Let’s get off the commercial to residential gravy train for a minute

It’s been a hot minute since I last released a podcast, here we are on season 4! I see the trends come and go in the property industry. Flavour of the month is commercial to residential conversion… I’m skeptical that we should all be doing it. Here’s what I’m finding works instead (if you’re looking to buy commercial): Find something that’s got an alright value because it’s either vacant or part vacant. Get an estimated rental figure for the building Look at the demand for tenants in this area could you get 2-3 tenants interested in the building at your estimated rental figure? Yes you will have to do research here and phoning around!! Will the tenants you’ve approached take an agreement for lease so that you know you’ve got a tenant in your vacant space day one? Yes? great … work out the increase in value with the tenants in situ All being well and STRONG lease terms agreed, chances are you’ve made yourself some ££’s overnight! No resi development needed. You want more detail? You’re going to have to listen to this weeks podcast! SIGN UP TO THE WEBINAR HERE