Commercial buyer's agent?

[Phiber]

Hi guys,

Commercial property has been something on my mind or a while now.
While I haven't looked in details at any deals for a few months, I have the itch again. I am involved in residential property but have not dipped by toes into commercial. I believe I am reasonably competent when it comes to selecting residential properties, but commercial is quite a different game, especially when it comes to getting the lease right.

It got me thinking: maybe it would be worth getting "advice" from a commercial buyers agent, as a bit of a learning experience in how to spot and select deals, identify potential for the first property.

Would you guys happen to know any reputable agent in Sydney?

Cheers

 

[pinkboy]

CJay and I were talking about this very situation the other night in the chatroom.

I would also be very interested in ideas this thread presents.

pinkboy

 

[DaveM]

Scott No Mates is a commercial agent, not sure if he does BA services but he would be my starting point for either a service or a referral for commercial servicses. He gave me tonnes of advice for a recent commercial lease deal adn knows his stuff.

 

[geoffw]

Scott no mates has been mentioned in this capacity in another thread.

 

[china]

Scott no mates definitely gives good advice and knows stuff about commercial. Interesting that there is such paucity of commercial BAs as opposed to the glut of resi BAs. Maybe this is a niche I can do once retired from my active work.

 

[D.T.]

Scott no mates definitely gives good advice and knows stuff about commercial. Interesting that there is such paucity of commercial BAs as opposed to the glut of resi BAs. Maybe this is a niche I can do once retired from my active work.

And help others make purchase decisions?

 

[china]

And help others make purchase decisions?

I find his opinions and insights very useful. e.g. when conducting due diligence on a shopping centre, he gave me ideas on what to look out for that I as a total novice, would never have thought of.

 

[Blacky]

^^^missing the point (again)

 

[china]

So yes, he does contribute towards making a buying decision.

 

[geoffw]

^^^missing the point (again)

Just well deflected.

 

[Phiber]

Thanks for the feedback guys.
Yeah I read Scott no mates' name mentioned earlier - interesting there are so little of these guys out there.
Just makes it a bit harder to get into the market, higher barrier to entry.

A google search has provided a couple of results but nothing very promising. :/

 

[mrmonopoly]

Scott no mates definitely gives good advice and knows stuff about commercial. Interesting that there is such paucity of commercial BAs as opposed to the glut of resi BAs. Maybe this is a niche I can do once retired from my active work.

Very different game. There are plenty of tenant advocates if you look hard enough and many of these will cross over in into CP BA.

As for a glut of resi BA's. I respectfully disagree. Resi BA in Aus' is still very much a fledgling industry,

 

[Scott No Mates]

Very different game. There are plenty of tenant advocates if you look hard enough and many of these will cross over in into CP BA.

There are fewer on the ground than you'd think. Outside of retailer, very few use their services or if they do it is generally larger companies which have made their inhouse property people redundant so seek the services of the major players (ie corporate agencies which do some of this specialised work).

 

[Nigel Kibel]

Commercial deals in the United States

There are great opportunities in the States at present for commercial property. From my research you can buy a commercial property and get a 60% non recourse loan for around 5%. This means that the loan is based on the asset only. Now commercial property can be office shopping centers or also apartment buildings here there are more than 5 in the block.

 

[Phiber]

A purchase in the US is a whole different ball game. For most here, CP is already pretty new, so that combined with the lack of knowledge & control the US brings, makes for a lot of uncertainty IMO.