FIRSTLY, LET’S DEFINE what Due Diligence really means. And then, you need to understand when you should actually consider an in-depth Due Diligence study. [Read more…]
WHEN INVESTORS or owner occupiers purchase off the plan, they can often feel left in the dark throughout the construction process.
Clearly, it is important to keep your buyers informed, updated and as happy as possible… because the reputation of the Builder and Developer is what people remember.
At the same time, the project team can (and should) assist in providing some of the communication. [Read more…]
WHENEVER YOU EMBARK on any form of construction work in an existing building, you’re first request from the Design Team should be for As-Built Drawings — for review, and to form the basis of the design process.
More importantly, the availability and compilation of As-Built documents (after a project is complete) should form part of your due diligence process at the completion of project.
Because, this provides the full scope of work undertaken, and allows for easy assessment of existing buildings — to help eliminate any surprises that may arise down the track, during future alterations. [Read more…]
WITH VACANT LAND becoming more and more scarce within close proximity to Australia’s major city centres, it has become increasingly necessary to develop or extend existing properties.
However, as a Commercial property owner, how should you to tackle this dilemma? [Read more…]
IN PART 1, you saw how changing the use of a property can affect the loading requirements — and what it can cost you.
Read on to find out who is actually responsible for determining floor loading, Australian Standards, and how to protect yourself. [Read more…]
YOU MAY KNOW that floor loadings differ depending upon the intended use of the floor — but it is not that simple.
The imposed loading on a office/commercial use building is generally 3 Kpa (3000 kg per sqm). And a residential use building is 1.5 Kpa (1500 kg per sqm).
Therefore, if you plan on converting a Commercial property to residential — the floor is capable to withstand the higher loads and meet the requirements. [Read more…]
ARE YOU AWARE of your latent condition or scope of work costs? If you are investing or developing you should have contingency funding set aside for these expenses.
Latent conditions can take many forms. You should know what kinds of latent conditions exist so you have a better picture of the possible rectification costs of these issues. [Read more…]
DEVELOPMENTS generally comprise two types of costs:
Both of these costs need to be managed. But there are two specific traps to avoid when reviewing initial planning soft costs — so that your soft costs do not blow the budget later on. [Read more…]
YOU MAY BE AWARE that budget overrun is a common problem for construction projects.
Value engineering is an effective process that assists in managing costs, throughout a project, to meet the budget requirements.
It analyses the requirements of a project, with the aim of satisfying your requirements, as the owner, in the most economical way — from capital outlay to life cycle cost. [Read more…]
LIKE ALL THINGS, there is a “right” approach and there is a “wrong” approach to finding the perfect builder for your project.
Some developers, investors and building owners fall into the tempting trap of trying to cut costs — by bringing in builders who offer to work for much less, but who may not have the experience needed for that particular project.
These people hope that by reducing initial costs, they can boost their overall profits. Unfortunately this tends to backfire on them, more often than not. [Read more…]
HAZARDOUS MATERIALS are found in a range of locations, forms and types of building structures; plus they are not just limited to Commercial projects. Unfortunately, they are widely spread through residential and public properties as well.
The identification process is the first step for anyone wishing to undertake alterations, demolition or disturbance of materials — which could be potentially harmful to workers, or the general public. And then, you need to quantify the cost of rectification; and what effect that will have upon your intended project.
Hopefully, you will quickly realise that I'm NOT here to simply "push my own barrow".
Rather, everything here has been put together to provide you (as a serious Investor) with the very best insights into what you need to know ... in order for you to succeed with your Commercial property investing.
You see, the deeper your access is to all the key information and the more expert opinions you can learn from ... the more likely your ultimate financial success will be.
That said, you will discover everything you need right here – both readily available, and all in one place.
All the very best ... Chris.
Are you in the process of planning your next Annual Conference?
Or maybe you have in mind one or more Training Workshops, for different parts of your team?
Either way, if you're looking for someone to help train you or your team on ... Commercial Property, Creative Marketing, Goal Setting or Negotiating ... Chris Lang can certainly fill that role for you.
Take a look at this short Video which will give you an idea as to the sort of training that's available.