Commercial Property Investor Podcast

I'm joined by Paul Million to discuss the importance of mindset in achieving a higher level of success. We delve into the challenges and tips for maintaining a positive mindset, even in the face of distractions and setbacks, touching on personal experiences, childhood traumas, and the power of belief coding. As we discuss, there's a need to be kind to oneself and to embrace self-acceptance. We also explore the concept of setting goals and finding a balance between ambition and contentment.  KEY TAKEAWAYS Having a positive mindset is important for personal and professional growth. Mindset can be developed through education, self-belief, and positive self-image. Setting goals and visualising success can help in maintaining a positive mindset. It's important to be kind to oneself and practice self-compassion, especially during challenging times. BEST MOMENTS "I've been doing some energy healing lately. I've been doing some belief coding and I believe that life's an exploration."  "It's all down to belief. And Richard Perry, he has a great book, Strategy Navigation." "I'm not a grinch, but I just don't enjoy Christmas as much as I should."  "I felt like I had a wrecking ball on my chest, not knowing which way to turn."    Find Paul on Linkedin: https://www.linkedin.com/in/paul-million   JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

This week, I'm exploring the topic of identifying signs that a customer may be considering moving on to a different property partner. Drawing parallels to personal relationships, I talk about the importance of recognising subtle clues that indicate a client's potential unfaithfulness. From changes in behavior and communication patterns to secretive property searches and hesitations during lease or license negotiations, I'll provide you with a playful guide to interpreting these signs.  KEY TAKEAWAYS Pay attention to signs of a wandering eye: Look for signs such as ignoring messages, cutting short conversations, or avoiding eye contact, which may indicate that a customer is considering other options. Changes in behaviour can be a red flag: If a tenant's behaviour takes a different turn, such as using different types of communication or showing hesitations or reluctance to discuss lease renewals, it could be a sign that they are exploring other options. Look out for secretive property searches: Similar to hidden dating profiles, tenants may discreetly search for other properties or have discussions with other landlords about breaking their agreement early. Unusual requests or inquiries about breaking a lease or license can be indicators of potential unfaithfulness. Build relationships with local agents and competition: Fostering relationships with local agents and competitors can provide valuable information about clients who may be considering a move. Sharing information about difficult clients and maintaining open communication channels can help stay ahead of potential departures. BEST MOMENTS "Sometimes they find it really hard not to give off that signal. It might be that they just care for you and they want to let you down gently."  "Those secret property searches are like hidden dating profiles. They're out there. They've maybe searched with a local agent or they've maybe searched with a national agent."  "Do you confront or do you inquire? This depends on your relationship. Do you have one of your staff members perhaps or yourself who has an ear of an employee or a business director in the said business?" JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

Let's address the question on every investor's mind: Is 2024 a good year to dive into commercial real estate? Turns out, the answer to this question is highly personal and depends on each investor's circumstances. I'll share my observations of the market, noting that while there were some challenges towards the end of last year, the new year has brought positive signs with increased inquiries and viewings.  KEY TAKEAWAYS The dynamics of the commercial property market are shifting, creating both challenges and opportunities. The decision of whether 2024 will be a good year for investing in commercial real estate depends on each individual investor's circumstances. Optimism, planning, and action are key factors in navigating the market and making the most of opportunities. Different sectors of commercial real estate, such as office space, industrial, storage, and retail, have varying trends and dynamics. Investors have control over their own commercial property journey and can shape their success through active participation, knowledge gathering, and decision-making. BEST MOMENTS "It's kind of a loaded question, really, isn't it? Should investors be getting into commercial in 2024? Well, The truth is, it's incredibly specific to each investor's circumstances."  "The dynamics of the market are shifting, right? It's creating both challenges and opportunities, but that uncertainty and some of the financial hurdles and different things might be causing problems, but they're also driving down some prices."  "I think optimism planning and action are the three key factors here. And sure, if you're maybe a wee bit of a You're finding it difficult to have optimism. As long as you're taking action and you're planning, then that's going to make a big difference."  "So is 2024 going to be a good year? The answer lies in your hands. It's more about making plans, taking necessary actions and being prepared for the opportunities that will undoubtedly arise." JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

This time, I talk about the challenges and opportunities facing high streets in the UK, sharing my own experiences as a commercial property investor and operator, as well as insights from working with other investors in the industry. I'll talk you through various factors affecting high streets, such as business rates, parking, transport, planning, and the changing retail landscape, emphasising the need for a holistic approach to revitalising town centres, including a mix of uses, experiences, and residential spaces.  KEY TAKEAWAYS The high street is facing challenges, but there are opportunities for investors and operators. Each town and high street has unique circumstances and requires a tailored approach to regeneration. Business rates and inflexible rate systems are a major obstacle for businesses and landlords. Parking, transport, and planning policies play a significant role in the success of high streets. Bringing more residential spaces into town centres can contribute to their revitalisation BEST MOMENTS "The new minimum wage. Whatever the logic for £11.44 an hour, whether it's political, social, whatever, the result, or one of the results, is that food and beverage establishments and retail are going to find it incredibly difficult not to put prices up considerably."  "The levers are similar, but the combinations can be quite different."  "The income generation for government in city centres is through business rates. Now, OK, maybe through parking tickets too. But it's through a business rate system. And it's all about retail space."  "The new high streets won't just be about selling goods. The mix will include shops, but could also include housing, offices, sport, schools or other social, commercial and cultural enterprises and meeting places." JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

This time, I'm talking to John McCauley, the founder of Grit Studios, a unique niche in the commercial property market. John shares his journey of merging his passion for art with his property expertise, creating a thriving community of artists in Stockport and Manchester. He discusses the challenges and successes of building a brand and community, the importance of finding the right buildings and locations, and the potential for scaling the Grit Studios model.  KEY TAKEAWAYS Building a strong brand and telling a compelling story can open doors and attract potential partners and landlords. Focusing on a specific niche or target audience can create a sense of community and provide unique value to tenants. Transparency and open communication with tenants about pricing and expectations is important for building trust and maintaining a sustainable business model. Scaling the business may require hiring additional staff to manage operations and foster community growth. Engaging with local councils and community groups can help create partnerships and opportunities for placemaking and community development. BEST MOMENTS "I think as we get more sophisticated, moving forward that maybe we don't want to sell our soul but maybe there's bigger businesses who've got bigger budgets who would pay a little bit more to be around." "We're very anti-establishment, I think, in the way we operate"  "I think, we probably do a little bit too much in some respects in terms of, if we calculated our hourly rate, it probably isn't fantastic because we probably do throw the kitchen sink at it sometimes."  "As we start to scale, those are two recruits that we'll be looking to bring."  JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

In response to a recent question in the Commercial Property Investor Facebook Group I asked Anthony Boyce join me to discuss our experiences of redeveloping listed buildings including the processes and challenges we have had to deal with over a combined number of projects  We look at the importance of allowing extra time for the planning process and highlight the need to invest in thorough documentation and research into the history of the building. We also discuss the financial benefits and unique features of listed buildings that make them attractive projects to work on, sharing our experiences and offering advice on how to navigate the additional requirements and considerations that come with working on listed buildings.  KEY TAKEAWAYS Listed buildings require additional time and planning due to their historical significance and the need for conservation. Working with listed buildings can offer unique and interesting projects with financial benefits. It is important to work with heritage consultants or conservation architects to navigate the additional requirements and documentation needed for listed building consent. There may be grants or funding available for certain aspects of the project, but it is important to carefully consider the long-term sustainability of the building. Detailed analysis and upfront investment in drawings and statements can help streamline the planning process and minimise restrictive conditions. JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

In this episode I thought it was time to review the goals we had for 2023 and share my plans and expectations for the upcoming year. There were a few including increasing monthly turnover, improving energy costs, finding a new location, and developing The CPI network. Have listen to seemhow they all turned out. I also talk through our plans  for the 2024, including further redevelopment of office space, finding an eighth building, reorganising finance, and growing The CPI Network   KEY TAKEAWAYS The goal for 2023 was to increase the monthly turnover to 125k by June 2024, and we are currently roughly on target 😀 We have been working on reducing energy costs by cutting unnecessary usage, generating more of our own energy, and increasing overall income. We have made progress in reducing energy consumption through better controls & replacing lighting, resulting in a 13.8% reduction in electric consumption on one site. We have been focused on developing The CPI network, holding networking events and helping members expand their commercial property portfolios. BEST MOMENTS "Last year we were excited to reach 100K turnover per month..."  "We forecasted for the rates in general for our heat and energy to double... So the anticipation of higher costs was part of the reason for a higher turnover target"  "We've spent heavily this year on better controls, replacing lots of lighting... The first results from that so far are a 13.8% reduction in electric consumption on a large busy site."  "We failed to generate more of our own energy... But we're going to work on it."  "We're going to move more towards private investors... to enable us to move quickly on opportunities I'm starting to see on the horizon."  JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

I talk to Anthony from Rocket Group, a multi-disciplinary property development company, who shares his experiences of developing and running multiple businesses within Rocket group. From investing & developing to architecture and even archaeology.  He talks about his background in architecture and his transition into property development., and then we delve into specific projects, such as a church conversion and a mixed-use development, highlighting the planning process and the importance of delegation.  KEY TAKEAWAYS Anthony has experience in developing listed buildings and sees opportunities in this area due to less competition. Anthony shared his experience with a church conversion project, highlighting the importance of involving conservation officers early on and presenting extreme versions of the proposed plans to negotiate and find a middle ground. There are challenges in finding properties where the conversion costs are higher than the resale value, which reinforces the need to consider the pound per square foot sale rate in an area. There could be potential impact of future market changes, such as interest rates and inflation, but we should have confidence in the property market's resilience and our ability to adapt to new circumstances. BEST MOMENTS "I've said yes to a lot of things and maybe regretted some of them afterwards."  "I think with the free money that was given out basically over COVID, I think that's set a precedent now, hasn't it?"  "I just go to sites or go to projects and then try and think of how best to make money on them." "Certain conservation officers would rather see something fall down... it's a very odd environment sometimes."  JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

I talk to Chris and Andrew from Brightstone Spaces who discuss their journey in the property industry and their recent projects, sharing how they transitioned from residential property to commercial property, and highlighting the challenges and opportunities they encountered along the way. They delve into the details of two specific projects, including a shop and uppers conversion and a large office space in Falkirk, as well as the process of finding and securing these properties, the refurbishment work involved, and their plans for generating cash flow through serviced accommodation and office rentals.  KEY TAKEAWAYS It's important to find stagnant or fresh properties in the market to maximise opportunities. Chris and Andrew, have been friends for over a decade but decided to go into business together during the pandemic. They initially focused on residential property but later shifted their attention to commercial property. Chris and Andrew successfully completed a flip project in the residential market, which gave them the confidence to continue in property investment. They then ventured into buy-to-let properties and serviced accommodation, which provided higher cash flow compared to traditional residential buy-to-lets. Funding for the commercial property project was initially planned through a bridge loan, but Chris and Andrew were fortunate to connect with potential angel investors who were interested in providing funding. This allowed them to secure the property and proceed with the refurbishment at a better rate. They highlight the power of networking and building relationships in the property investment industry. BEST MOMENTS "It felt like a lot of money, a lot of effort, and a lot of time."  "We're talking about 2,200 basically is the number we've got in terms of cash flow."  "It's like starting a new business." "We were very lucky that a couple reached out and said they were interested in being part of it."  JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.

This week, I'm talking with Adam Lawrence, a property investor with a vast portfolio and an economics background. While the conversation touches on Lawrence's property ventures, the focus is primarily on the economics, particularly the Bank of England and interest rates. We discuss the concept of forward guidance and its effectiveness, as well as the accuracy of economic forecasts. Adam provides insights into the factors influencing inflation, such as external events like the Ukraine crisis and their impact on commodity prices. We also delve into the role of interest rates in controlling inflation and the challenges faced by the Bank of England in making decisions.  KEY TAKEAWAYS The Bank of England's forward guidance has been criticised for its lack of accuracy in predicting economic outcomes, such as recession and interest rate changes. The Bank of England uses market forecasts to inform its own predictions and decision-making, but this approach can lead to uncertainty and confusion in the markets. External factors, such as global commodity prices and geopolitical events, can have a significant impact on inflation and the economy, making it challenging for the Bank of England to control inflation solely through interest rate adjustments. The Bank of England's communication and clarity of strategy have been questioned, with concerns about the effectiveness of forward guidance and the lack of coordination between the bank and the government. BEST MOMENTS "I think people kind of missed the point with that Jerry because that's good central banking in my book because ultimately there's a Ben Bernanke phrase where he said good central banking is 98% talk and 2% action and that's what you want."  "I think they've used models that are great while everything is chugging along relatively stably, right? And the problem is things have not been chugging along with stability at all. This has been a relatively unprecedented cycle."  "People suffer with sunk cost ideologies and stuff all the time."  "When the facts change, I change my mind, sir. What do you do? People definitely get stuck in ruts and don't want to admit that they're fallible. There's definitely a part of that. They are human, as you said." JOIN THE NETWORK If you want to learn more about investing in Commercial Property why not consider joining the CPI Network? A community of active investors who collaborate, share experiences and empower each other in their Commercial Property endeavours. Useful Links: CPI Website - https://commercialpropertyinvestor.co.uk/Our Sponsors -  https://commercialpropertyinvestor.co.uk/podcast-sponsors/Property Investing, Commercial Real Estate, Strategies, CMO, Lease, Licence Agreement, Cashflow, Vacancy rates, Agents, Best Commercial property podcast, how to buy, Valuations, ROI, residential, assets, Flexspace, office space, How to get started: https://www.commercialpropertyinvestor.co.uk/See omnystudio.com/listener for privacy information.