Why Commercial ?

You need to ask them

 

Wonder why didn't you go for the HKD$500K carpark?

and BTW what do you think of this property?
Rare Chancery Food Retail Investment

 

The reason why was the new MTR was opening in three years and I thought there would be little demand for carparks

 

In my investing lifetime I suspect I have made more mistakes than most people
I often wonder how I have any income at all with the mistakes I have made

 

I suspect making quick decisions leads to mistakes

 

Only if not experienced, but well buying property overseas does require extensive research and study, else quick decisions do leads to mistakes.

 

I believe there is also a lot of pot luck in the purchases too!
The perfect investment is NOT the perfect investment in certain economic climates (e.g at the peak) just like the wrong investment is fine at the right time (e.g bottom of the market)

 

@Beano

Great post. Another question regarding commercial, and sorry if this question has been answered. Do CIP landlords normally use an agent for ongoing management of the property. With residential, it is common to do this with management fees 5-7%, but I was wondering whether this is different with CIP? Is it also common to use an agent to source tenants, but the agent’s role drops away at that point?

 

1. Yes, commercial agents are specialists in their field, need to know Retail Leases Act, deal with leasing solicitors, tenant reps etc.
2. Yes, the bigger the rent the lower the fees but you may also have other types of management fees eg facilities management
3. Yes, how are you going to source tenants & show the premises during work hours?

 

1: mainly agents for large properties
2: it all depends on the amount of work the agent has to put in to manage the property
so the fee for $50pw rental could well be more than a $1m pa rental
3: different agents ..one is a sales person the other is a administrator

 

Learning from any mistake builds experience
Risk V's reward also applies
Sure taking the safe option means less mistakes, but is there enough reward in it (in your lifetime) ?
Mistakes mean you have tried
Posting about it means you survived to bid another day

 

I have wondered many times if experience can be passed on (without the many mistakes ) but yet to find anyone (tried with my kids but no real interest)
Has anyone succeeded in passing on experience ?
Only three main things to do too !
1: starting early
2:buying right
3: not selling

 

I have real interest if you want to pass it on to me

Just show me no 2.
I am good at no 1 & 3

 

Sure I can but there is just two things you need to be aware of regarding item 2
1: You need to be patient with the buying
2: You need to patient with the growth and income
"Buy lessor's interest"

 

It took me 8yrs to save for my first property ..so assuming you start buying at say 16yrs old I would normally have suggested start at eight years old
HOWEVER I assume based on your name "I am number 5 " you are 5yrs old ...a great age to start especially since you have just finished kindy (kindergarten)

 

Can you areange a session to share your experiences? I am happy to fly to brisbane in order to pick your brains.

Not early . Bit impatient as well. But you need to keep the enthu up and same diligence for the time until you gather deposit.

 

My name has several meanings but not as per your assumption. I only wish

How do one source lessor’s interest commercial sites?

 

They are listed just like other properties by RE agents
I posted a service station on PC about a couple of months ago but have not followed up on what it sold for
Rent reviews are widely spaced
I purchased a super rented one two years from market review plus 12 years review....so all in all 14yrs to wait for a potential increase....so if you are 85yrs old you would be 99yrs old before your daily budget would potentially go up (if there happen to be a low in that year then you would be 111yrs old :-( ....)
Lessors interest in Z Energy site offers long-term income - Colliers International
The above one was one I missed out on!

 

How much was the the Z energy site sold for?

 

I looked online and it seems like it is still listed