advice needed about commercial property.
I am about to start off investing in commercial property with a friend of mine and this is the first investment in property. My question what sort of properties should we be looking for and how do we go about commercial investing as opposed to residential investing.
What are the ins and out
all advice is appreciated[cap][cap]
Joel
The rules for commercial property are very, very different to the rules that govern residential property.
Yet in the last few years I have seen some investors buy commercial property using the same criteria they would use choosing a house and then they wonder what went wrong.
You can get a summary of the differences here:-
http://www.propertyupdate.com.au/articles/49/1/Residential-Or-Commercial—Which-is-right-for-you%3F
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.PropertyUpdate.com.auAs well as the differences in investing in commercial property you are adding complexity by investing with someone else. You need to make sure you have an agreement eg for term of venture, exit strategy, what happens if extra contributions are needed etc etc
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