All Topics / Help Needed! / Commercial property advice

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  • Profile photo of dannadsdannads
    Member
    @dannads
    Join Date: 2003
    Post Count: 37
    December 9, 2004 - 5:43 am

    Hi everyone,

    I know nothing about Commercial Property and have found a day care centre for sale and would like to know if the figures adds up.

    Price is $1,250,000. Leased for 10 years with $100,000 a year Nett return (8%). All outgoings are covered (which I believe is pretty standard). What is the standard loan normally offered for Commercial Property? Are there any catches to keep an eye out for with commercial property?

    I ask because I did my maths using a standard 30 year investment loan and calculated there would be over $200 a week left over after repayments for a gauranteed 10 years with an interest only loan. Maybe I am way off track but you never know if you never ask.

    Any advice would be greatly appreciated.

    Cheers
    Dan

    Cheers
    Dannads

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    December 9, 2004 - 7:45 am

    Hi Dan,
    Commercial lending is usally around 70% LVR, higher rates apply,

    Regards
    Steven
    Mortgage Broker
    Mobile Mortgage Market

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of Chris100Chris100
    Participant
    @chris100
    Join Date: 2004
    Post Count: 22
    December 9, 2004 - 11:32 pm

    Hi Dan. Check the majors URL’s, and you will find similar to http://www.anz.com/australia/business/prdsrv/finance/home_equity.asp
    This is a good start for you.

    Chris Durman
    Commercial Capital Finance Pty Ltd
    B 07 3853 5221
    F 07 3853 5256
    M 0427809858
    C/- Brisbane Technology Park, 1 Clunies Ross Court, Eight Mile Plains, Queensland 4113
    ACN 110 082 347
    CAUTION – This message may contain privileged and confidential information intended only for the use of the addressee named above. Any views expressed in this message are those of the individual sender and may not necessarily reflect the views of the Commercial Capital Group.

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