Forum Replies Created
OK I’ll stick my neck out[blush2]
I have a vested interest which will become clear in a minute.
There is no doubt that some seminars are a waste of money. And of course you could read some of the content in books or find it on the internet.
But there are others where you will definately get value for money and learn from the presenters.
Steve McKnight is someone you would learn from and pick up points that are not in his books or on this forum.
How do I know?
Well… I have read his books and I have presented on the same stage as him(in Nov last year in Brisbane.) He was a great presenter and of course some of the contents is in his books but some wasn’t. At a seminar you have a chance to interact with the presenter.
Are seminars worth the money?
Well that depends….
For 4 years I have been running an annual seminar called the “Real World” real estate workshop and each year I offer a money back guarantee, for anyone who at the end thinks they didn’t get their money’s worth (that’s right you get to stay till the end.)
Of the hundreds of attendees NOT ONE has asked for their money back, so they felt the investment was worth it.
What about the stuff that’s not in the books or on the internet?
I can give you a hundred testimonials from experienced investors that attended my workshop who will tell you that the advanced topics covered are not available elsewhere.
I know because I “spill my guts” and tell all the details I have learned over 30 years in real estate as do the other 7 presenters.
All the presenters are active in property today and are increasing their portfolios in this market.
There is still alot to learn, don’t be cynical.
Find someone who has done it already and is still doing it.(not a theorist.)
Steve McKnight has done it and has shown others how to.
So have I for a bit longer than Steve, but then I am a lot older. So have the Reno Kings, Dale Gatherum-Goss, Rob Balanda and that’s why I have invited them to join me at our workshop. Check out this link
http://www.metropoleprojects.com.au/html/s02_article/article_view.asp?art_id=107
Please keep learning. It’s one of the traits common to successful people.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auOriginally posted by MiniMogul:Hi guys
I’m doing my first development this year. I’m planning on making approximately 25-45% equity on completion, and it being cashflow positive from day one.
How do you like my chances?
(hee hee)
I’m taking bets….
cheers-
MiniHI Mini
I think your ambition is great and I do not want to deter you, but I do wish to bring a little reality to the situation.
I am speaking from experience. I have been doing developments for over 17 years (and been in property for over 30 years.)
I am currently involved in 80 residential development projects for clients (www.metropoleprojects.com.au)
I am not telling you this to impress you, rather I want you to understand where I am coming from.
At some stages of the property cycle your “mission” is possible.
BUT….
At this stage of the cycle with high building costs, rising interest rates, flat or falling end values and banks and valuers that put low figures on your end product, I am sorry to say you dream is unrealistic.
I have my own construction company and a team of seasoned professionals behind me.
Our best projects are returning 20% equity and still some negative cashflow.
But at other stages in the cycle you may be able to achieve what you are aiming at.
Again, I’m not trying to deter you. Learn a bit more, do your sums very, very carefully and go for it.
If you want to learn more you may find this link useful
http://www.metropoleprojects.com.au/html/s02_article/article_view.asp?art_id=107It’s our once a year property development workshop with 8 top property experts teaching you all you need to know about property development
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auOriginally posted by resiwealth:Price to build $850.00 per/sq/m
regards Phil
Phil
That may be the price for the shell, but if you were to include driveways, landscaping and all the rest we are finding building costs for a good finish townhouse is $1,050 to $1,100 per sq mt.Multiply this by the total area including garages.
But there are lots of other costs to consider, not just the building cost.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auI guess he is keeping his options open in case your finance falls through. Someone else may ring him from the board.
Lets hope your finance gets approved quickly
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auCentral Equity is a pubically listed reputable company. Unlike others is they commence a development they have the resources to complete it and they will honour their rental guarantees.
Having said that, would buying an apartment in one of their complexes make a good investment?
I think you could find better deals elsewhere.
They had a reputation of poor quality and thinh walls and this hindered resale values.
Also as Monopoly has explained, their is currently an oversupply of apartments in the near CDb region esp in Docklands and to a lesser extent Southbank.
You would get better growth elsewhere. Especially buying an older apartment in the bayside suburbs which would be bigger than you new apartment and half the cost.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auShe is wrong.
You have the right to on sell the property once you have signed a contract.
But then you are also wrong….
You will need to pay stamp duty.
There have been some creative techniques devised to try and overcome this, but in Vic (the market I know well- having bought 4 properties for clients this week alone) the STate Revenue Office has really clamped down on assigning contracts and will charge you stamp duty.
There is still one way around it and that is not to buy the property but to take an option over the property and onsell the option. This is an advanced technique and not for everyone, but will be discussed at length by a top property solicitor at our “Real World” real estate workshop in June. Details are here:
http://www.metropoleprojects.com.au/html/s02_article/article_view.asp?art_id=107Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auBe careful!!
Most banks won’t lend for small apartments less than 5 squares in size
Of course its cheap – no kitchen stear clear
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auI also use Feastudy for most projects. http://www.devfeas.com.au
For complicated projects I sometimes use estatemaster. Its a super duper excell spreadsheet. You can download a trial version at
It is much more difficult to “drive” than Feastudy, but it is the program most valuers use. If you think Feastudy is expensive (and it isn’t) you will be blown away by the cost of this and the annual support contract.
I have just been chairing an industry conference aimed at big property developers and conducted a session on Feasibility studies
http://www.lawfinance.com.au/CorporateFinance/050221BlueprintMel/index.htm
The big guys use Estatemaster but most mediun size developers there were using Feastudy.
The programs are great, but totally useless unless you know what figures to put into them.
At my annual “Real World” real estate workshop in June we concentrate on teaching the development process – how to become a proeprty developer – including an in depth discussion on how to conduct a feasibility study
http://www.metropoleprojects.com.au/html/s02_article/article_view.asp?art_id=107
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auI have just been chairing an industry conference aimed at big property developers and Melb 2030 was amajor point of discussion.
http://www.lawfinance.com.au/CorporateFinance/050221BlueprintMel/index.htm
We are 2 years into this policy and on the whole the big developers were happy with it.
The delay in its implimentation was blamed on the local councils who have not updated their policies in line with it.
I agree with the others that delays in development applications are due to local counil problems. Alsitair is spot on saying keep local councillors out of the planning process.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auThere may be a big back yard, but for the council to allow you to put a second dwelling on the site, you need to provide carparking for both dwellings as well as private open space for both. These should have a northerly orientation.
It is unusual for councils to allow a double storey dwelling at the rear.
So it’s not as easy as it seems
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auI agree with the previous posts, but corner sites are more efficient as both properties can have street frontages and you may not need to waste space on a driveway down the side of the block to get to the second unit.
First port of call (being a sea side block) is the townplanning department of the local council. They will give you an idea of what is possible.
Then see a local architect who should understand the local planning regulations well
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auOriginally posted by vicgirl:Thanks for the info….unfortunately the site doesn’t work on my PC.
I use the site a lot and it gives you exactly the information you are looking for. You need to pay $5 or something like that for the map.
Try it again, becuase the site is often down or very slow to download. It may be better to try it after hours when there is less traffic to it
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auOriginally posted by Derek:Hi Michael,
BITE.
Derek
[email protected]Property investment advice and researched property in quality locations available.
That didn’t hurt[blush2]
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auOriginally posted by Bradles C:Hi Guys,
Can anyone recommend any good property investing seminars to help further my investing knowledge ?……
I have heard that Steve Navra’s seminars are worth attending. Can anyone recommend his seminars or are there any other seminars in the Melbourne area that would be worth attending ?
Thanks heaps guys [biggrin]
Brad
I’m going to stick my neck out, knowing it may get bitten off (is that the right expression?)
For the last 4 years I have conducted an annual “Real World” real estate workshop.
A 2 1/2 day intensive and advanced seminar for experienced investors. It’s not cheap but not one person has ever asked for their money back (there is an unconditional money back guarantee and you can stay for the whole workshop before you decide if it was worth it.)
Every year we have experienced investors come from all over Australia – last year the Reno Kings who run their own seminars came and paid to attend!
This year I have the greatest line up of experienced property experts ever assembled in Melbourne assisting me. They are all established experienced investors (been through more than just one property cycle) who have increased the value of their portfolio’s over the last fewdifficult years..
Check out this link
http://www.metropoleprojects.com.au/html/s02_article/article_view.asp?art_id=107
Is it still worth going to seminars? I won’t answer that because I am biased, but if you want a CD full of opinions from past attendees send me an email
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auI have been investing in property for over 30 years so I have bought in both the ups and downs.
I have summarised the ups and downs of the property market over the last 20 odd years in the lead article of the current issue of our property e-zine.
For those that don’t subsccribe you can get this issue free at http://www.metropole.com.au and click on subscribe
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auIts the land that appreciates in value and the dwelling slowly depreciates until it adds little to the property value.
I have had great successful for both myself and my clients buying properties at or close to land value. The house is thrown in and brings in some income.If purchased in the right areas, this type of property appreciates better than newer properties. I look for sites with devlopment potential and eventually built new townhouses on the sites
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auOriginally posted by Ricksta:Got an interview with Raine and Horne this weekend.
GGood luck with your interview
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auWhen I was a young lad and impressionable I thought i wanted to be a real estate agent and drive around in a fancy car ( In the 60’s they were driving big American Yank Tanks)
Then I realised that it was the people the estate agent was working for – the property owners- who were the wealthy ones, not the agent.
I have read that the average agent earns $30,000 per annum. Now I know you won’t be an average agent, but……
Now I am older and wiser and I am a property developer and investor and I also own an estate agency (www.rentingmelbourne.com.au)
I know where there is more money to be made. I can make more in one good property development than any of my licensed agents make in a year (and it took them 3 years to get their license)
Having said that, real estate is a great way to make a fair living if you are prepared to work very, very hard.
You first need to get an agent’s representative license (short very easy part time evening course)before any agency will even talk to you.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auI know a number of people who had the same idea but it din’t get off the ground.
In fact one client is in litigation over this ecat same thing at present. One of the problems was defining what the profit is.
Unfortunaely in the case of my client each party had different expectations.
What experience have you had? What are you bringing to the party?
Why should they nuse you and not go straight to a surveyor and not share the cost?Don’t get me wrong I’m not trying to be negative. It’s great that you are thinking laterally. I’m just adding a bit of practicality having seen a few of these go wrong.
Anyway… good luck with it
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auI have done quite a few ( 20+) commercial developments over the years.
It is definately not for the beginner and the fact that you are asking the type of questions that you are asking suggest that maybe you should start with a simpler type of development.
In many ways building a commercial property is easier than building a house but the commercial property market is very different the residential market and you generally need more money to become involved in commercial properties.
Start with something less challenging and less risky.
You may learn a bit at http://www.metropoleprojects.com.au and check out investors learing centre
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.au
