. Acquire properties I can add value/ CIP where my current businesses can be operating out of
3. Have fun!

 

Am I one what?

Best of luck mate. You sound like you're on a good path

 

A business coach

 

Oh haha. Nah.

I'm not patient enough to coach.

 

Have you been coached before? I always wondered if they are all fluff or do they really work. How do you know who is a good business coach? I reckon a few posters here could be good business coaches if they get bored enough/want a change of work

 

Yes I've had a few coaches for over....10 years now. Do they work? All depends if YOU work. Coaches can't perform miracles if the mentee is defective

But a good coach matched with a solid entrepreneur willing to listen and put in the hard work...can make a huge difference in performance and ROI.

Most top entrepreneurs have coaches. Athletes have coaches. Anyone top in their field likey has or had coaching. And I know many young up and coming entrepreneurs seek coaches.

Like I said, they don't perform miracles for you, but can greatly guide you if you are receptive enough and willing to put in the hard yards.