I am pushed to find a suitable title for this topic as the information I require more than likely shadows my conception of the project at mind. So, I throw it to the wind and trust the combined experience and expertise among you may steer us to the light. …………
My family hopes to develop a 21 acre property in a township to the North of Cairns, QLD. As the figures involved with capital finance and potential returns are rather high we seek reputable guidance through the potentially treacherous waters ahead. We realise the potential and the RISK and appreciate any information you think may assist.
[blush2]SINALOA –
Indecision is the greatest thief of opportunityTo offer assistance and advice on the feasbility we would need further information on both the parties concerned and the project.
Obviously you may feel that some of this information is sensitive and you wish to keep private but to accurate appraise the proejct much more information would be required.
Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Richard,
firstly thankyou for your reply. I find it of interrest you are with a finance institute as we have spent the past couple of days seeking the varied opinions of finance brokers as to the options available to us to get the actual project started and would be happy to here your opinions should you care to contact me personally. My intial post however is focussed more at the actuall method of development.Do we seek the assistance of a development consultancy firm, if so can anyone recommend a reputable agency with suitable experience servicing that area and what ar the general terms we should expect from them.
Pending the start up capital and finace options available do we look for a developer or an invester?
Or someone who is looking to park finaces into a secured investment for xx% return over a specified term? I like the idea of creative finacing and obviously this is not supported by the major lenders and another reason a seek the wisdom of the forum
The brief ….property is owned by family. initial outlay would be a deposit to secure neighbouring property (also owned by family though not wanting to be involved in development) and submit applications to town planning etc (purchase of these blocks would untimately be subject to application approvals. Development of the then 21 acres would be done in four stage. The first two stages, by our calculations and previous negotations with developers would comforatably exceed inital outlay and should be recoverable within 30 months of inital deposit.
The recent developments within the townships infrastructure would suggest greater returns then our estimates though we have been conservative woth our calculations.
I eagerly await further participation in this post [blink]
SINALOA –
Indecision is the greatest thief of opportunityHi Sinaloa
Yes i actually run my own finance briokerage so have been involved in both financing such developments as well having undertaken a couple of projects myself.
To me it sounds like you are very early in the peace and will certainly need to enagage the services of a consultance firm. If the project was in or around Brisbane I could certainly give you details of a couple fo firms we have used in the past but with the amount of work in the SE corner most of them are flat and arent looking much further afield.
You then will need to decide how much involement you want to have in the development. Do you want to organise the Consulting Engineers day to maintainance of the contractors or leave that in the hands of a developer or project manager who will want a cut on the project as well as salary.
Dependant on the number traditional and investor style financing options maybe possible.
If you want to contact me off the forum with actual numbers then feel free do so.
Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Richard,
You are correct in assuming the project is at very early stages … We have recently agreed if we can acquire the finance to secure the neighbouring properties, we would actually be able to do the development ourselves with the guidance of a development company (something like Georgiou or Works Infrastructure here in WA) However, the initial pursuit of a consultancy was to make the concept more favourable to the traditional lenders in effort of securing the initial finance … something to the expertise of Watsons pty ltd (from what I have sourced on the internet) would be ideal …. Though I am sure they charge a hefty fee for such thorough services and I doubt they service the far north.
email me what sort of information you require and I would be happy to discuss the concept further. The initial outlay would marginally exceed $ 1.2m, though managed well with recpect to our 3-5yeard plan could see substancial returns.
SINALOA –
Indecision is the greatest thief of opportunity
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