G’day! Here we are again, spinning towards the end of the year faster than ever. Time flies when you’re deep in the thick of property projects, doesn’t it? Today, I want to share a little about our latest adventure—a new commercial deal we’re working on in the heart of Perth. If you’re on your own property journey, aiming for those “property dreams,” buckle up because this story has some valuable takeaways on growth, discomfort, and seizing opportunities as they come.
This isn’t just any deal; it’s a three-storey building project that’s pushing us way out of our comfort zones. So, let’s dive in and I’ll give you a glimpse of what’s happening behind the scenes.
Stepping Up to a New Commercial Deal
We’ve managed to lock this property down under a 35-business-day due diligence period, giving us time to make sure everything checks out. This commercial deal is a whole different ball game compared to the smaller projects we’re used to. When I say it’s a big step up, I’m not exaggerating—there have been some serious “butt-clenching moments,” as I like to call them. This isn’t just a flip or a quick cosmetic uplift; we’re talking about a full transformation of a three-storey building in central Perth, aimed at giving it some major appeal and, let’s be honest, some solid returns.
I never thought we’d be looking at something like this, let alone trying to figure out the ins and outs of a building this size. But hey, here we are! And honestly, it’s a bit exhilarating. Every step of the way, from understanding zoning requirements to navigating council approvals, reminds me why I love the unpredictability of the property game.
The Power of People in Property
A massive part of this commercial deal has been building a team and network that’s just as passionate (and maybe just as crazy) about property as we are. Working alongside Australia’s top commercial property mentor, Melissa Fisher, has been invaluable. She’s brought insights and strategies that I wouldn’t have figured out on my own, and I couldn’t feel more supported. It’s a reminder that in property, just like in life, having the right people around you can make all the difference.
This project has also introduced me to a whole new set of players I hadn’t dealt with before—architects, town planners, council officials, brokers from the “high end of town,” and so on. When you’re working on a significant commercial deal, the relationships you build with these people can make or break the project. And let me tell you, these folks don’t just do business over email. They want face-to-face meetings, lunch dates, and a personal connection. There’s a real emphasis on respect, trust, and showing up, which is a refreshing change from the traditional transaction-based relationships I’ve been used to in residential projects.
Getting Uncomfortable at The Weld Club
Now, for a bit of a curveball: as part of this process, we were invited to an exclusive lunch at The Weld Club, a “fancy pants” members-only club in Perth. Shelley, my wife, was absolutely keen, but I was on the edge of my seat with discomfort. A formal club with a long history of being “men only”—you can imagine the panic. Me in a t-shirt and jeans? Sure. But me in formal attire, surrounded by polished mahogany and likely even more polished businessmen? Hell no!
But Shel put her foot down, saying we needed to go, build relationships, and show respect to the people we’re working with on this commercial deal. She was right. So, I put on my ritzy glam corporate wear, plastered a smile on my face, and off we went. And surprise, surprise—it wasn’t the stuffy, pretentious nightmare I’d expected. The building itself was stunning, filled with history and charm, and the people were genuine. We had amazing food, fantastic company, and even a laugh or two. And guess what? By stepping out of my comfort zone and showing up, we ended up securing an off-market property opportunity for our next potential project. Talk about a silver lining!
Embracing the Uncomfortable for Growth
This experience reminded me of one of my core beliefs: if you’re not a bit uncomfortable, you’re probably not growing. I tell my students the same thing all the time. Growth happens in those moments when you’re a bit out of your depth, scrambling to find your footing. It’s something my mentor drilled into me, but sometimes you need a little push (or a rocket from your partner) to get back to that mindset.
Our journey with this commercial deal has been a wild ride, with plenty of uncomfortable moments. But every time I think about backing out, I remind myself of why I started this journey in the first place. Property isn’t just about financial returns; it’s about learning, adapting, and proving to yourself that you can tackle whatever gets thrown at you. It’s about chasing those property dreams with a fire that keeps you moving forward, even when the road is bumpy.
Lessons from This Commercial Deal: What You Can Take Away
So, what’s the takeaway from all of this? First, property is a team sport. Surround yourself with experts who know what they’re doing and who can lift you up when things get tough. If you’re jumping into a commercial deal, especially a big one, don’t try to go it alone. Find people who can help guide you and support you.
Second, when an opportunity comes knocking, even if it doesn’t look like “your thing,” give it a shot. The uncomfortable moments—whether it’s suiting up for a stuffy lunch or navigating the complexities of a commercial deal—are where the magic happens. Growth, both personally and professionally, thrives in discomfort.
Lastly, always keep your eye on your property dreams. Whether it’s a small residential project or a high-stakes commercial deal, remember what you’re working toward. For me, it’s not just about the profits. It’s about building something bigger than myself, pushing my limits, and inspiring others to take charge of their financial futures through property.
What’s Next on Your Property Journey?
If there’s one thing I’ve learned from this commercial deal, it’s that you don’t have to have everything figured out to start. Sometimes, you just need to say “yes” and trust that you’ll work out the details as you go. So, what are you doing to get uncomfortable this week? Have you taken any steps towards your property dreams lately?
It might be time to shake things up and tackle that project that’s been on the back burner. Take a risk, make a move, and remember—you’re not alone on this journey. There are always people out there, like the team we’ve built around this commercial deal, who are willing to support you and help you grow.
Righto, that’s enough from me today. Keep chasing those dreams, and stay tuned for more updates on how this project unfolds. If there’s anything specific you want me to dive into, just shout! Otherwise, I’ll keep sharing the lessons and laughs from the front lines of the property game.
