I bought a shopping centre (and sold all of my resi properties)

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I owned several residential properties, and they were doing fine. But I started thinking about what I really wanted from my investment journey. So I bought a shopping centre and I am sharing all the details with you in this video.
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Steve Palise is a buyer’s agent experienced in sourcing quality commercial property investments. He has helped thousands of clients secure and purchase properties. Steve Palise has worked for Australia’s leading buyers’ agencies and is passionate about helping others to achieve their goals and financial freedom. His philosophy: Investments should increase your wealth and passive income with as little risk as possible.
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Video produced by Social Wave
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DISCLAIMER: Not Legal, Financial & Taxation Advice.
The Listener acknowledges and agrees that:
• Any information provided by us is provided as general information and for general information purposes only;
• We have not taken the Listeners’ personal and financial circumstances into account when providing information;
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[@bh.9456]

Great explanation!

[@spreadsheetdoctor]

Absolutely loved the deal. I am temperamentally more suited for commercial property investing than residential. Will be in touch with you

[@its_nickv]

Can you replicate similar results for a client? Asking.. for a mate

[@pataralfonso]

Are u a buyer’s agent for commercial property?

[@hasha9]

You are not accounting for tax when you say it'll be paid off in 10 years...real life numbers will be a lot longer

[@stevepalise]

Suprisingly not - I didnt take into account many things such as depreciation and what the rental increases actually are (I took a conservative approach). There are ways to mitigate tax with property. For instance - I could have bought it in a SMSF.

[@hasha9]

@@stevepalise Realistically 30-40% of the rental income is tax , even if you include rental increases it's almost double 10 years

[@stevepalise]

@@hasha9 unless you already have a negatively geared portfolio, or buy in SMSF, or split it up into family trust where you disperse the cash to family members who are lower than the tax bracket etc.
I am not saying it is tax free money but you would be suprised what you can do. If it makes you feel better the 10 year plan just becomes a 14 year plan.

[@chicken3365]

@@hasha9 not if you know what a family trust is

[@ElectroBlender]

Unless you buy a couple of dog wash bays and stick them in one of the sections and they're like 100% a year return $10/10mins ​@@stevepalise