I had signed a contract to purchase a commercial property with 30 days due diligence. I had ordered valuation & building inspection to be done. What else should I do to evaluate the purchase ? I would appreciat e if anyone would shed a light on this topic . Thanks…
Help needed
Nickelben[worried]Originally posted by nickelben:I had signed a contract to purchase a commercial property with 30 days due diligence. I had ordered valuation & building inspection to be done. What else should I do to evaluate the purchase ? I would appreciat e if anyone would shed a light on this topic . Thanks…
Help needed
Nickelben[worried]I’d want to check the existing or potential rent against others in the area.
Is there a high vacancy rate for commercial properties?
What is the going rent per sq metre?
What’s the parking like?I’d pretend to be a potential tenant and go check out a few for rent:)
cheers
anihttp://www.tradeoff.com.au
the new card for investorsPerhaps the most important factor, after the actual position and type of commercial property you’re purchasing, is the current lease (if it has one) and its terms. If the property is vacant, then I’d be doing my homework (very quickly in your case!) with a commercial PM on who is likely to lease, for how long and for how much. A good long term lease is a terrific selling point down the track and a necessity for your cashflow.
Good luck!Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydneyhttp://www.invested.com.au Australia’s premier Investor Education site
Ani & Jucque
Good ideas ! I would check through all that lists and hopefully I wouldn’t miss out something important on my check list.
But trouble is , there is no other same type of property near by , and confused of how to compare the rent ? Because it is a freestanding building with big land and plenty of parkings , it stands alone by itself.[glum2]
Nickel
as name
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