I once painted a picture to hang on the wall of the house I was living in.
It was a bit of a blank wall and I was feeling artistic. For this painting, I wanted to convey the feeling of warm sunlight pouring through a window.
Is not the only painting I’ve done over the years, from time to time I get a brush out and do something interesting with a canvas,
… but this one is a little different… over the years this one has received so many comments and compliments.
Here it is hanging on the wall of Koreelah.
I bought Koreelah as an old farmhouse, and have done several renovations on it over the years. After years of living in it I ended up buying the property next door as well.
So now I live next door and rent Koreelah out for short-term stays.
…funny story about that painting though, one time I went into the local print shop to pick up printing I was getting done, and there was a print of my painting hanging on the wall.
When I asked about it he said that someone had brought in a photo of it and wanted a print done. The guys at the print shop liked it so much they printed two out and kept one.
Not sure if he believed me when it when I told him that I painted it.
Obviously, I never received any commission for it. I guess that’s why artists are always portrayed as starving.
I fully expect it to be worth millions after I pass. Lol.
When you don’t have to go do a job for a living it does leave you a lot of free time for creative pursuits.
I’m often in my shed making something or fixing something. It’s one of my favourite places to be.
But it’s no different investing in commercial property. You have to approach it with creativity and curiosity.
No one ever painted a masterpiece without having some curiosity about the subject, and the ability to think creatively when painting it.
So when I approach a commercial property as a potential investment, is often the case that I will need to think creatively about it.
Generally, agents don’t just say “Yes James you can have this awesome property with these 3 amazing upsides, for lower than market value, at an 11% cap rate – no problem at all Bud!”
Truth is that many vendors don’t know what they sitting on and they get miss opportunities all the time. I missed a huge one on my first commercial property and it was a big learning for me to pay closer attention.
The way I see it, it’s up to me to work out what the best price I can get this deal for?
…what hidden upsides are there that will increase its value?
…and how can I crunch the numbers creatively to get more out of this deal?
The upsides, the numbers, the location, property type, tenant mix, cap rate and market value are all brush strokes with which you can a masterpiece of the perfect deal.
Not everyone is going to be a Monet or a Rembrandt… I like my painting, but I know I’m no master…
The big difference between painting and commercial property is that anyone can create the perfect deal, with a little know-how coaching and support, and the willingness to think creatively and have curiosity.