Hi Dazzling,
Now that I’ve got your attention I wonder if you could tell us a bit more about your commercial deals.
For instance are you getting loans approved by new market rent at a higher LVR so you don’t have to fork out 70 or 80% deposits.
I ask this as on a million dollar prop deposit would be 200 to 350 plus closing costs.
By the sounds of it you look for run down properties with heaps of land content ,within a certain radius from the city, the more land the better .
You then go about cleaning the property up and advertise for a quality tenant on a strong lease and then go to the bank with the new valuation,thereby solving your solution to not coughing up a lot of money.
Is this correct or am I half there?
Anyone else with a comm prop have any comments.
Thanks for your time.Cheers
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