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He’s avoiding commercial and the smaller capitals – why 1 investor is going all in on units for the yield
Josh Crealy used to sell commercial property for a living. Now he says most investors are pivoting from residential too early, and he’s put his money into Melbourne and western Sydney units instead.
On this episode of The Smart Property Investment Show, Liam Garman sits down with LEVR’s Josh Crealy, a former commercial sales agent who has bought 15 Melbourne properties in the past 18 months, to ask where he’d put his money now and why.
Crealy says the 18.6-year land cycle points to Melbourne and Sydney leading the next recovery, with the smaller capitals having already had their run. He treats the cycle as a framework only, and explains why it must be overlaid with supply, demand and affordability.
Then he explains why he’s wary of commercial property. From a Perth hair salon with a tenant who isn’t paying to an off-the-plan warehouse with a rent-back guarantee that left its owner unable to sell for what they paid, Crealy shares the cautionary tales he’s seen. He also outlines what to check in a lease, and why he believes better commercial buying opportunities could be 12 to 24 months away.
The pair also compare individual units with unit blocks, including how lenders classify larger blocks as commercial loans, what that means for loan-to-value ratios and borrowing power, and the checks Crealy runs before buying.
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