Folks, if you’ve sussed out the title, you’ll know that today we’re visiting a space we don’t normally explore — and that’s investing in COMMERCIAL property!
If you’re a regular listener, you’ve definitely cottoned on to the fact that we obviously have an agenda towards residential investing (we figure everyone needs somewhere to live)… BUT our bias doesn’t necessarily mean that you can’t reach success by other means of investing.
And walking proof of this is Scott O’Neill, Founder and Director of Rethink Investing who is an experienced and active investor who was able to RETIRE FROM HIS DAY JOB AT 28! Yep, VERY impressive. And he did it by investing in both residential property AND commercial property — mostly including well-selected unit blocks and small business that’ll likely be around for years to come.
With a portfolio of 28 properties (yep, the same number as the age he threw in the towel as an engineer), Scott’s passion and commitment has paid off in spades — he and his wife were able to take a 6 month sabbatical from working life and do nothing but travel Europe until, as it so happened, they grew bored of it and decided to teach others how to reach the same success instead!
So today we’re traversing Scott’s journey from residential to commercial property and picking up some pebbles of gold for you along the way:-)
Before we kick off what you’ll learn, here’s the bonus resources we mentioned in today’s show:
- FREE BOOK COMPETITION: If you want a chance to win Denise’s book, Get Rich Lucky Bitch, Tell us Your #1 Money Block HERE. Haven’t watched her episode yet? Click here to Listen to Episode 229
- MONDAY’S “MONTLY PROPERTY WRAP” with Nerida Conisbee: If you want the most recent market update, including the most “clicked on” property listings and the most expensive property on the market, Watch the Facebook Live HERE
- PICA’S WEBINAR on Negative Gearing – PICA is holding a Webinar on Thursday 9th May at 7:00PM including a Market Update from Tim Lawless, Director of Research at CoreLogic as well as a deep dive into Negative Gearing and Labor’s policy. To watch, you need to be a PICA Member (or become a member for $5) — If you want to watch, you can find out more about the PICA webinar HERE.
And here’s what you’ll learn:
SPECIFIC TO COMMERCIAL INVESTING…
- When did he make the switch to commercial real estate?
- How are commercial and residential investing different?
- What do you look at to get a good tenant?
- What’s positive about investing in commercial property?
- Can you still get capital growth?
- What’s the typical price point to get into commercial investing?
- What are the current LVRs on commercial real estate?
- What yield does he aim to get?
- How long can it take you to pay off a commercial property?
- What are the fees to get advice in this area?
- What commercial properties DOESN’T he like investing in?
- What size commercial properties can start to see more vacancy rates?
- What happens if digital business keep increasing?
THE WHOLE STORY…
- What started Neil’s interest in investing?
- How old was he when he bought his first property?
- Were there many property investment mistakes along the way?
- How could he sustain this many properties from a cash flow perspective?
- THE BIGGIE… Would Scott have been able to achieve all this in the current environment?
- How do Strata-titled properties work?
- What was fueling his confidence?
- How did he get funding to invest in so many unit blocks?
- How much do these sub-divisions normally cost?
- Where did he invest?
- Why was it crucial he remained a Rentvestor for so long?
- Did he have to sell any of his properties to buy his family home?
- What did he learn about when to get preapproval on his PPOR?
P.s. Don’t forget to join our Book Giveaway below!