Hi Woodsman
I assume rp data is updated the same way our credit ratings are updated. For example, my PM is currently chasing one of my tenants for unpaid rent through the magistrates court (I’ve already received two $50.00 cheques, and apparently he’s so well known by the courts that he’ll go to gaol if he doesn’t keep paying. He’s living back at home with his mummy, who’s the person liasing with my PM and getting the $50 lots out of his hide on our behalf. Gotta love these longsuffering mums and dads!!). The magistrate gives a judgement, it’s recorded online, from where it is downloaded AUTOMATICALLY as a ‘black spot’ against his name by the two biggest credit reporting agencies:
* http://www.baycorpadvantage.com.au (go to http://www.mycreditfile.com.au)
* http://www.dnb.com.au (Dun & Bradstreet)

These 2 credit reporting agencies are fully upfront about how they collect their information, because they’re governed by privacy legislation, including provisions which give all of us free access to our credit files by snail mail (takes about 10 days).

If anyone has detailed info on how quickly rpdata info is updated after a sale, I’d be interested also.
Cheers
Greg

Hi folks
Once you own a big enough portfolio, you can usually ring up one of your property managers and ask them to do you a favour. This is what I do.

Since virtually all RE agents subscribe to “RP Data”, they are more than happy to do a Real Property search online and give me a printout of the results in the same street /price paid for the particular property the last time it was sold (ie., how much the current owner paid for it, its Sales History etc etc.)

Good luck.
Greg

Hi Mini

This thread is “My Mission”. Are you building a Mission or something? [biggrin] Have you gone all religious on us? [biggrin]

Just joking! I’m betting you’ll make a squillion! My motto these days is to “Buy Wholesale, add value with my knowledge, sell Retail.” That’s what being a developer is all about, so …

…Welcome to the ranks of “Developers Inc.” [cigar][cigar]. Our Rural Residential subdivision is going nicely; we’ve just formed a broader group of investors and are currently buying the 40 acre block next door to the 60 acre block we already own. This will give us a total of around 50 bigger blocks of land. The bigger builders like bigger subdivisions better than smaller subdivisions, plus we get to build our road along a higher contour rather than across a lower lying area which we’d have to build up /put water pipes underneath etc etc. A win/win outcome all round.
Cheers
Greg

Hi Bernie

And congrats on your awesome website. I strongly urge all readers (especially if you’re quite new at this game) to click on Bernie’s:
http://www.my-wealth-plan.com
for an inspiring look at how to write down your goals, and publish them. All the guru’s recommend you do this as a first step, but so few people actually do it. Well done on following your mentor’s advice, and in such a rigorously systematic /publicly accountable manner, Bernie.

Re the ACT online lease, obviously you can ask a RE agent, but they’re busy people. Because I have quite a few IP’s, I can always get this sort of info by just ringing one of my Property Managers. You’re paying them, so they owe you, right? However, as I don’t own property in Canberra /Queanbeyan, I can’t make a call on your behalf. You might want to PM some of the Canberra forumites who own IP’s there, and ask if they can help you get a copy of the lease.

Cheers
Greg

Another welcoming and uplifting post from you, Monopoly.

Well done (as usual)!

My advice is to:
1. Stay well away from paralysing doom and gloom prophets, and
2. Read Peter Spann’s “$10 Million Property Portfolio in 10 Years” asap.

I’ve mentioned Spann’s 5 year suburban cycle elsewhere on these boards, but if you want an EMINENTLY PRACTICAL way to profit from the purchase of Median House Price statistical data over the past 10 years in your capital city, there’s no one better than Spann.

You already know this, Jo, but I can’t think of a better way for a serious novice (ie., a novice who’s prepared to ACT on the tips provided) to start than by learning how to practically apply data re 5 year capital city suburban cycles.

Cheers
Greg

Hi GC

Sorry for my tardiness. Life’s just too darned busy. My JV partner and I are doing our first Rural Residential sub-division in SE Qld, and have so far relied on a basic spreadsheet.

Our surveyor has just done his first preliminary surveys (“thumbnail sketch dipped in tar”, as he calls it), designed to get the contours for the most economical road route. He’ll be sending this to our Civil Engineers, who will then be able to come up with more accurate “ballpark costings” to help us get ready to submit to our banks re infrastructure funding. We’ve also joining forces with our competitors (2-3 other key developers in our area) for a possible joint approach to Ergon Energy re 3 Phase electricity to service all our lots.

Am very interested if you can get good info on this, so don’t give up. My tip is to try the direct approach – PM directly some of the key developers here or on somersoft. Hopefully they won’t “have my guts for garters” for dobbing them in here, but I’d suggest clicking on the “Members” button in the top Left Hand corner, then searching for and PMing:
~ Michael Yardney (under M, not Y)
~ Qlds007
~ Richmond
~ Resiwealth
~ Rick Otton
to get you started, as well as myself.

If we work together on this, we should be able to come up with something more refined than our basic spreadsheets.

Looking forward to your pm, and please post your findings here afterwards, okay?

Cheers
Greg

Hi Steve

We have a JV partner from this forum, and are doing a Rural Residential subdivision in Gympie which is going nicely. I’d be happy to offer advice/suggestions if you PM’d me, and then rang for a chat.

Wilandel are highly regarded here; make sure you follow up their offer to advise you.

And one last thing. Don’t let fear rule you, okay? Some highly credentialled people have already responded. Just ask the hard questions and, as always, do RIGOROUS due diligence.
Cheers
Greg

You asked for our thoughts, so watch out!!

I’m wary that your enthusiasm doesn’t appear to extend to putting in the long hours of solid due diligence / research that success in this game actually takes.

You need to be more focused. You appear too scattergun – ish. I love your enthusiasm, but I suggest as a first practical step that you list, in detail (and for your own benefit, not ours, although we need to see your detailed, precise list) ALL the books you’ve already read. We’ll know them all, or most. And please don’t fudge the list to impress us.

We want to help, but you’ve got to get more real, and that’s shorthand for “more professional”. No hard feelings, okay. I repeat, we want to help, but you need to roll up your sleeves, sharpen your pencil, buy a financial calculator, and READ.

Keep smiling, and keep up your enthusiasm.
Cheers
Greg

Hi John

I’m an investor /developer living in a SEQld regional centre. Two tips:
1. I second Pelican’s advice re the SEQ regional plan. Download and study it very, very carefully.
2. If you decide to invest in suburban capital cities (eg. Brisbane, Gold Coast, Sunshine Coast), I’d strongly encourage you to learn from a fellow who can teach you how to PRACTICALLY APPLY median statistical research data (eg. median house price movements over the past 10 years). Lots of people talk about it, but Peter Spann shows you how to do it. He has a brilliant chapter on this topic in his book “How to Build a $10 Million Property Portfolio in 10 years”.

If you’re a relative newcomer, you may be tempted to skip over his section, thinking (wrongly) that it doesn’t apply to you or you’ll do it at some time in the future. I read and reread the chapter 4 or 5 times to make sure I knew what to do with a highlighter pen once I’d bought the statisticasl data for the areas I was researching. Do it, okay?

Cheers
Greg