Commercial property books/info

[dheath]

Hi,

I have 5 residential properties at the moment, most are negatively geared, I would like to help increase the cashflow back into our suffering accounts a little more and am not totally comfortable buying positively geared rural property with little growth.

I am interested in learning a little more about commercial property, what to look for, the pitfalls etc. can anyone recommend to me any good books on the subject?

Regards,

Duane.

Ps. Does anyone think that the latest equity market hiccup is going to be good for R/E ??????

 

[The Y-man]

Tried the commercial prop forum?

http://www.somersoft.com/forums/forumdisplay.php?f=66

Cheers,

The Y-man

 

[AmandaBS]

This book should get you started:

"How Investing in Commercial Property Really Works"
By Martin Roth & Chris Lang
Publisher Wrightbooks,2005


Now wasn't "Dazzling" going to write a book also ?

 

[Dazz]

Now wasn't "Dazzling" going to write a book also ?

Yeah - that was on the cards, but after chasing that option reasonably hard, I decided to copy the grumpy old buggers who wouldn't say peep to me when I started, and just "stick to my knitting".

I'm in the middle of negotiations for acquiring a large comm. building at the moment, one that should look after the family for decades to come and allow me more freedom. I'm finding there is far more mileage in doing that, than writing a book and maybe getting 8 or 10% of the cover price, with every other hanger on - publishers / editors / promoters / newsagents....skimming off the majority of the rrp.

 

[AmandaBS]

Go Dazzling, sounds a very exciting deal....tell us more.

If you won't write a book maybe I can encourage you to submit a story for our new story competition? http://www.propertydivas.com.au/

Best wishes,

 

[Dazz]

Go Dazzling, sounds a very exciting deal....tell us more.

Nah....the ink has not been applied nor dry yet. I've learnt not to shoot my big mouth off about property details until it's all wrapped up tighter than a drum. We've had a crack at 4 properties over the past 8 months, and been trumped every time by "players"....including large foreign owned companies coming in over the top and plonking down unconditional cash offers.

What I can say now is the property is worth the equivalent of our entire portfolio, yet rents for double what we collect at the moment. So if it goes through, our portfolio will double and our rents will triple. A nice kick along to this much vaunted L.O.E. shenanigans that I might try one day...

I imagine every swinging cat and his dog will also be chasing it who can stump up the finance....so all we can do is have a crack and see how we go.

I'll post some details once it's in the bag.....after all, that's how most people learn I reckon, from seeing real life practical examples - not this wishy washy theory of lists and tables.

 

[AmandaBS]

Hi Dazzling,

You certainly do have a way with words. Thank you for sharing your thoughts and adventures with us, and I certainly understand why you want to keep the deal close to your chest. Retirement obviously suits you!!