I’m New

You could let the agents in the area you’re looking at know that you’re after ‘development sites’ etc. There is no reason why you cant be cut in on the good deals too before they go out to the general market(if this is what’s happening). If you come across as serious and sincere of what you’re trying to do then you shouldn’t have too much trouble eventually getting what you’re after.

Hope this helps…G7

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

Hi Rayson,

When choosing a potential development site, one of the most fundamental things you need to know id what it will be possible to do with the site. If you don’t know this, you can’t do a proper due diligence. Therefore the first thing you need to do is to find yourself a good architect or draftperson, whio can give you some idea of this. It is also a good idea to find a town planning consultant and also to get a rudimentry (at least) understanding of the planning system.

Regards
Alistair

Hi Rayson

I am an REA and only sell development sites. My sites are rarely sold in the local paper, Here in Melbourne we use the Age on Saturday under vacant land or investments commercial. I also do developing so I understand your frustration 99% of REA have no understanding of development and the costs involved and therefore often in their haste to list a property list it at a price that is unrealistic. See if there is an agent in your area that seems to specialise in development sites. If so see if they email out the development sites to their clients (this is what I do) Explain to them what you are looking for so they understand what deals to pitch you. Once you have a few agents putting sites to you the deal of a lifetime will come to you once a week

good luck

Hi All,

I’ve found that some agents “get it” and others just don’t. I’m not sure if it is a personality “click or clash” thing or if it is some sort of REA strategy or just that some REAs listen and others don’t.

In my experience, the agents that I come back to are the ones who show me what I tell them I am interested in. Funny enough these are also the ones that are most likely to get a sale or at least an offer made.

Then there seems to be another group who I avoid dealing with if at all possible. They just seem to show me the things that they want to sell with seeming disregard (or complete misunderstanding) of the criteria I have outlined. They will then often put great effort into convincing me that this property would suit my needs. These are the ones who don’t get a sale or even a display of slight interest and probably consider me a “time waster”.

Although my experience is limited this is an observation that seems to be holding true for me so far.

Sonja