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Done a couple of deals - very profitable as it happens but had to be cash

1. shop with rundown rear which i bought at auction and converted to 2 flats - now rented

2. 16 garages where i got planning for a small block of flats, cleared the site and then sold

I prefer commercial as its generally much less competitive and you can do more with it - just need a pile of cash to start as lending rates are ridiculous

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  • 4 weeks later...
On 12/14/2020 at 6:50 PM, nicholas_b said:

Hi,

I know this is a primarily residential site but I wondered if anyone had strayed in to commercial property and if anyone wanted to share their experiences with it?

Cheers

hi, 

I have purchased a commercial property, i found the process of buying similar to a residential although seemed to be a few more hoops to jump through to secure the funds although this just may of been my lender but they asked far more questions about finances and business plans etc. the other difference was that i needed to put down a bigger deposit. If you want to message me i can share the company i used to finance. The rental returns are certainly higher than a residential tenant. In summary my experience was Well worth it once i got through the stress of the application. 

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11 hours ago, daniel1 said:

hi, 

I have purchased a commercial property, i found the process of buying similar to a residential although seemed to be a few more hoops to jump through to secure the funds although this just may of been my lender but they asked far more questions about finances and business plans etc. the other difference was that i needed to put down a bigger deposit. If you want to message me i can share the company i used to finance. The rental returns are certainly higher than a residential tenant. In summary my experience was Well worth it once i got through the stress of the application. 

Could you ping me the details of the company please to darren@bpitrust.com 

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20 hours ago, daniel1 said:

hi, 

I have purchased a commercial property, i found the process of buying similar to a residential although seemed to be a few more hoops to jump through to secure the funds although this just may of been my lender but they asked far more questions about finances and business plans etc. the other difference was that i needed to put down a bigger deposit. If you want to message me i can share the company i used to finance. The rental returns are certainly higher than a residential tenant. In summary my experience was Well worth it once i got through the stress of the application. 

Hey Daniel,

Do you happen to have any sort of cost calculator that you used to validate whether the deal was a good one for you? I've got a brilliant one for residential but I'm trying to figure out what variables I need for commercial. 

Would be great to get your thoughts.

Many thanks,

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Hi 

i didn't have a cost calculator as such just worked out the numbers for this specific deal, it was a bit of a no brainer for me at the time as i managed to purchase for well under the asking price and had a established commercial business (ran by my wife) ready to move into the building .

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