{"id":6927,"date":"2016-02-05T01:00:20","date_gmt":"2016-02-04T14:00:20","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6927"},"modified":"2016-02-05T01:00:20","modified_gmt":"2016-02-04T14:00:20","slug":"women-should-invest-in-industrial-property","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/women-should-invest-in-industrial-property\/","title":{"rendered":"Women should invest in Industrial property – Lilly Cawthorn"},"content":{"rendered":"

 
\nToday we will hear from the author of a book called \u201cThe Money Factory: Teaching Women How to Make Money from Industrial Property\u201d\u00a0that sets out a guide to women who want to invest in industrial real estate.\u00a0Lilly Cawthorn<\/strong> is our guest.
\n <\/p>\n

Transcript:<\/strong><\/h4>\n

Kevin<\/b>:\u00a0 Industrial property or investment in industrial property has largely been the domain of male investors, but I was delighted to see a book called \u201cThe Money Factory: Teaching Women How to Make Money from Industrial Property\u201d written by my next guest, Lilly Cawthorn.
\nLilly, welcome to the show.
\nLilly<\/b>:\u00a0 Thank you so much, Kevin. I\u2019m delighted to be here. Thank you for inviting me.
\nKevin<\/b>:\u00a0 Congratulations on a great book, too. It largely has been the domain of men, hasn\u2019t it? Why is that, do you think, Lilly?
\nLilly<\/b>:\u00a0 It\u2019s not an area that is discussed even widely amongst men. I think it\u2019s because it\u2019s traditionally been lumped in with commercial real estate. People think of commercial real estate as shops and offices. Therefore, the idea of a factory doesn\u2019t even cross their radar. That\u2019s true for men and women, but you can particularly imagine that it doesn\u2019t appeal to women. It doesn\u2019t sound sexy at all that you invest in factories and warehouses.
\nKevin<\/b>:\u00a0 No. Given that\u2019s the case, how did you get started?
\nLilly<\/b>:\u00a0 I arrived in Sydney almost 20 years ago. I traditionally invested in residential real estate. I purchased several houses, what I call ugly houses, and prettied them up because I love interior decorating. That was my thing. I arrived here in Sydney on holiday and met my husband. At that time, he was an industrial real estate sales agent, so I discovered industrial factories and warehouses through him.
\nKevin<\/b>:\u00a0 Did you buy your first property from him?
\nLilly<\/b>:\u00a0 No. What we did is when we decided to get married, we lumped everything we owned together and we set a goal. Both of us, fortunately, are great believers in setting a goal that you aim for and have an annual board meeting and be sure you\u2019re on track. Our goal was that we would end up owning the industrial real estate that he was working at.
\nThat\u2019s how we got started. My first piece of industrial real estate was actually the building that the agency was running out of. After we got that up and running, then I bought my first factory.
\nKevin<\/b>:\u00a0 And you\u2019re still running that agency?
\nLilly<\/b>:\u00a0 Yes, we\u2019re celebrating 50 years \u2013 not us, but the business. Bawdens Industrial at Parramatta is celebrating 50 years of continuous business. My husband and another partner bought it in 2006.
\nKevin<\/b>:\u00a0 Let\u2019s talk about industrial real estate. Lilly, in your book, you say it\u2019s all about the tenant. What do you mean by that?
\nLilly<\/b>:\u00a0 I think the tenant is hugely important because I look at it as like a marriage. You need to be dedicated to look after each other and have a bit of give and take. If each one comes from a selfish point of view, then you get a lot of friction. My husband is big on this, as well, for educating the other people who he has in his portfolio.
\nIf the market is poor, if business is having a tough time, if all of the utility costs are being put up and up and up, like we\u2019ve seen recently with electricity and water, it\u2019s not fair to keep raising the rent just because you feel you deserve an increase every year.
\nI\u2019m lucky enough to have the same tenant in two of my factories that I\u2019ve had for the last 15 years because I understand in the tough times, you have to be gentle, and then when times are better, you can maybe push it a bit harder.
\nKevin<\/b>:\u00a0 Would it be fair to say that the tenants you can attract to an industrial property are going to be business people so therefore, they\u2019ll probably look after it a little bit better?
\nLilly<\/b>:\u00a0 Yes. That\u2019s been my understanding. Across our portfolio of more than 700 buildings that our business manages \u2013 not my own portfolio but other people\u2019s \u2013 we do hear the odd sad story but mostly the tenant is there to make their livelihood. It\u2019s not in their best interest to trash your property. Also, Kevin, the leases are great. They really look after the owner unlike residential leases.
\nKevin<\/b>:\u00a0 Let\u2019s round this chat out, Lilly, if we may with your tips for anyone who wants to get started in industrial real estate investment. What would be your first tip?
\nLilly<\/b>:\u00a0 The way I did it is I started small. It seemed a lot easier to understand a small strata title factory, about 200 square meters. It\u2019s like a small apartment. Then you you\u2019re usually only dealing with one person or a couple who are the tenants. It\u2019s easy to visualize. You\u2019re not intimidated when you have to speak to them. That\u2019s how I started. It felt safe.
\nThen I just simply kept building more of the same, because eventually I accumulated $1 million worth of property that was bringing me $100,000 a year. After that, you learn and you grow as you move through it. Then I started buying bigger factories and warehouses and then getting involved in property trusts. Like anything in life, start small until you understand it.
\nThe other big, big thing is have a separate bank account for each property and don\u2019t spend the profit until you really know what you\u2019re doing.
\nKevin<\/b>:\u00a0 Yes. With a lot of people who listen to this show, we\u2019re always talking about putting together a team. A team that you may have for residential property, is that going to be the right team for industrial, or is there a difference?
\nLilly<\/b>:\u00a0 There\u2019s a big difference, and it\u2019s a very good point you\u2019re raising. I consider myself an industrial property investor. I am not an industrial property expert \u2013 and I don\u2019t want to be, because I have a team of five fantastic businesses who really look after me.
\nYou need fantastic finance advisors. You need a really good accountant. You have to have a wonderful industrial real estate agent, not just an agent who thinks he can sell everything. You need people who understand the market, and then you need fabulous asset managers who look after you financial investment for you. We\u2019re very proud in our company that it\u2019s women doing that job, young women, and they do it better than men.
\nKevin<\/b>:\u00a0 Good on you, Lilly. It\u2019s been great talking to you, Lilly Cawthorn. The book is called \u201cThe Money Factory.\u201d If you\u2019re interested in industrial real estate or even sticking your toe in the water, you want to start by reading this book.
\nLilly, thank you so much for your time. It\u2019s great talking to you, and all the best. We look forward to catching up with you again real soon.
\nLilly<\/b>:\u00a0 Thank you so much, Kevin. I want to tell your listeners that they can get a free Kindle version of my book by going to TheMoneyFactory.com.au and sending me an e-mail.
\nKevin<\/b>:\u00a0 There you go. TheMoneyFactory.com.au for a free Kindle copy of that book.
\nWell done, Lilly. Thank you for your time.
\nLilly<\/b>:\u00a0 Thank you so much.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Today we will hear from the author of a book called \u201cThe Money Factory: Teaching Women How to Make Money from Industrial Property\u201d\u00a0that sets out a guide to women who want to invest in industrial real estate.\u00a0Lilly Cawthorn is our guest.   Transcript: Kevin:\u00a0…<\/p>\n","protected":false},"author":176692471,"featured_media":6928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[10,11,13,25],"tags":[101],"class_list":["post-6927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"\nWomen should invest in Industrial property - 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