About

Joe Marjason

My mission is to help investors who are interested in buying commercial property by providing actionable insights on my underwriting process whilst avoiding the inevitable pitfalls that come with buying a commercial site.

I want to make it easier for you to speak with agents, analyse properties and make realistic offers that positions you ahead of other buyers whilst keeping the returns you've projected in your underwriting. All the articles on this website involve real deals that I've worked on and the lessons I've learnt along the way. I aim to help you navigate the complex and (at times!) gruelling environment that is commercial property.

As the owner of a property portfolio myself, I understand that selling property is rarely just about the transaction. I work directly with owners who are interested in selling their commercial properties as a direct buyer of industrial sites and warehouses. This means no long marketing periods or agent fees and enables you access to a straightforward alternative to the open market. Whether you're looking to focus on your core business, consolidate your portfolio, or unlock capital for new opportunities, I'd welcome a conversation.

Why I do this

I created a Buy-To-Let residential property portfolio whilst working as a Network Architect in the space and aviation sector. Whilst it was providing great returns, I wasn't happy with the velocity of capital that was being invested so decided to move into the commercial property space.

I'm very data-driven which has helped me in my career but slows me down at times in property due to analysis paralysis. To get past this, I've built frameworks and systems for you to use to help accelerate your underwriting process and decision-making. Speed, persistence and timely decision-making are integral to landing a commercial property deal that delivers the returns you want whilst factoring in worse case scenarios through a conservative approach.

My approach

I've analysed hundreds of potential sites and spent thousands of hours refining my due diligence frameworks and models so you can make more informed decisions whilst finding opportunities faster. One thing to note is that commercial property always carries uncertainty as it's probabilistic, these frameworks help aid decision-making, but commercial property always carries inherent risk, so bet accordingly.

I always underwrite downside scenarios first: pressure testing lower than expected rents and exit yields and higher than expected capex. This gives each deal a safety net if things go awry. I've built checklists to help you assess sites conservatively without having to spend £3,000 - £10,000 on surveys.

Many buyers see limited stock and a highly competitive market and use this to justify bids way over asking. The problem with this approach is if the market turns sour, or you can't get planning permission for the intended use, you'll then need to sell the property. It then risks not selling at that price or sitting on the market for several months whilst you incur holding costs. Always cover your downside.

What I'm looking for

I'm looking to build relationships with owners of industrial units and warehouses who may be interested in selling their properties. I'm also looking to connect with surveyors, architects, property developers and suppliers in the commercial property space that would like to partner or have an initial conversation to see how we can help each other.

What you'll find here

You'll see real site walkthroughs and lessons learnt from offers I've made across multiple deals. I'll explore how to estimate refurbishment costs, mistakes to avoid, planning nuances to consider and how to negotiate effectively with agents and owners so you can make credible offers that position you at the top of the pile. Everything you see is battle tested on the field through trial and error so you don't have to go through this yourself.

Principles

Always challenge your assumptions and don't get emotionally attached to any of the deals you work on. I've spent months and months on deals only to be pushed at the end to go past my price threshold which I've always rejected. Time is valuable, and sunk cost is real in this business, but being locked into a property you can't sell for a price well over market is much worse. Always think long-term and be willing to accept that you'll fail but remember you're never really going back to zero as you're learning and building new relationships constantly which compounds over the years.

Outside property

Outside of property I box regularly (as if getting punched in the face working on these deals wasn't enough!). I've done one white-collar fight and I'm hoping to do another in the future (it was a draw so I kind of have to now!). I also like to travel as much as I can and I'm attempting to visit every country in Europe (which will take a lifetime at the current rate, but there's no harm in trying).

Get in touch

If you're an owner of a site and want to contact me to have a chat, don't hesitate to drop me a line at +44 7441 424425 or joe@joemarjason.com

Likewise, if you'd like to connect and discuss a potential business partnership or opportunity, send me a request on LinkedIn at https://www.linkedin.com/in/joemarjason/