Awesome doco, something I have seen first hand in China. Anyone taken the bullet train from Bejing to Shanghai? empty plains, then bang the new month there are 100 apartments going up. They have a interesting 'incentive' system to 're-populate' with small business owners obtaining cash incentives and ownership then make a killing when they sell it two years later.

The developer discount of 1/3 was pretty sad though.

Thanks for sharing.

Cheers, Ivan

Hi Roxy, great suggestion, we liased on the other thread, as you know, quick money can be made by buying a old house and selling with plans and permits, especially in areas where there are significant Chinese investors as you can make a premium (subject to their finance criteria). However, depending on the buy why stop there?

We generally dont stop there and develop as well. Many of our properties are purchased off market through strong relationships with agents/ sellers in the area, so usually there is a saving there too.

I think first step is find the right property and go with cash flow together/ post purchase. Microchip i'll send you a pm later to share experiences, comes down to project feasibility and finding the right property is imperative to success and profit. 

FYI we are seeing significant Chinese investment driving down Whitehorse road east down to Ringwood – development site feasbility taking place daily.

Cheers, Ivan

Hi Microchip.

Great to hear your moving into developing.

Firstly, when going into business with friends, I always have a concern, make sure everything is documented, as many of these arrangements cause headaches.

Secondly, all of these areas have fantastic potential, by finding the right property in these areas, and with the right development, you will be in for a great profit in a few years.

Why?

Great infrastructure in the area with Trains plus Eastlink, and as you have seen Costco is in the area, many of the large developers are in the area looking at sites and already some have been purchased. You will notice the landscape changing over the next 5 years….use Box Hill as a comparison.

So Depends on the size of the block and the price you want to pay. Usual stuff look for caveats and look around the artea you are buying for other development sites. If there are, then you will most like get less rejections and push back from the council. I developed in the area in the last couple of years and found it pretty pain free with communication with the right people at he council and no objections from neighbours.

You can then look at plans for the site. I can reccomend a great person for this.

Then you will need a builder if you don't have one. I can also reccomend our builder who has done a number of developments in that area.

Depending on the development, construction will take 6-9months and at that time you can look at your sales strategy.

Be sure to do a CF analysis and approach a broker for finance there is some great ones on this forum and I can reccomend who we use also who finance many developments in the east.

Hope that helps

Cheers, Ivan

Thats hilarious, with many 'single' guys or gals, thats a popular opinion, particularly with SMSF members with a sole trustee. Some of the responses I get when I ask the member to consider life insurance is hilarious.

Good to know, i'll look into this. Had a client inquire about the same mob this week, I had not heard of them however did say 'if it is to good to be true, investigate hurder….'

Cheers, Ivan

Pretty familiar story unfortunately. 'Pressure' buying is rampant in the property industry, and there are a number of Chinese property firms that are maters of this and they are very successful in their approach. In these cases, attendees are vulnerable and uneducated, something I strongly object to. Gizzy, be free to pm their name to me and I can see if I have similar stories from my clientele.

Hi guys, In Melbourne there are no shortage of buyer advocates and property agents, and you will notice they work in different ways with different models and therefore its extremely important that you find that right one.

My firm uses two in Melbourne which I am happy to provide the details to you and you can take it from there. They will cover both English and Mandarin speaking clients. Offices located close to the city as well for convenience, just give us a yarn at and i'll provide the details.

Cheers, Ivan

If you don't speak a word of chinese, that is part of the issue in breaking in. Chinese culture and business custom is very different to ours. If you show them a contract, they will laugh. Not much is documented over there. They will need to build trust with you, so if you are caucasian as I am, bring a beautiful Chinese girl with you (such as my partner), and I can tell you you are one step along the jouney.

The Aussie groups I have seen are not successful for a reason, they try to break into China with no contacts at all. I have been dealing with China for sometime and my networks with China to China and Australia to China is very strong, so with reputation will come work.

Be aware of 'government officials' over there, know who they are and how they travel to Oz and you have a great platform to build on.

Cheers, Ivan

Hello all,

I joined this forum in Novemeber or so so missed out on all these posts. I just spent a good 45 mins or so reading through the stories here. Unfortunately I was not a forum user back then, but was and always have been a property investor.

Firstly, sorry to all the investors that have been jibbed by this group, really am. Unfortunately, it is a familiar story with many property groups. Great credit to this site and the others that provide a source of due diligence for investors before they sign. Unfortunately sometimes its too late due to 'pressure buying'. Sometimes I do scratch my head with the significant emphasis on SMSFs when certain property groups can continue to get away with pressure selling to uneducated investors with no 'education', after all this is what ASIC has a task force for SMSF, why stop there.

As I write this, I am near the Silverwater resort at my holiday home, I know many people who were burnt there as well as other 'complexes' in the area.

I really feel for you, please do seek advice on your options and find other like you to voice your concerns. Unfortunately, this tactic is widespread, I see it everyday with our Chinese friends who are pressured into large scale purchases from 'reputable' property groups. 

Please be diligent, research, speak to repected forum members before you make that huge investment, and please have someone read the contract before you sign.

Cheers, Ivan

Hi Streamline, firstly congrats!

Are you purchasing personally or through a LLC? If you don't mind sharing which bank you are with that would be fantastic, there are a million banks in the US however, some of the leading banks are extremely poor, particularly with my clients.

Be sure to have a local expert review documentation with an understanding of the state and local taxes and laws in Florida.

Good luck!