At Ray White Commercial Gold Coast, we regularly meet prospective buyers with serious reservations about investing in commercial property.
We get it, the phrase 'commercial property investing' alone can sound a bit intimidating. However, many worry unnecessarily due to common misconceptions about adding commercial spaces to their portfolio. Are you buying into any of these?
If a broker or real estate agent ever tells you there's no risk involved in buying a property, steer clear. While property tends to be a fairly stable investment, there is always a certain level of risk involved. With commercial property, that includes:
That said, with the right commercial property management services, many of these risks can be minimised or avoided altogether. A commercial property manager can help with rent collection, maintenance issues, negotiating leases, finding tenants and much more. Perhaps most importantly, they'll help you avoid any investment decisions that could impact your returns.
The majority of investors build an extensive residential portfolio before adding commercial spaces, but there's no rule this has to be the case.Your very first investment property can be a family home, an apartment unit, a retail store or even a warehouse – it's completely up to you!
You don't need to know every aspect of commercial investing to succeed. It's more important to understand the specific properties in your portfolio and how they make money. The rest will come in time.
Again, working with the right people is key. At Ray White Commercial Gold Coast, our experienced agents can help you identify winning commercial properties and teach you the intricacies of running them like a successful business.
One aspect of this 'myth' is factual: commercial property does typically require a larger initial investment.
On the Gold Coast, however, there are plenty of affordable commercial investments, including warehouse spaces and other non-residential assets with great access to the CBD. If you want to buy larger, more expensive spaces, you'll want to wait and save longer, but you can always get your start in something a bit more manageable.
To find out more about beginning your commercial portfolio, reach out to the team at Ray White Commercial Gold Coast today.