Since 2011, Oli Wills, has been instrumental in purchasing properties for investors, ranging in values from $500,000 to upwards of $14,000,000. During his dealings with clients he is often asked ‘do you own commercial property?’ and ‘if it were your money, would you buy it?’
Oli has always known that acquiring commercial property for building wealth is a rewarding yet complex journey, and when the time was right he would join the party. That opportunity arrived straight after the March 2020 lockdown. The tables were turned and in a sense Oli became the client. He reflects, “It was a really insightful process for understanding what a new investor goes through. My wife Gemma and I are no different to some of the clients I help daily. We have a young family, Gemma is a risk adverse lawyer, our budget was limited – the due diligence had to really stack up.”
Undertaking the same robust process Oli follows for all property acquisitions, the pair jumped on an industrial property out by the Auckland Airport. Favourable factors included its flexibility and suitability for a wide range of tenants, a price point within their budget, a strategic location, a ‘safe’ investment regarding yields, and a straightforward sale & purchase contract.
As with any smart investment, Oli also knew there was little time to waste before another buyer would capitalise on the opportunity. So with their ducks in a row, they secured the property and today it continues to enjoy occupancy by a successful electrician.
Practicing what he preaches has been a valuable exercise for Oli, “it’s a strong reminder of what it’s like to be in any investor’s shoes. We were recently offered a price to purchase it from us, and again I’ve become the client, advising on the pros and cons! For us, while the value stacks up, our longer-term goal is to increase our portfolio.”
If you would like to chat to Oli about building wealth through commercial property, please reach out.