How to get started with commercial conversions
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Show Notes
Right now is a good time to buy and develop commercial properties and there are great opportunities out there.
Shaz explains what commercial conversion is and shares great tips and content on what you need to do to get started and make a strategy that is one of his favourites work successfully for you.
KEY TAKEAWAYS
- Pubs, offices, shops and warehouses can all be redeveloped to create residential properties
- There are opportunities through online and auction sites
- There are permitted development rights so full planning is not required
- When you are looking at conversion of office buildings check there is the space for car parking
- Do an appraisal and workout the gross development value and the cost per square foot
- You can use lenders to fund either the purchase or the development
- If you are new and don’t have any experience it can be beneficial to joint venture your first few projects to build experience
- To get started you need to understand the funding, how commercial projects work, the opportunities, locations and what amenities are required.
- If you are new work with a builder who is experienced in commercial conversions
BEST MOMENTS
‘There are quite a few lenders who are open to this sort of funding’
‘Check everything out before you purchase the property’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on: