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Show Notes
This episode takes a look at joint ventures, flipping and commercial conversions and Shaz has great advice about both the advantages and challenges of these different property strategies
Shaz’s favourite property strategy is commercial to residential but each of these strategies has something to offer the property developer and ultimately its always about making sure the numbers work, listen in and find out more
KEY TAKEAWAYS
- Converting a commercial building can be the ground floor staying as commercial and the upper floors being converted to residential or conversion of all the building
- Make sure the numbers work, commercial conversions should be at least 20% profit
- It’s a hands-on strategy and you need a good team to make it work well
- Flipping is buying a property usually below market value and doing some work to it before you sell it for a profit
- The value will increase because of the refurbishment you complete
- Flipping is easy to get into, requires less expertise and it’s a good strategy for cashflow
- You have to buy at the right price and have worked through the numbers
- Property joint ventures are about people working together to make some profit
- You need to be very clear about roles and responsibilities
- A joint venture partnership maybe someone with the expertise and someone with the finance
- The key is good communication and understanding the costs and responsibilities of everyone involved
BEST MOMENTS
‘There are lots of commercial properties for conversion out there at the moment’
‘It should be at least a 20% profit margin, if not, don’t do it’
‘You can get some really good deals, especially if you are good at negotiating’
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 consultations 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: