Is there anyone that can give advice on how much my property is worth to the developer or does someone know of anyone that i can pay for their services like a valuer.The devoloper has made an offer i dont know whether its worth only that amount or if its worth more.I’m in caboolture Brisbane two minute drive to centre of town on five acres backing onto huge chook farm,the devoloper wants that plus all the other 5 acre blocks in the street it would be a big project.
Hi coreyjay
Can you email with the following
Where is this site street address.
What the size of your land.
Whats on it and what has the developer said he Wants to put on it.
I can give you an approximate price, when do you need to know I wont be able to tell you until tommorrow night monday.
Ask some of the local real estates they will also be able to tell you a rough price.here to help
Thanks i’ve sent an email
Coreyjay
Maybe i should of put this in devolopments made easy section Mr yardney do you have any suggestions?
hi coreyjay
I got your email haven’t had chance to get the info yet but you haven’t put a price you think its worth.
This is the most important you are in that market send it to me will look tomorrow and email you backhere to help
Originally posted by grossrealisation:…but you haven’t put a price you think its worth.
This is the most important you are in that market …from my understanding of Coreyay’s post he/she does not have strong idea what is fair market price in this circumstance, that is point of this post.
Corejay’s idea of price couldnt be of importance to you, when you are trying to work out fair price. its only important to you so you can know if a good deal is to be had.
perhaps you’ll make an offer …too good to be true
perhaps i’m wrong.
Hi coreyjay and harpeau
I’m not here to purchase this site(the price of the site is only relevent to the person who is buying the site).
First the seller must have a value that the site is worth.
( read my tag I’m here to help)
once he has a value ( and he gets that from me, you or anyone who can check the area that this site is in. he has a value).Then mark that price up depending on what the grossrealisation is(thats why I asked what the developer thinks he can get on the site).
This is the figure that the developer will pay.
some where between the price he/she thinks its worth and the price the developer thinks its worth is the value of the site.And sorry maybe I’m reading this wrong but my posts are not to buy these sites they are to help.
As for it not being important thats like walking into a shop to haggle on an item and the assistant saying there is no price you give me what you think first.
In asia thats works for jeans but not real estate.Coreyjay needs to have in his or her mind what he or she thinks its worth and then leverage from there.
One last thing for harpeau I think you are wrong or( perhaps i’m wrong)I don’t invest out of Sydney and some of us do not need to get to that level.
coreyjay sent me an email and I’m letting him/she know I received it and will answer it.Maybe you should have a little faith that some of us here and as the tag say are here to help. read my post harpeau you may learn
here to help
grossrealisation can you perhaps show us your workings when working out what is FMV for coreyjay’s property – I would be very interested in learning this methodology.
Hellman
will do.
give me what you call fmv.
were all here to learn.here to help
[uOne last thing for harpeau I think you are wrong or( perhaps i’m wrong)I don’t invest out of Sydney and some of us do not need to get to that level.Fair enough. I must have misunderstood you when you wrote in your thread MAP TO KNOW WHERE AND WHAT TO POST
“Currently I live, develop, and run my businesses out of Sydney and wouldn’t know the backend of a dunny in perth but if there an opportunity there then I’d like to know of it….Real estate is only one but you (a) can’t see every good deal or (b) be every were.
I syndicate alot of my deals and if there is a deal in bris, darwin, perth, melb, or nz that meets my criteria them I for one would like to hear about it.”my bad.
I thought it would have to be worth at least a mil devoloper said 25 blocks per 5 acre lot at say aprox 150kea thats 3.75mil.
Coreyjay
Or i could do it myself have to wait and see.
Coreyjay
Name your price Do you want to sell? How bad does the developer want it?
Corejay’s idea of price couldnt be of importance to you, when you are trying to work out fair price. its only important to you so you can know if a good deal is to be had.
[/quote]
Grossrealisation, I think I know what harpeau is getting at… I am guessing that you are going to do up a quick reverse static feaso for coreyjay starting with GRV and whittling down to max bid. But none of the numbers involved require the input of the vendor’s opinion on price unless perhaps you are going to do an NPV calc… but you would presumably use the max bid from the static feaso as purchase price at cf0. You might say that in these calcs the only point in seeking vendor opinion is to determine bonus profit on top of the developer’s expected return!
To borrow an analogy, the only reason the jeans vendor doesn’t ask the buyer what price they have in mind is because they don’t understand the decision making process the buyer is using.
My suggestion is that since grossrealisation is in this forum (like everyone else) to share info and help, the request for vendor opinion must be for the purpose of comparison and advice regarding how close to or far off the mark the vendor’s expectations are.
Harpeau, if you are really concerned you could always send coreyjay your own reverse feaso and let him/her go from there…
Bob
[arrowhead]Just found out that there is a meeting this sat with the developers and residents i also here lend lease is sniffing around.
Coreyjay
hi Bob Dobelina
I have read your post and it makes very good reading.It may come as a shock to a few but I do a lot of both land sub division and gross realisation lending.
I have sent coreyjay an email with a 18 million land sub division I am working here in sydney on so he can get an idea of the way to value this type of land.
when you are asked the value of any piece of land its value is (a) what you can do with it and (b) who wants it.
In coreyjay case (b) is not me and (a) hes working on.
I am how ever looking for 2c unit development site( and have not made that any secret and 3a commercial residential development site )if you find these then I would have a very strong interest.here to help
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