Ok so we're as new as one can be in Commercial...haven't even bought commercial ever before so looking for some guidance from all those who have had successful ventures in Commercial.
We've been doing resi developments for a few years now and its come to the point where its very hard to make the margins we would deem acceptable..so time to look outside the resi box and possibly into commercial.
I don't know if this is a really stupid question and it may be blatantly obvious but i'll ask anyway.....What is the most effective strategy to make a good decent profit with commercial sites??? Our goal right now is to make money so ending up with a commercial property which we can lease out is not what we're after....
So which way to go?:
- to buy a vacant site, build a commercial property then sell? (similar to what we do in resi? does it work the same way?
-to buy something established, renovate and then sell?
-????
Probably can make profit doing either but i'm after some advice from those who have found 1 strategy to be more successful than the other (doesnt have to be out of the 2 i've listed above..can be any strategy).
Any advice, guidance etc would be very much appreciated as i really have no idea where to start!
Thanks in advance!
Kim
We've been doing resi developments for a few years now and its come to the point where its very hard to make the margins we would deem acceptable..so time to look outside the resi box and possibly into commercial.
I don't know if this is a really stupid question and it may be blatantly obvious but i'll ask anyway.....What is the most effective strategy to make a good decent profit with commercial sites??? Our goal right now is to make money so ending up with a commercial property which we can lease out is not what we're after....
So which way to go?:
- to buy a vacant site, build a commercial property then sell? (similar to what we do in resi? does it work the same way?
-to buy something established, renovate and then sell?
-????
Probably can make profit doing either but i'm after some advice from those who have found 1 strategy to be more successful than the other (doesnt have to be out of the 2 i've listed above..can be any strategy).
Any advice, guidance etc would be very much appreciated as i really have no idea where to start!
Thanks in advance!
Kim