Is it valid that I have to pay $100 to get someone use a plunger?

[Dazz]

i have to say dazz every post of yours i read inspires me into CIP

Cheers BMan,

Everyone has massive resistance at the start because it scares the pants off them, they know nothing about it, and have read in a book somewhere that it is risky.....and everyone bar none, remembers walking past some dingy little cobweb shop that has been vacant for years.

After a while though, the ones who start to look for the greener side of the paddock start having a sniff around. Up to you BMan.

......anyway, back to clearing drains and deciding who should pay the plumber....

 

[Aaron_C]

I agree BMan. Next step for me - going to build my own commercial property so I don't have to pay exorbitant prices and I have full control.

 

[jaycee]

Traitors........

 

[Rob Williams]

Everyone has massive resistance at the start because it scares the pants off them, they know nothing about it, and have read in a book somewhere that it is risky.....and everyone bar none, remembers walking past some dingy little cobweb shop that has been vacant for years.

You have hit the nail on the head. It's all perception.

Some people drive down the road and see a few "For Lease" signs and say "I'm glad that vacant commercial property isn't mine."

Others see all the successful businesses in between and say "I want to own one of those properties."

Nobody really knows how to be a resi property investor when they start out. But they take a leap of fatih and just go for it.

Going Commercial is just a bigger leap and a different learning curve.

 

[wylie]

Going Commercial is just a bigger leap and a different learning curve.

No to mention you need a LOT more money or equity than you need for residential... unless you want to buy someone else's headache.

 

[shaleejam]

We lived in an old house and the toilet would do the same. The first plumber came out, "fixed" it with a plunger and said our 9 year old daughter must have flushed something.

Thankfully we were not charged because 6 weeks later the same problem occurred and it became a regular problem until a second opinion was sought by another plumber - confirmed tree roots.

Shouldn't you get a second opinion before blaming the tenant? We are not all out to ruin your property and act irresponsible you know!

 

[jaycee]

No to mention you need a LOT more money or equity than you need for residential... unless you want to buy someone else's headache.

Doesn't change the facts though

I'm sure there are investors with small not expensive commercial/retail (non residential) property investors as happy with their experiences as we resi landlords are with our properties... I mean, we've read all about the headaches in resi property investing on the pages of this very forum

 

[wylie]

Doesn't change the facts though

I'm sure there are investors with small not expensive commercial/retail (non residential) property investors as happy with their experiences as we resi landlords are with our properties... I mean, we've read all about the headaches in resi property investing on the pages of this very forum

Absolutely right Jaycee. I suppose my views are very much based on the fact that we have had so few headaches over more than 30 years self-managing. Maybe we just pick good tenants. I certainly believe that because we self-manage and have always been able to meet the tenants and get a gut feelling for them, we have avoided the problems that do seem to be very common among those houses that are one of a stable of 100 looked after by one harried, overworked PM.

 

[jaycee]

Absolutely right Jaycee. I suppose my views are very much based on the fact that we have had so few headaches over more than 30 years self-managing. Maybe we just pick good tenants. I certainly believe that because we self-manage and have always been able to meet the tenants and get a gut feelling for them, we have avoided the problems that do seem to be very common among those houses that are one of a stable of 100 looked after by one harried, overworked PM.

I was also referring to the point you made abut needing a lot of money to not inherit other people's problems as being a bit of a perception issue also...

 

[wylie]

So do you think you could get a nice yielding, no problem, no fuss commercial property for somewhere around $400K?

I'd prefer to stick with what I know.

 

[jaycee]

So do you think you could get a nice yielding, no problem, no fuss commercial property for somewhere around $400K?

I'd prefer to stick with what I know.

This is what Dazz was referring, to I think, what we don't know scaring us more than possibly need be.

I'm not telling you to buy a commercial property !

Just seems that when we don't understand something we can dismiss it completely as a no go from the little we picked uyp (lik Dazz said.. walking past empty shops/haring fom others etc).

Being satisfied with the actual results of what you're doing and not being interested I think of as different, I'm not telling you you should buy a commercial property !

 

[Deltaberry]

i have to say dazz every post of yours i read inspires me into CIP
the only thing stopping me from going forward is lack of knowledge and funds
hopefully i can have the knowledge when i have the funds

Not sure how much funds you have, but doesn't necesarily need a lot.

We've just put an offer in yesterday for a relatively fringe CBD one (still in the CBD) but with two very long term tenants. Will probably get rejected but it certainly wasn't an overly exorbitant price. Everyone's investing experience is different and I shouldn't generalise, but we have typically stuck with CBDs because there's always demand with over half a million people travelling through the CBD per day, and even if it's a relatively fringe spot eventually the area will grow over time with population. Can't say the same about many suburban retail CIPs. Had a friend who bought a place thinking it'd be great yield, until his gym or whatever it was left because business was too tough and no one wants to rent it now.

 

[BMan]

need more deposit and borrowing power
wouldnt even be able to fund 500k @ lvr of 90