Thanks Julian and Olly, the tenant seems to be sound. We're just checking out the building to make sure it's not part of the leaky building brigade. All the other ones in the block are rented out so it looks like it's a popular block. I realise that a valuation would give us all this info and we would get that done if we decide to proceed further. I just wondered if there is anywhere I could go now to find out what the other tenants are paying now to see how this one stacks up?
Announcement
Collapse
No announcement yet.
Empower Commercial Seminar
Collapse
X
-
Rents levels
Ask the tenants next door and up and down the whole street what the are paying, or as ask a valuer. Agents are unreliable.
Olly
Comment
-
Some agents might be unreliable. Others you can trust completely. My experience has been that if you can find agents who are also investors they are damned good. Valuers often ring agents to find out what places rented for - to help them assess a fair market level, as they themselves don't have a crystal ball. It is in everyone's interest to be honest and up front. Your gut instinct will help you discern the good agents from the bad. Tenants are often not keen to discuss the rent they are paying, and some might say they have a vested interest in telling you a lower figure in an attempt to help lower the overall benchmark for the area.
JulianGimme $20k. You will receive some well packaged generic advice that will put you on the road to riches beyond your wildest dreams ...yeah right!
Comment
-
Olly, having read your book last year we're taking your advice and selling the 28m2 Albany apartment. would you say the time was right for buying commercial now, or should we keep our hands in our pockets for a bit longer? My next question is apart from financing costs, what other expenses should we expect to cover from a near new building given that the tenants will be paying most of the outgoings?
Comment
-
where now
Louise5
I don't recall giving you personal advice to do anything. Unless I know all the facts of your situation I would hesitate to give any further advice. Any one who gives a diagnosis otherwise could have you end up in a lot of hot water. PM me if you want professional help.
Olly Newland
Commercial Property Consultant
Comment
-
Originally posted by OllyN View PostI don't recall giving you personal advice to do anything... Any one who gives a diagnosis otherwise could have you end up in a lot of hot water.
Back now to commercial and Louise.
xris
Comment
Comment