EPISODE 1: Residential versus Commercial Property - Property Inc

[ Podcast Transcription ]

This is the Commercial Property Investing Explained Series. A free 10 part course brought to you by Steve Polisi. Find out how commercial property really works and start investing like the pros. Your education starts now.

Welcome to the Commercial Property Investing Explained Series with Steve Polisi. I’m your host, Andrew Bean, and I’m here with author of commercial property explained simply, and founder of buyers agency, Polisi property, Steve Polisi. How are you mate? Thanks Andrew. I’m really well, I’m really looking forward to doing this podcast with you.

Yeah, it should be good, mate. So let’s get straight into it. Why are we making this podcast and what are the listeners going to gain from it? All right. So similar to why I wrote my book, there’s just a lack of concise, like all inclusive information out there. So I’d figure I’d do a nice little 10 series podcast as a good starting point for the investors.

So it’s all in the one spot. There’s no waffle like all the other podcasts talking about like the economy and football matches. It’s going to be pretty hardcore and boring, but it’ll go through. All the points that you need to get started in commercial as a good kind of landing point. And then you can explore more so you can go on to like your podcast and read other books and things like that.

Look, it won’t be boring, Steve. Let’s just strike that from the right away. As I tell my clients, Andrew, the boring properties are generally the best performers. Yeah, yeah, yeah. So Steve, can you share a little bit about your background and experience in commercial property? I’ll start from the beginning.

So I was generally a pretty big nerd at high school. So I got 99. 9 and fifth in the state in foreign mathematics. And then I’d moved into engineering thinking that if you’re smart and you work hard, you’ll have financial freedom because your boss will pay you really well, but. I learned pretty quickly that that wasn’t the case.

It was actually normally the opposite. And then just, I saw a few young guys buying properties kind of, and then accumulating large portfolios. And this was in the residential space. And I bought my first one in Western Sydney for, I think it was 230 grand. And it went up about a hundred thousand dollars in the first year.

And that was literally more than my salary at the time. I’m just like, how have I done this from signing a piece of paper and then became an addict. I think I got up to about eight residential properties and then decided I’m going to get out of engineering and do this property thing full time. And then I became a buyer’s agent in the residential space.

So I did that for a few years and I had about 500 acquisitions under my belt. And then just had a client who was really pushing me to buy him a commercial. And I kind of pushed back and start thinking like everyone else like, Oh, there’s high risk is just kind of, it’s only for the elite people to do it.

And then when I actually started looking at the numbers, I actually couldn’t believe I thought I was stuffing something up. I’m like, there’s no way this is that attractive for cashflow from day dot. And that was the start of it. Now I’m about 300 commercial property acquisitions later. Awesome, mate. Well done.

So mate, why should the listener consider commercial property for themselves? All right. So the first thing you need to consider when you’re building a portfolio is like, why are you doing it? Like you need to set the goals that are kind of going to make you happy. So basically assess your short term, your medium term, long term goals.

I speak to a lot of clients and do property plans for people and you just need to assess what makes you happy. Like some people get happy from buying a new fishing reel. Some from leaving the job that they hate. Other ones want to buy their 250, 000 sports car. So everyone’s compass is different. So you just got to assess what makes you happy because If you try to shoot for the stars and that’s not going to make you happy anyway, you’re just going to take on unnecessary risk and probably do a job you don’t like to get there.

So be realistic in your goals. To answer your question, why commercial though? Just the returns, just smash residential property or so over this podcast series, we’ll, we’ll have a look at the numbers and go through it, but the cashflow, you get an instant passive income from DayDot. Yeah. And it also makes a huge difference where you are in your investing journey as well, what you’re acquiring and basically how much you can borrow depending on, you know, where you are.

So it’s definitely a really, really nice piece to, for cashflow and, and also the capital growth can be amazing if you do it right. Yeah, exactly right. Learning about how commercial property really works has never been easier. with so many great resources around like this podcast and Steve’s book. And he’s giving it away for free if you use discount code PODCAST on his website.

So go to www. policeyproperty.

com, use discount code PODCAST. To get the book free. All you have to pay for is shipping. What a great deal. All right, mate. So let’s jump into the first topic right away. What’s the difference between residential versus commercial? Okay. So the first thing we’ll cover is what is a commercial property? So a commercial property are buildings and land that are intended for profit generating activities rather than a typical residential purpose.

So when you invest in residential, most people are buying that for capital growth. Some people argue cashflow, but they’re talking kind of a few thousand dollars a year, passive income. And then other ones are talking about negative gearing to save on tax. Whereas with commercial, it is much, much higher cashflow generally just because the yields are higher.

But then in addition to that, the tenants typically cover the outgoings. So they actually pay your maintenance costs, your renovations in your property, water rates, council rates, insurances, things like that. Even some leases will actually stipulate the tenant pays you land tax, which is just ridiculous.

Where, so for residential, you’d literally sitting there hoping that the property grows in value. But with commercial, you can actually get a really good return without any capital growth. And so Steve, in your actual book, we’ve got a really cool little table here. Can you kind of run us through that? I know it’s going to be hard on a podcast, but we might put that in a link in the show notes as well if people can want to check that out.

But do you want to try and run us through this table as well? That’s a good idea. So basically the table compares different things from residential to commercial and basically the items such as like the deposit you need, the yield that the property generates, the capital growth prospects, the vacancy rates on the property, the different types of loans and interest rates on the loans, and the depreciation.

So we can go through them one at a time if you like. Yeah, let’s do it. Alright, so the first one is going to be the amount of deposit required. So this is generally the perceived kind of disadvantage of commercial because people say that you need a larger deposit, which is true. You’ll, you’ll generally get a loan to value ratio of LVR of 60 to 80%.

So that’s generally the max. You rarely hear of anyone getting higher than 80 percent LVR. Whereas with residential, you can get 80, 90, sometimes even 95 percent in this market. So you generally put in a bit more skin in the game to get the deal done. However, you also need to consider that with commercial that you can actually buy quite cheap commercials.

Like it’s not unheard of to buy like a warehouse. I bought a warehouse on the sunshine coast a few weeks ago for 180, 000. So you need to balance that as well. And because of the high cashflow, you can actually make up that 10 percent difference in deposit in a couple of years, just from getting that back on the cashflow.

So what about due diligence, mate? All right. So commercial is a lot more complicated than residential. There’s way more moving parts with residential. As long as you buy in a good suburb and you buy a solid house, you’re generally going to be okay long term. But with commercial, if you buy a bad commercial, you can burn yourself financially.

And it’s just because there’s so many more moving parts. Like you need to look at the tenant, the location, foot traffic, road traffic, the lease terms, the development potential, the different types of asset classes changes as well. So. Much more complicated, but if you get it right, the rewards are there.

Yeah, I kind of think about being a commercial property investor, like being an investigator. There’s so many different things that you need to check. It’s like you just don’t know what you don’t know unless you have someone like yourself working for you or you just studied or basically, you know, listen to this podcast or read your book.

So it’s like being a private investigator. Yeah, exactly. And you got to have a business mind about you as well, because you need to forecast how well the business is going to do long term. How they’re actually operating now, so sometimes, or most of the time, you actually look at things like P& L statements, rental ledges, so there’s a bit more to it.

Yeah, definitely. What else do the listeners need to know about commercial property right now? Alright, so mainly with the yields, commercial’s obviously much, much higher. So, residential yields, they’re typically between 3 6 percent gross at the moment, whereas commercial, you can get 5 8 percent net. So just be mindful of those words I just used.

So residential is gross and that’s because you have to, as the owner, have to pay the outgoings. You pay the council rates, the water rates, insurances and things like that. Whereas when I say 5 8 percent net, that’s actually in your pocket because the tenant pays those outgoings. So that results in a much higher cash flow compared to residential.

And so mate, you just touched on there, which is probably one of the most important parts of commercial property is who pays the outgoings. Can you just elaborate on that again? So this is what people don’t realize with commercial. So the actual tenant that you have covers all the outgoings. So they will pay you the rent, but then basically all the bills get sent to them.

So maintenance of the building, the council rates, water rates, sometimes insurances. Quite often property management and land tax and things like that. And it’s because they’re operating a business out of that location. So they’re responsible for it. They want to keep the upkeep, the look of the premises, because that’s how they make their money.

It’s not, not like residential where it’s just a place to sleep. And they say the landlord is a kind of rich investor. They need you as much as you need them. And I think that this is one of the pieces that gets left out when people are assessing a residential property compared to a commercial property.

They’ll do all the cashflow. But they won’t really put in correct outgoings in their actual cash flow calculator. And they look like residential is actually quite similar. But realistically, when you take out the outgoings that you, the owner of the property, are going to have to pay, it’s so much lower.

It’s ridiculous. Yeah, it’s sometimes like three to four times less. Yeah. In commercial in terms of cash flow, but it sounds like it’s comparable because they’re getting a 5 percent yield. You’re getting a 5 percent yield, but three to four times less is quite a lot. All right, mate. So let’s shift gears here and talk about cash flow compared to capital growth.

How does that compare in commercial property to residential? This is a really big misconception. I’ve had this conversation almost every single day and that is the commercial properties don’t grow. So that is actually a complete myth. If you go back over the last 30 years, it’s pretty much had the same capital growth as residential.

It just happens in different cycles most of the time. And it has to remain comparable though, because you don’t have a million dollar residential property that jumps to 2 million and then the 500, 000 warehouse sitting next to it, stay at 500, 000. Because then every person living in that 2 million house is going to look at that going, well, that’s getting more rent than what I’m getting.

Why would I buy another 2 million house? So they normally just happen slightly out of sync. But then another point to point out is. You can’t just encapsulate all commercial under the same banner for capital growth a high density office space is gonna grow completely different to a Warehouse, which is going to grow completely different to a retail shop because they’re all got different nuances different land components different demands So they all typically have different kind of growth cycles and capital growth But on average you’ll see five to six percent over the last thirty years, which is basically the same as residential And what are the key drivers, Steve?

Why does a commercial property grow? How do people force capital growth onto a commercial property? So most of the time it’s got to do with the economy. Because people always tell me that, oh no, residential is safe because people always need a roof over their heads. And I’ll always just cheekily respond with, where do you think the roof came from?

And like, every item in your life that you touch has been through 10 to 15 warehouses before it even gets to you. So just things like manufacturing, servicing, spray painters, wholesalers, distributors, storage and things like that. You need all of those in the economy. And then same as retail, like shopping centers will act slightly different to like the local community shops and then office space, same thing.

The, but Mala infrastructure going in, in the area will demand how many kind of office spaces and you need. So there’s so much more moving parts with it and you need to assess each commercial on its own merits. And also one of the best ways to add value to commercial property, Steve, as we both know, is adding net income to the property.

Literally 1 of any kind of income on that property can equate to 1, 000 of actual value at the end. And we’re going to probably dive into that. a little bit later further on in the podcast, how that actually works with capitalization rates as well. I don’t want to get people too confused right now, but basically if you can add income to the property, then that equates to adding value.

So it’s a very, very cool way to look at it. And that’s in my mind, the power of commercial property right there. So let’s just move on to our next piece, which was the least stability and vacancy rates. This is the real elephant in the room, Steve. One of the biggest misconceptions about commercial property is the vacancy, the large vacancy and the lease stability, not being able to find tenants.

Yeah, that’s right. And that’s people’s most concern is having a property that’s going to sit there vacant for a long period of time. And that does happen if you buy the wrong property, but that is similar to residential. If you go out and buy in a mining town and the mine closes down, you will have a vacant property for a very long time.

So a lot of the times someone will just hear of a horror story from one family friend, or they see a vacant shop near where they live and it’s been vacant for a few years. So they tarnish all commercials with that story. I can give you plenty of horror stories of residential as well, but that’s why it comes down to doing due diligence as well.

Different certain types of asset classes are going to have different vacancy rates. So like industrial at the moment, vacancy rates are very tight. Most capital cities are between about 1. And then it’s also going to come into play what actual type of say industrial property you’re buying like smaller warehouses will have a different vacancy right to the larger ones, whereas like the small ones, you’ll generally cycle through a tenant more regularly because small businesses go one or two ways they either outgrow the space and move on.

Or they close up shop because they’re not making money, but they’re quite in demand. There’s a lot of sole traders looking for warehouse space at the moment. So in good areas, you can fill them in two or three months, whereas something like a larger warehouse, you’ll have that tenant for longer. You might have them for 10, 15, 20 years, but when they leave, you’ll probably have like 12 to 24 months vacancy.

So it’s just that balance for the different types. Suburban retail at the moment has really tight vacancy rates compared to say, the Westfield shopping center type ones in the CBDs and things like that. Office space, as we all know, is hit pretty hard with COVID and people not going into CBDs and things like that.

But I personally have not bought that much kind of office space in the CBD for clients. I just see it as kind of comparable with high density residential, like you’re too prone to oversupply and things like that. So it’s just coming down, like I said before, case by case basis and looking at what you’re buying, where you’re buying.

But you’ll generally have the tenant for a much longer time as well. Like a residential property, you might cycle through a tenant every couple of years, and it’ll be say two weeks vacancy in a mediocre area. And then over 10 years time, that’s actually not that much different to having a vacancy period of three to six months for a commercial.

It’s the same net result. You just feel it more with the commercial during that period. What you’re neglecting is you’ve actually probably had 10 years worth of really, really good cash flow and then you cry poor at the end of the 10 years saying, I’ve got six months vacancy, but your net position is still very, very much in front.

Yeah, what people don’t realize is that when the property goes vacant, it gives you a time to actually clean that property up, make it a better offering for the next tenant. And then you can actually increase the rate per square meter that you’re charging the tenant, which then in turn increases the value of the property.

So vacancy actually is. Good sometimes to increase the value of the property. Yeah. And that’s, that’s part of the skill of buying as well. You buy for that versatility and value add much like residential. People will do that where they buy a slightly bigger block so they can add a granny flat or potentially do like a duplex subdivision down the future.

So you can do all that type of thing with commercial as well. So Steve, I wanted to also touch on like a situation why commercial tenants are a little bit more sticky than a residential tenant. So in the sense, like say you had a retail shop that had a beautician in it, if she was actually running that business, all her clientele is in what, like a 10 K radius.

So those type of tenants or that type of business doesn’t really want to pick up a move every 12 months. They actually want to build an established customer base in that area and really, really make it a thriving business. That has a lot of word of mouth. It doesn’t actually make sense from a business point of view to keep uprooting your business like some businesses do, like a storage kind of business where it doesn’t really rely on customers walking in.

But if you’re looking at like a retail or a service, or we call it a destination retail, it doesn’t make sense for commercial property businesses to keep on moving. Not even that is for retail, especially they’ve done quite a fit out as well. Like that beautician it’s probably installed sinks and tiling and things like that.

It’s not like residential where you just pack up, you pay your moving day and you can go to another property. They are basically locked into that location for the life of that business. Because like you said, they’re servicing that area. They can’t go anywhere else. Like. At worst case, they might try to upsize, but what you find with most so small scale retail, they don’t move into a larger premise.

They actually just open another premise. So they’ll move to the adjoining suburb and open one there and try to grow that. So they’re, they’re much stickier. You’ll retail tenants, you’ll generally have 10 to 20 years at a time. I hope you’re enjoying the show. We’ll be right back after this short break.

Stay up to date with all the hints, tips, and tricks in commercial property by following Policy Property on Facebook. Go to Policy Property, hit that follow button, and never miss a beat with Policy Property. All right, mate. So let’s talk about loan interest rates and things like that. How do loan interest rates differ between residential properties and commercial properties?

So this is probably one of the negatives with commercial. The interest rates are slightly higher. It’s not a lot, it’s about half a percent to one percent higher, but it generally just depends on the type of loan, what your deposit amount is in your LVR, versus the type of property and how banks perceive the risk of that property.

One of the reasons why commercial loans have a slightly higher interest rate though is because there’s generally less competition in the kind of lending market for them to kind of provide a better rate. And then other times they’ll actually give you a shorter loan term. So it won’t be like a 30 year, a lot of the times they’re 15, 20, 25 years.

So to make the payments over that time, they have to have a slightly higher rate. All right, mate. So this is kind of the cherry on top with commercial property. It definitely isn’t the same in residential. I think it was the same for a long period of time, but there was an act that changed or legislation that changed in the last, I think it was maybe five years ago or something like that, where you can only depreciate the assets that you actually personally buy.

And you’re the first owner in residential, but that’s not the case in commercial property. Can you explain that to us? Yeah, exactly right. So like with depreciation, you generally can claim the structure of the building and plant and equipment. So like when residential, that’s like air conditioners and washing machines and things like that, you can still claim plant and equipment in commercial properties, whereas residential, you cannot do that anymore.

And plant and equipment is sometimes much more expensive in commercial, like air conditioners and boilers and things like that. So you’ll actually get a much bigger depreciation at tax time. With commercial, not just from the plant and equipment, but also from the structure, because concrete is generally got a higher depreciating rate than compared to like a timber frame house.

So you win on both fronts. You get really big lucrative kind of depreciation schedules at the end of tax time. One of the, the main, uh, depreciation guys told me this, the difference between residential and commercial property, like depreciation assets, there’s like a small amount, a very, very small amount of residential plant and equipment or things like that that you can depreciate.

But with commercial, there are pages and pages and pages. of things that you can depreciate. You don’t want to actually factor that into your numbers on why you should buy a property. But at the end of the day, that’s the cherry on top that you can actually depreciate those assets and get a lower net income there.

Yep, spot on. If you get it right, you can win on all facets of it. So, how do we know when commercial property is the right choice for yourself? So this question I get asked regularly with all my clients when we do our strategy sessions. Everyone’s circumstances are different though, so their reasons for buying commercial over residential is going to be different as well.

Some of the points we’ll touch on is why commercial is wrong for you. So one of them is, you’re basically just too early on in your portfolio. And as we mentioned before, you’ll need a larger deposit with commercial. So because you’re putting kind of 20 to 35 percent deposit, you’re losing the whole benefit of property, which is actually leveraging.

So using other people’s money to maximize your returns. So for example, if you were like a, a younger investing, you’re just starting out, I would much rather, if you want to have an aggressive strategy, go out and buy three properties on 90 percent LVRs. Versus one commercial on a 70 percent LVR because you’ll actually have a portfolio.

That’s three times as large So if you get some capital growth, you’re gonna make three times as much than the commercial So in that instance that makes sense there Another one is if it doesn’t suit your risk profile, there could be a long period of vacancy You could have six twelve twenty four months worth of vacancy So if your personal circumstances don’t allow you financially handle this period it might be too high risk for you Another one is you don’t have the required capital.

So because you do have the high deposits, you need a fair bit more capital or cash savings to be able to get into the market. But as also mentioned before, there are some cheaper properties in the market compared to residential. So you need to be mindful of that. And then the fourth one. Is actually, you just don’t understand it well enough.

Like if you’re not using a buyer’s agent and you don’t have your head around absolutely everything, just stay away. It is an area where you can get burned. So you need to be very mindful of that. Some of the reasons why commercial property is actually right for you is one, you’re getting towards your serviceability limit for residential borrowing.

So. With commercial, you’ve got different loan types and basically because it is high cash flow, when banks do their criteria on you, so normally they’re adding kind of 1. 25 to 1. 5 percent extra interest on your property, and they’re also doing P& I repayments even if you’re on interest only. and they’re taking only 80 percent of the rent you receive.

So if you’ve got quite a few residential properties and you apply that criteria, you go in the red pretty quickly in terms of the bank size, where if you’re buying a commercial, that’s got a six, seven, 8 percent yield, and they apply that criteria, it’s still positively geared in their eyes. So you can keep buying moving forward.

And then there’s also the different loan types. You can get leased stock loans and things like that, where the property itself is the main focus, not your circumstances. Another reason is you need a passive income quickly. So commercial property, as we mentioned before, you get an instant passive income.

So this might be right for say like an older client who has a fair bit of kind of savings or capital. If they say 60, 65 years old and they want to retire. Buying a neutrally geared residential property does not help them for retirement. So something like a commercial will get them there. And then another one I commonly get in this market is, if you’re a business owner and you’re cash rich but you’re poor on paper, no offense to the tax man because you know who you are.

You can actually buy a commercial with those leased stock lines and keep moving forward that way in your portfolio. Yeah, that’s right, mate. So, I mean, the way that I kind of look at it, and I’ll go on a little bit of a ramble here on how I kind of came towards commercial property. I remember being in a residential seminar for one of the big people that do those things.

And they were talking about their property strategy. And they were saying, all the properties are under 400, 000, and we’re going to buy… One property than the next property. And then the third property and the fourth property. And then this is over probably about a 10 to 15 year period and they accumulate eight properties.

Right. And then after the 15 year period, they sell down the first four and they use the capital growth and the income from that one to totally pay down the last four, and they use the cashflow of those four. to basically retire themselves and live off. And I remember thinking at the time, so I have to wait 15 years to actually get a passive income from property.

Why wouldn’t I just go for cashflow first? Why wouldn’t I go for that first? Like it doesn’t make any sense. I’ve done those plans as well, Andrew, for people, and you don’t end up with that big of a passive income. You’re talking most of the time like 50 to a hundred grand max, whereas you could have just bought a couple of commercial properties now and retired in three, four years.

Yeah, that’s right. And then the way I was thinking about it is right. Cause I want to use property to have financial freedom so I can choose to work. Not that I don’t want to work because I love working, but I want to have that choice. So the more negatively geared residential property that I bought. It actually locks me and chains me to that desk even more, but the more cash flowing property that’s actually making your position even better each time, it actually frees you and gives you options.

And that’s basically all we want is in life is options to do what we want when we want. Yeah. And having financial freedom, life is just different. And I’m the same as you, you always work, but knowing you don’t have to is just an absolute game changer. And that’s one of the things with residential property, people will go, Oh, it doesn’t matter.

I’m cashflow positive. And then they’re talking like two, three grand a year. Like it’s going to change their life. And they’re like, Oh, the rents will double in 10 years. And then I’ll have a 20 grand passive income. Okay. That’s nice to have. And it’s nice and stable. But if you want to get a passive income quicker.

You need to look at other opportunities and it doesn’t always have to be commercial. It can be other value add projects and like boarding houses and kind of development opportunities and things like that. But you need to do something slightly different to the norm. Otherwise you’re just going to have a very normal life.

And right now it’s kind of the tides are changing where people are starting to think about investing for cashflow, but like turn it back five, 10 years. Like if you said you were investing for cashflow, people thought you were an idiot. Like if you’re, you know, you’re buying property in, they always think it’s a really, really regional place.

It’s. You know, you’re going to have really crappy tenants. They’re going to be going in and out. This is for residential. But now the tides are actually changing a bit where people are starting to really think and look at investing for cashflow first and capital growth second. Well, what I’m finding is the residential market keeps growing, especially in like the Sydney and Melbournes where you’re talking million dollar plus properties.

Most young investors now are just looking at that going, well, I can’t afford that. I don’t want to have a liability for the next 10 years. And they’re looking at options and commercial is becoming more popular and hence why we’re doing podcasts like this. Yeah. That’s it. All right, mate. So let’s talk about some of the myths and can you debunk these myths for us about commercial property?

Cause there are a few and they need to get debunked for us to move forward with this educational podcast. Yeah. So we’ve covered a couple there without not growing and basically the high periods of vacancy and things like that. The other one I always get commonly told is about that you don’t have value opportunities with commercial property.

They’re generally talking about things like retail and industrial properties that are part of the body corporate, where to be honest, you can’t do much like a body corporate retail. You might be able to renovate. But that’s no different to say an apartment or a townhouse. You can’t really do anything to the outside.

You can only renovate the inside. So it’s comparable there. But if you’re buying a freestanding commercial, you have all the same development opportunities as a residential, but you can actually have more. You have more creative ways of doing it. You can basically break up the tenancies. You can subdivide, you can split off kind of areas to lay down areas and things like that.

Or you can create new sources of revenue. So you can install like ATM machines, vending machines. Rent out car spots, which I do on a couple of my properties, storage spaces you’re an expert in, advertising, putting solar panels on the roof, telecommunication towers. It’s a lot more creative than this, the standard subdivision sell off duplex granny flat type thing with residential.

And talking about value add mate, we’ll go deep into that subject because it’s actually one of my favorite parts of commercial property. I mean, I touched on it before previously, but how does income change or affect a commercial property? Thank you. Yeah, so we’ll, we’ll touch on this in other podcasts.

It’s just, we’re going to do a whole segment on value add and a whole lot on growth. But like you said, commercial properties are valued based on the return that they give. So if you can increase the return, which is ie the tenant paying their rent to a higher number, you fabricate capital growth just from that, whereas with residential, unless you’re building an entire new building, you can’t actually get more capital growth.

And then even then it’s not like for like, you do a slight renovation, you get an extra 20 30 bucks a week rent. You don’t fabricate the same capital growth in the same way. All right, well let’s wrap up the first episode there of the Commercial Property Investing Explained series. Steve, where can listeners go to contact you and get the free giveaways that we haven’t mentioned yet, but can you tell us about those?

All right, so just to contact me, go onto my website or any of my social media and just feel free to ship me a message. Um, as part of this podcast, I’m actually giving away my book, Commercial Property Investing Explained Simply for free. It’s 250 pages of this hardcore commercial kind of facts for about investing.

So go to my website and use the code word podcast and I’ll send you a hard copy of the book for free. In addition on my website, we’re going to talk about a lot of spreadsheets and things like that. You can download all these resources on my website for free. And what’s your website there, Steve? www.

policeyproperty. com Awesome, mate. That’s actually a huge giveaway. You know, knowledge is power in this game. And as we mentioned before, if you don’t know about commercial property, please don’t go into it without contacting someone like Steve or at least reading his book and really digesting the information because it is one of those things, if you get it wrong, it could be really, really catastrophic.

So please go and get Steve’s book and also Contact Steve on social media, letting him know that you’re listening and loving the podcast as well. Awesome. Thanks for that Matt. I appreciate you having me on. No worries, mate. So stay tuned for episode two, where we explain all the different types of commercial properties with their pros and cons.

And this is going to be really interesting. We’re going to break down all the different sectors and there are so many different sub sectors of commercial property that we did touch on a little bit in this first episode, but Steve’s going to really dive into it in a second. So stay tuned for that. All right, this has been author Steve Polisi and Andrew Bean on the Commercial Property Investing Explained series, where your education is Steve’s responsibility.

Thanks for listening. Thanks, mate. Thanks for listening to the Commercial Property Investing Explained series. This show has been produced by the Commercial Property Show Network.