When you think about property investing, a lot of people immediately think of residential property.
But there are also opportunities to generate wealth from commercial property investment, so long as you understand the key differences between commercial and residential investment markets.
While many investors understand residential property because they may have bought and sold homes themselves, commercial property is more complex. The factors that drive the success are different and the things to consider when choosing your purchase are different.
And before you start, you need to get a few things in order:
- Pre-determine a budget
- Consult with your finance broker
- Check with your accountant if you need to register for GST
- Decide what entity you will hold the property in
Property Wizards director Liz Sterzel shares her tips for achieving success in commercial investing – for those crossing over from residential or those just starting out: (more…)