May 27, 2024

Take the Leap into Commercial Property and Overcome the Fear Factor Part 4 with Andrew Gemmell

33 minutes

In this episode of the Revolve Commercial Property Podcast, host Mish Daniel sits down with Andrew Gemmell to discuss the valuable lessons he learned during his commercial property acquisition journey in Townsville.

The episode dives deep into the nitty-gritty details and due diligence required when purchasing an industrial property, providing a comprehensive playbook for aspiring commercial investors.

Whether you're a seasoned investor or just starting to explore commercial property opportunities, this episode will equip you with practical knowledge and strategies to make informed decisions and mitigate risks throughout the acquisition process.

This episode is tailored for you if:

🏢 You're considering purchasing a commercial property for investment purposes.

💰 You want to understand the intricate process of negotiations, due diligence, and risk management.

📝 You're keen to learn from someone's first-hand experience and the lessons they gleaned along the way.

This episode provides a comprehensive and candid account of Andrew's commercial property acquisition journey, offering invaluable insights and lessons for those considering similar investments. From risk management to negotiation tactics and due diligence best practices, this episode is a must-listen for anyone looking to navigate the complexities of the commercial real estate market.

WHAT YOU'LL DISCOVER IN THIS EPISODE:

Andrew reflects on the most significant lessons he learned throughout the acquisition process, emphasizing the importance of thorough due diligence and collaboration with a strong team (38:07)

Mish and Andrew discuss the art of negotiation, highlighting the value of finding common ground, understanding each party's priorities, and maintaining open communication (39:11)

Andrew shares his approach to risk management, particularly the decision to secure comprehensive insurance coverage before going unconditional, ensuring protection against potential liabilities (48:41)

The duo delves into the critical steps and legal processes involved between going unconditional and settlement, underscoring the importance of crossing every 't' and dotting every 'i' (51:25)

Andrew describes the exhilarating feeling of receiving the call confirming settlement, likening it to the joy of giving birth or falling in love (55:57)

Andrew affirms the financial success of the acquisition, with the property generating a substantial $70,000 net positive cash flow, even after accounting for the peak interest rates (1:04:44)

SHOW CREATED BY REVOLVE COMMERCIAL PROPERTY PODCAST

HOSTED BY: Mish Daniel

Ph: +61 401 313 573

Website: ⁠www.revolvecommercial.com.au ⁠

Email: ⁠[email protected] ⁠

YouTube: ⁠@mishdaniel-revolvecommercial⁠

LinkedIn: ⁠www.linkedin.com/in/michelline-daniel-commercial⁠

Facebook: ⁠www.facebook.com/revolvecommercial⁠

Facebook Group: Revolve Commercial Group - ⁠www.facebook.com/groups/revolvecommercial⁠

Instagram: ⁠@revolve.commercial⁠

TikTok: ⁠@revolvecommercial⁠

Learn about the ‘RED FLAGS’

Download your FREE Due Diligence Book!

Use code DD100 to get it for free - ⁠revolvecommercia.kartra.com/page/cre⁠

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What’s Included:

★ Wealth Grow Plan - Generate your personalised, FREE 12-Month Wealth Growth Plan - in just 8 questions!

★ Picks Every Month - Grow Your Own Portfolio With Our FREE VIP Investor Pic’s of the month

★ Due Diligence Checklist - This guide will teach you how to avoid the pitfalls and traps of your commercial property purchase including: buying a dud, legals in disorder & losing thousands.

★ Be constantly informed & up to date on all the latest commercial real estate trends

★ Blogs - Dive into the latest industry trends, property insights, investment opportunities, and market analyses, all delivered with a conversational and engaging style and stay informed.

★ Case Studies - Explore successful projects, investment strategies, and market developments, all presented in an engaging and conversational style

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By Property Investing Australia