How a First Commercial Deal Became a $1.7 Million Win
About this episode
Mish Daniel shares her challenging experience with her first commercial property deal in Townsville, highlighting the importance of due diligence and strategic pivoting.
What do you do when you discover two days after settlement that your tenant was already planning to leave before you even bought the building? Most investors switch straight into panic mode. Commercial property looks simple from the outside, good yield, stable tenant, steady growth. This episode is about what happens when reality doesn't cooperate. Mish Daniel shares the unfiltered story of her first Australian commercial property deal, a warehouse in Townsville that looked like a solid 7% yielding industrial asset and turned into a masterclass in everything that can go wrong when you let assumptions do the work that due diligence should be doing. The seller knew the tenant was leaving. The agent knew. The deal had fallen over twice before she came along. She found all of this out after settlement. But here is where the story gets interesting. Instead of cutting losses, she pivoted. She stress-tested the situation, found temporary income during vacancy, negotiated a lease, and used the freshly improved building to attract a national tenant. A property purchased for $1.038 million was revalued at $1.3 million after the new lease was signed, climbed to $1.5 million in year three…
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