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  • Profile photo of MichaelYardneyMichaelYardney
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    Julie

    The simple answer is a project manager is the coordinator of the whole project and runs the project. It’s not like buildinga single house as your 4 or 6 unit project will never have been built before and is unlikley to ever be built again in the same configuration.

    It’s not as simple as buildinga house.

    Architects often act a project managers but are often too detailed and not commercially realistic. Builders hate working on jobs supervised by architects

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    Yes – you must do a feasibility study before you purchase any property with development potential.

    Otherwise how do you know how much it is worth to you and how much you would be prepared to pay for it.

    And a bank will not lend you money on a devlopment project unless you did some sort of feasibity study.

    Should you use a project manager – well I’m biased, but I often say if you’re the smartest person in your team, you are in trouble.

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    As developers and project managers we prepare our own feasibility studies.

    The software we use is Feastudy. You can get details of it here…
    http://www.propertyupdate.com.au/pages/Feastudy-Key-Features

    Of course the results you get are only as good as the input you use and if you are not familiar with what this you should consider usinga project manager.

    If you would like to see a sample feasibility study for a recent project of our have a look at this….

    http://www.metropoleprojects.com.au/investors_%20learning_centre.html

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by kum yin lau:

    Hi,
    To cut a long story short, I’m interested to ask Michael whether he can help me develop another property that I bought here in Adelaide. It’s an old cottage on 1350m2 of irregular shaped slightly sloping land near a railway track.

    Anyone who’s interested can post a reply here or e-mail me.

    Thanks for reading this long post,
    Kum Yin

    Hi Kum Yin

    Sorry – we do not operate in Adelaide.

    I don’t know of anyone who provides similar services to us there.

    Martin Ayles is an Adelaide based developer who posts on this forum. Maybe he could help you

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    Hi Sean

    Property development can be very lucrative, but it’s interesting how many property developers go broke.

    I am not trying to talk you out of it. I have been successfully developing proeprties for over 20 years and I am currently involved in 3 dffernt projects for ourselves.

    Currently one of my companies Metropole Projects is involved in project manageing over 100 individual development projects for private clients.

    I am just saying be cautious and the fact that you are doing your due dilligence is great.

    Rather than re-hashing things that have been discussed before in other posts, may I please refer you to 3 articles that discuss….

    The property development process (as you asked)
    http://www.PropertyUpdate.com.au/articles/14/1/The-Property-Development-Process

    The benefits of becoming a property developer
    http://www.propertyupdate.com.au/articles/19/1/The-Benefits-of-Becoming-a-Property-Developer

    The risks of becoming a property developer
    http://www.propertyupdate.com.au/articles/70/1/The-Risks-Related-to-Property-Development

    I hope this helps a little[exhappy]

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    I think number one is best

    An upward arrow for postive cash flow or growth or improvement -or whatever

    And a tick of approval.

    Well done

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by timothy_us8:

    I am looking for some help and guidance to learn about Real Estate Investment something that will walk me step by step through investing in Real Estate properties. I have read a few on the matter but they are not what I am looking for. I am specifically looking for a tutorial that will tell me my options on obtaining a down payment or even if I should put money down at all.
    Thanks

    I assume you have read a few books and this may only confuse you more because some will say positively gear and others will say buy high growth properties. Some will say don’t borrow much and others will suggest that you should make work your money hard.

    I guess this shows that their is more than one way of investing in property.

    What suits you will depend upon how much money you have, how experienced you are, your mindset, your risk tolerence and where you live or where you want to invest.

    And this is likley to be very differnt to what will suit your situation and your changed circumstances in 2 or 3 or 5 years time.

    So don’t look for the “ideal way” and a step by step guide.

    Learn by eductating yourself. Read more, ask more questions of the members of this forum. Attend some seminars and then take action.

    One caveat – if you are going to listen to people and take their advice, make sure that they have succeeeded in what you wnat to achieve. This artcile may give you some ideas about who to listen to…

    http://www.PropertyUpdate.com.au/articles/74/1/How-to-Choose-a-Real-Estate-Mentor

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    I agree with Paul that Dale Gatehrum-Gos is great. Al lot of our clients see him and they are all happy with his knowledge and accessibility – especially by email.

    Another one you could consider is Ian Sheer who has recently aligned himself with Chan & Naylor, who are expert property accountants. I know him well. He is great and also a proeprty investor himself.
    http://www.chan-naylor.com.au

    It’s interesting how many accountants don’t actually invet in property.

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 20,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of MichaelYardneyMichaelYardney
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    There have recently bee a number of threads on this topic- you should get some answers if you do a search

    Good luck with your investing

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 20,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by DD:

    A very clean and easy process, but again very different from most buyers agents.

    Helping clients is all that its about.

    Happy Hunting

    DD

    Buyers Agent (Dip Financial Services(FP)

    So does that mean that you are wrokingas an estate agent?
    Don’t sweat the small stuff,and it’s all small stuff!!

    Hi DD thanks for explaining that.

    You said you attended the course – does that mean you are working as an estate agent, have professional indemnity insurance and are a member of the REIQ?

    I like Stuart’s checklist.

    May I please add my own? …

    http://www.metropoleproperties.com.au/checklist_for_our_agents.html

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 20,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by azmiahmad:

    Hi there. I am based in Singapore. I would like to know whether it is wise to invest in inner city melbourne apartments or houses in Melbourne. I intend to have both cash flow positive and capital appreciation on the said property. This is the first time i invest in Australia. Regards

    The oversupply of Melbourne’s inner city apartments is dwindling and they now offer some good investment prospects.

    There are better opportuities in the established property markets, but as a non resident these are not open to you.

    You will not get +ve cashflow from an inner city apartment unless you put in considerable equity. The problem is the rents are not high enough to produce +ve cash flow with 80% or so borrowings

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by sanjivgupta:

    thanks to all who replied.
    Does anyone know what the minimum land size is to subdivide in Frankston, Frankston North or Frankston South?

    “There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

    As others have explained, parts of Frankston make good sense as investment areas and there are some good long term development opportunities there.

    We have bought 3 properties in Frankston for clients in December and have offers on 3 others out at present. Most of these have been bought by our clients with the medium to long term view of subdivision and development.

    If you are considering buying with the view of doing a subdivion or development do your homework carefully. Frankston has changed its development criteria a year or so ago and now has some areas where it encourages development, others where it “tolerates” developments and some areas where it makes subdivision very difficult through its planning code.

    These different areas aren’t clearly deliniated and so we get a town planner to check out each site’s development potential as part of our due dilligence.

    In general a site greater than 700 sq mt should be able to be subdivided.

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by vkolker:

    Hello, I just wanted to find out if anyone has used a buyers agent before. If so, are they worth their comission or are they simply pushing their own agenda’s?
    If they are worth it, what would be their typical fee?

    Hi

    Do a search, as this topic has been extensively discussed recently – you’ll find heaps of information.

    Also – have a look at this article – it may give you some insights…

    http://www.propertyupdate.com.au/articles/12/1/Agent-on-your-side—how-buyer%26%2339%3Bs-agents-work

    But be careful, not all buyers agents specialise in investment properties and many so called “agents” are not licensed.. Please read this…

    http://www.metropoleproperties.com.au/checklist_for_our_agents.html

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 20,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by andrea01:

    Thanks for the replies.

    Does anyone have an opinion about buying flats in the inner west of melbourne?

    Thanks

    Andrea

    Hi Andrea

    Our statistics show you will get as good long term capital growth from a well positioned apartment as you will from a house in Victoria – not the same in other states.

    I would avoid the inner west – for the 30 years I have been in property people have been waiting for the inner west to catch up – and it never has.

    I would be looking in the inner south east or bayside suburbs.

    Some apartments we have bought for clients in these areas have increased in value by over 10% in the last year alone .

    By the way I have put my money where my mouth is – I have just bought a block of apartments in the inner eastern suburbs.

    If you are not sure where to start you could consider using a buyers agent to help you. The pros and cons have been discussed at length in other threads on this forum.

    Give Warren Loone a call at Metropole Buyers Agency on 1300 20 30 30 http://www.metropoleproperties.com.au

    They specialise in buying apartments for investors- no new stuff or developer’s stock – in fact they have nothing for sale – just access to every property on the market

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by ruroshin:

    Hi,

    I’m going to start my property investing quest early next year so I will need to have my trusty team in place. [smiling]

    I also got a call from ARPP http://www.propertyinvestmentplanning.com.au/ yesterday and they’ll contact me again after the new years to arrange a free consultation. Anybody here have any dealing with them before?

    When you get offers from people who are going to help you for “free” you have to ask yourself – “who is paying them and who do they represent?”

    In this case it’s the developers who are paying this company to sell their stock – so they represent the developer and want to get their regular customer the best price for their property so that they can get more business in the furure from them.

    There is nothing wrong with that -everyone needs to make a living, but as a beginning investor, I though it was iimportant for you to know who’s on your side.

    Now Richard who has already replied to you is a great finance broker and even though he is paid by the banks, is on you side because he has access to a range of lenders and his commision doesn’t come out of your pocket – it costs you no more to go to a good broker than dierctly to the banks.

    Another team member you good consider is an investment savvy buyers agent.

    You will find a few threads on this forum about the pro’s and con’s of using a buyers agent, but I believe beginning investors get great benefit by having an agent on their side and not represetning the seller.

    But I am biased as I have an interest in Brisbane’s leading Buyers Agency Metropole Buyers Agency http://www.metropoleproperties.com.au

    To help you better understand the benfits of using a buyer’s agent, please have a look at this article…

    http://www.propertyupdate.com.au/articles/12/1/Agent-on-your-side—how-buyer%26%2339%3Bs-agents-work

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 17,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by ftareen:

    I am new to the forum, would like to know if anyone can recommend a good accountant in Sydney Hills district around Cherrybrook or Castle Hill?

    Welcome to the forum!

    Begin with the end in mind- one dy you will have a substantial proeprty portfolio, so don’t limit your choice of accountant to a geographic region. You need someone who understands property and who will help you set up the right structures.

    We refer a lot of our Sydney clients to Chan & Naylor – who speciaise in proeprty investments – http://www.chan-naylor.com.au

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 17,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by tassiecyclist:

    I see, thanks. Wasn’t thinking of starting an actual business though, just passing on information when i see something good. My sources are simply real estate agent, websites, and anything else thats publicly available.

    tassiecyclist

    You need to be licensed to get paid for what you propose – no matter where you find your information.

    One question you should ask is – what value are you adding and why would someone pay you for your services? As you say your information is freely available publically.

    An investor who would be prepared to pay a buyer’s agent, and many are, would want to employ someone who is licensed, has professional indemnity insurance, is a member of a professional body and has a network of contacts that gets them “insider information”

    IT’s a great job – maybe you should consider doing some study and getting a license

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
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    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by Sweet:

    I do not own an IP as yet but my goal is to buy my first IP in the next 2 years hopefully in Melbourne once the market has cooled off.

    Any help greatly appreciated [biggrin]

    It’s a great idea to get together with likeminded people, but don’t wait for the market to cool down – you could be waiting 10 years.

    The Melbourne market has been flat since late 2003 when the first of the interest rate rises occured. It has been through its slump stage and is now in its stabilsation stage and the more affleunt suburbs are already in the early upturn stage of the property cycle with pirces rising – up to 20% in some suburns last year.

    With very low vacancy rates, a shortage of rental properties and few new ones in the pipe line as well as increasing rents – many of the fundementals are there for the Melbourne property market to continue to increase.

    I know that not everyone agrees with this view, but I am basing it on our research at Metropole plus my own experience investing successfully for over 30 years.

    Check out this article for my thoughts on where we are in our property cycles. It hase been frequently been quoted in the press…

    http://www.propertyupdate.com.au/articles/145/1/Property-Market-Update-November-06

    As a beginning investor spend the time to eductae yourself – read books go to seminars and learn form people who have successfully achieved what you want to achieve

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 17,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

    Profile photo of MichaelYardneyMichaelYardney
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    Originally posted by jorgon:

    Thanks very much Michael, for giving us the benefit of your experience and knowledge.

    [I suspect that these have remained unsold because the developer has reached the limit of 50% of sales which can be made to overseas purchasers.

    Hi Jorgn

    You are incorrect – Theer are many buildings where the limit for overseas sales has not been reached. It’s not that hard to find a new but property in Brisbane for overseas investors at present.

    Our Brisbane office has bought a few in he last few months – http://www.metropoleproperties.com.au

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 17,000 readers.
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    Profile photo of MichaelYardneyMichaelYardney
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    As RedWind Says Dale Gatherum Goss is great

    I can give you the name of a good lawyera nd also another acountant if you send me a PM or email

    Michael Yardney
    METROPOLE PROPERTIES
    Publisher of Australia’s leading property e-magazine.
    Join over 17,000 readers.
    FREE subscription http://www.PropertyUpdate.com.au

Viewing 20 posts - 61 through 80 (of 575 total)