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Thinking about investing in commercial property? When it comes to commercial property are you aware of the potential risks that come with illegal building changes and unapproved alterations? These hidden issues could quickly transform your dream investment into a financial nightmare.
In this episode of the Revolve Commercial Property Podcast, host Mish Daniel sits down with town planner Alex Steffan to discuss the due diligence steps every investor should take when purchasing property, particularly in community title schemes and strata title with body corporates.
This episode is perfect for you if:
đĄ You're considering purchasing a commercial property
đď¸ Your property is part of a body corporate or community title scheme
đ You want to learn critical due diligence steps before buying
Spending a small amount of time and money upfront on thorough due diligence can save you from expensive liabilities when purchasing commercial property.Â
Whether you're a seasoned investor or just starting out in commercial property, this episode will arm you with the critical knowledge you need to buy with confidence.
Key Takeaways:
Common illegal building changes that can devalue a property [02:18]
Why it's risky to assume existing use of common areas is approved [11:09]
How to audit a property's approval history vs the community title scheme [16:04]
Typical costs and timeframes to get retrospective council approvals [19:29]
Examples of unapproved changes councils may refuse to approve [21:33]
Red flags to investigate before purchasing a commercial property [34:19]
Â
#commercialproperty #duediligence #propertytownplanning #avoidpropertyrisks #stratatitle
SHOW CREATED BY REVOLVE COMMERCIAL PROPERTY PODCAST
HOSTED BY: Mish Daniel
Ph: +61 401 313 573
Website: â www.revolvecommercial.com.au â
Email: â [email protected] â
YouTube: â @mishdaniel-revolvecommercialâ
LinkedIn: â www.linkedin.com/in/michelline-daniel-commercialâ
Facebook: â www.facebook.com/revolvecommercialâ
Facebook Group: Revolve Commercial Group - â www.facebook.com/groups/revolvecommercialâ
Instagram: â @revolve.commercialâ
TikTok: â @revolvecommercialâ
Learn about the âRED FLAGSâ
Download your FREE Due Diligence Book!
Use code DD100Â to get it for free - â revolvecommercia.kartra.com/page/creâ
Start building your wealth on your next Property like a PRO!
Whatâs Included:
â Wealth Grow Plan - Generate your personalised, FREE 12-Month Wealth Growth Plan - in just 8 questions!
â Picks Every Month - Grow Your Own Portfolio With Our FREE VIP Investor Picâs of the month
â 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.
â Be constantly informed & up to date on all the latest commercial real estate trendsÂ
â 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.
â Case Studies - Explore successful projects, investment strategies, and market developments, all presented in an engaging and conversational style
Thinking about investing in commercial property? When it comes to commercial property are you aware of the potential risks that come with illegal building changes and unapproved alterations? These hidden issues could quickly transform your dream investment into a financial nightmare.
In this episode of the Revolve Commercial Property Podcast, host Mish Daniel sits down with town planner Alex Steffan to discuss the due diligence steps every investor should take when purchasing property, particularly in community title schemes and strata title with body corporates.
This episode is perfect for you if:
đĄ You're considering purchasing a commercial property
đď¸ Your property is part of a body corporate or community title scheme
đ You want to learn critical due diligence steps before buying
Spending a small amount of time and money upfront on thorough due diligence can save you from expensive liabilities when purchasing commercial property.Â
Whether you're a seasoned investor or just starting out in commercial property, this episode will arm you with the critical knowledge you need to buy with confidence.
Key Takeaways:
Common illegal building changes that can devalue a property [02:18]
Why it's risky to assume existing use of common areas is approved [11:09]
How to audit a property's approval history vs the community title scheme [16:04]
Typical costs and timeframes to get retrospective council approvals [19:29]
Examples of unapproved changes councils may refuse to approve [21:33]
Red flags to investigate before purchasing a commercial property [34:19]
Â
#commercialproperty #duediligence #propertytownplanning #avoidpropertyrisks #stratatitle
SHOW CREATED BY REVOLVE COMMERCIAL PROPERTY PODCAST
HOSTED BY: Mish Daniel
Ph: +61 401 313 573
Website: â www.revolvecommercial.com.au â
Email: â [email protected] â
YouTube: â @mishdaniel-revolvecommercialâ
LinkedIn: â www.linkedin.com/in/michelline-daniel-commercialâ
Facebook: â www.facebook.com/revolvecommercialâ
Facebook Group: Revolve Commercial Group - â www.facebook.com/groups/revolvecommercialâ
Instagram: â @revolve.commercialâ
TikTok: â @revolvecommercialâ
Learn about the âRED FLAGSâ
Download your FREE Due Diligence Book!
Use code DD100Â to get it for free - â revolvecommercia.kartra.com/page/creâ
Start building your wealth on your next Property like a PRO!
Whatâs Included:
â Wealth Grow Plan - Generate your personalised, FREE 12-Month Wealth Growth Plan - in just 8 questions!
â Picks Every Month - Grow Your Own Portfolio With Our FREE VIP Investor Picâs of the month
â 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.
â Be constantly informed & up to date on all the latest commercial real estate trendsÂ
â 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.
â Case Studies - Explore successful projects, investment strategies, and market developments, all presented in an engaging and conversational style
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