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Can Someone Teach me the Basics of Commercial Property?
Oh I'm sorry, thought we were talking about all these vendor financed properties?
Still no examples of that in EITHER residential or commercial?
Thought I had one, thought you might have liked it.
But of course it turned out to be VENDORWARE again.
Vendor financing is done many times in the commercial sector and in today's market. You won't find it handed to you on a plate because, surprise surprise, people prefer cash as their first option without laying all their cards out on the table.
Vendor financing is done many times in the commercial sector and in today's market. You won't find it handed to you on a plate because, surprise surprise, people prefer cash as their first option without laying all their cards out on the table.
And we're right back where we started.
You say it's done many times.
I say "How?" and "Where?" and you trot out the old "It won't be handed to you on a plate" thing again.
Yep, there's 10% net yields out there at the moment. Central Auckland pristine commercial/industrial units with international tenants on 8 year leases. You can't find them? Oh I see heaps, but you know, they won't just be handed to you on a plate, you have to get out and look.
Not the literally hundreds of deals you've done obviously. You must be up to what, 800 purchases by now? 600 with vendor finance or higher?
No after 2 years or so the vendor finance is usually then converted to bank finance.
I see now where your thinking is wrong. The original post was how to finance to buy commercial property. I only buy good quality with ADD VALUE. By the time the value has been added then refinance with bank.
This is what I was implying when I said your net worth will grow very quickly.
It's also what I meant when I asked what would you do with say $300k.
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