Forum Replies Created
I think you scared them off with your ‘mentoring’ posts…..
lol
kpEasy peasy Dr X
Just ignore it…
Or call gross and talk to him direct.
Your curiosity will then be satisfied.kp
I haven’t bothered to read the article…
But the more bad news out there, the better as far as I am concerned.
Less competition and therfore more scope to take advantage of all the opportunities out there.
Like Resi, we are busy, busy, busy, making great returns on property.
We are busier this year than we were last year, and next year will be busier than this year.
Lets hope the property market doesn’t turn ‘up’ as we are strugling to cope in the current ‘down’ market.I would dearly love to diversify and start investing in the share market for some balance, but we are just doing too well with property atm.
BTW, I also know many investors/forumites who are in the same boat…
kp
Now THAT makes sense…
Thanks tfb for such an insightful and blunt assessment.
One of the more sensible and logical posts I’ve read for a LONNNNNGG time.Now thats great due diligence.
kp
Hi New,
I mean Rayson…..
Quite frankly, if you’re starting out with the attitude that all development blocks get offered to developers first, you’re already behind the 8 ball with a closed mind.
And then to add that anything you get to see must be a ‘John West reject’ ???So much negative sentiment….are you sure you really want to go developing ??
First thing to adopt is a positive mindset.
ie….’anything is possible if you believe it is’The next thing you need is perserverance……ie…don’t give up after one or two rejects….keep looking, keep digging ( but only if you truly want to have some success)
I will give you a real example:
Myself and another investor buddy, became aware of a subdivision block.
We knew that two local and experienced developers wanted it.
We knew they always offered cash and had deep pockets.Never the less, we put our offer in knowing that it needed to be cash ( even though we needed finance to complete the purchase)
Our offer was against one of the other developers.
Well, we won….and the only difference was that we offered 60 day settlement and the developer offered 120 day settlement.If you believe you can, then you can, if you believe you can,t then you’re right again….
kp
Gross you must be the second coming, because you are still speaking in tongues. (lol)
Can you clarify what the significance of the 6 months is ??
Does the project have to be wra_pped up in 6 months ( completed and sold/revalued) or just the project get underway ( finance set, contracts signed, etc)I am neither a mento_r or a mento_ree, but I’m still happy to pit my project against one of yours, but I, like the others reading this, am not quite sure what exactly you are proposing.
I have spoken to you personally, so I know that there is some method to your madness, and I, like other forumites can learn a lot from your strategies and experience.
But something gets lost in the translation when you put it in writing.
So…….please explain…..(sorry Pauline)
kp
Don’t die yet Gross,
We haven’t been able to decipher your posts yet!!!So in a nutshell, the answer is ‘NO’
No licence required.The other thing is…what is the definition of a ‘developer’?
I have been building houses and doing small scale duplex and triplex developments since 1990, and I would not class myself as a ‘developer’
It is one of the things that I do, and its more like an investment vehicle, or even a hobby.I think you can get too hung up with titls and putting tags on your name…and calling yourself a developer is one of those hang ups.
If it interests you, just do it.
kp
Get yer comments in quick……..
before this thread gets locked down……What a rant…..
I gave up reading in the first paragraph.
But one sentence struck me…
‘Why on earth land bank in Aus?’
Simple answer…because its profitable.When you can get 60 acres for under $250,000 on ‘freehold’ land, with a zoning for subdivision already in place, and the cost of application for DA is not in the 100’s of thousands, why wouldn’t you land bank ??
The holding cost on the land is minimal, and there is potential to derive an income off the land in the meantime, thus making your holding costs tax deductible.
And in the meantime, the sales evidence for the area points to the land value increasing.
There seems to be the perception there there is unlimited land in Aus therefore there is little sense in holding land, or investing in land, but that is not necessarily the case, as location and demographics have an impact on whether land is valuable or not.
As part of a diverse strategy in property investing, land banking is a great subset.
kp
OK pick me !!
I’m no mentor but I’ll take up your challenge.Unfortunately, will not be able to post details till next Wed. after discussions are finalised.
Would have to be an interesting read……
Thanks Terrykp
Wayne,
Most accountants or solicitors will be able to organize a company for you.
Usually they have a few shelf companies, with the names already picked and registered, which are transferred over to you or the directors you nominate.
If you want to pick your own name for the company, it may take a bit longer as it need to be checked with asic first to see if the name is available.
Cost can be as low as $900 and up to $1500, depending on who you use.This is referring to WA by the way.
kp
I saw it….
I read it….
That whole area is going to take off now…..and become a real hub of activity.
Anywhere you poke a stick at in WA seems to be going off.Has anyone mentioned the bu*ble word yet ??
kp
If you come to the conclusion that it was the wrong decision, can you sell for a gain ?
What is the current market value of your apartment compared to what you paid for it?
What was the purpose of the purchase in the first place…was it purely for investment to rent out, or did you have ideas of living there yourself at a later date ?Prices may already be high, but that does not mean they won’t go higher.
East Perth has recorded senastional growth over the last few years.
As long as there is not a glut of new and vacant apartments on the market, you should do fine, as there is a scarcity factor with East Perth ( limited land bounded by natural boundries ) as is the case with South Perth peninsula.kp
Hi Bradshaw,
I am in a similar position in that I am also lost in the desert in the Pilbara of WA.
I have a similar idea to move on within 12 to 15 months.It seems that you have the opportunity to make the move and not leave your employment for 12 months.
I would suggest try it out first and see how you settle in.
Theres plenty of work in most places anyway, so if you can get some part time work, you probably will not need to LOE as you previously described.Bottom line, you’ll never never know, if you never have a go.
It maybe be a bit daunting and a big decision to make, but you can always retreat back to the desert if it doesn’t work out.
kp
uhhhh…..
Someone forgot to ask Dazzling if he is interested ??
And so, far he hasn’t respopnded yet…Gross, what area of specialising are you promoting and what are you offering ??
Interested in some of your financing models..
kp
Hmmmm…
Its not looking good so far…Any more informed opinions on N/bridge ??
Sorry Mei,
Bad habit. I always build in pairs.
Usually on duplex blocks, but I can’t find too many that work atm.Redwing, I thought that was on the mydmap they included with the article. If that is the case, it will definitely impact on the area ??
But they did mention that it was all due to go ahead withing two years, so it could take two years before Amarillo starts ??
If its all two years down the track, there must be a political reason for releasing the information now..kp
Hi Mei in Singapore…..
No ma’am,
Lot 101 was the other one.
I know who has an option on 19…..if its not exercised, maybe you should pick it up ?As it is, looks like I have forumites as neighbours on both blocks, as well as across the road, and that forumite has a block in the Anchorage estate, which is neighbouring another forumite….and we’re all having a BBQ at Marisa’s once she has built…( heh!!)
Anyway, I heard that stage 6 was coming on at around $200k ?? so it will be interesting how this impacts on teh existing lots and property prices.
kp
