Carly Crutchfield (CCorp)

Does anyone know when is Carly's next seminar in Melbourne is ?

Cheers

Learning 1

Hi guys, not sure if this post is still going….but I am really curious for feedback on this….I also did the home DVD course and it was really inspiring and well presented and full of information…..however, when I started to put into action what I had learned, the magical 20% was impossible to achieve….I had Mentoring support, however the responsiveness was not good…and the responses I received showed that the 'Mentor' knew less than I did and couldn't explain how to get the 20% return. So I decided to claim the money back guarantee (which I have to say was refunded without any fuss) and it stopped there….

The bank seems to expect the 20% so it must be possible I figure…

I would be really keen to know if anybody attending the course has learned how and where to get 20% in a real life example with detailed analysis and scrutiny?

I have to say that I was disappiointed with the outcome of my search…

Would really appreciate any feedback, both positive and negative!

Thanks,
Ben

Yep, nothing wrong with old school… old school is GOOD.

Ben you need that dogged determination to find the deal.  20 to 25% is minimum i would be looking for. There is deals around to problem i find is that people don't have the bravery to do it.

Hi Ben,
                 I too am new to the area of developments and had the same question myself aup until early this year until a mate and I sat down and looked through hundreds of properties all over Australia.  We looked closely at some conducting feasibilities etc etc. It is definately possible but you are right there are deals out there that don't stack up but people still buy them.

I have found that to get the ball rolling it is best to start off in areas that are a fair bit cheaper.  ie Satellite Citys. This keeps your initial cost down. Areas that I tend to look at are Ipswich, Toowomba, Ballarat, Bendigo, Burnie, Devonport, Launceston. These areas often have larger blocks that can be subdivided and developed.   In esscence by subdividing you get a block of land for around 20K.  The 20K being for subdivision costs. 

Where land is bought only I have found for a small development 2-3 units the figures do not stack up.  And the more units you put on the land (pending council zoning) the more risk involved for the bank particularly if you are small developer like myself.  My best advice to get started is to do a subdivision and put 2 units on the rear block or even a house if the figures stack up.

Banks are being very tight on developments at this point in time.  Another major hurdle is convincing them you have enough income to service the loan during building.  Which once again limits how many units quality you can build in turn affecting the 20% figure.

You could also consider keeping one if selling one gives you enough cash to start up another project.

My bank has mentioned that after this current development (I wish to keep them) I will have to reduce my debt somewhere along the line.  I have decided that I am going to sell one of my existing properties which is post war home.  The main reason for choosing this one (other than it underperforming) is that the depreciation benefit is no where near as good as it will be on the new units.  I will continue this process where require.  Sell older property to keep new property.

I have heard Carly talk about Option agreements which are great but hard to source when you are starting out.

Keep asking questions and talking to like minded people it is the only way to learn.  Michael Yardneys book is a good read and there is also a online Chapter 27 Developments which isn't included in the book. 

All the best.

Justin,
               From what I know she worked all but for free for a developer and just learnt and learnt and learnt off him as well as assisting him with finding deals.  I believe she ended up finding a deal and he bought it off her thus making a heap of cash to get the ball rolling……

Hi all

I have done Carly’s 3 day bootcamp and from there joined her Elite mentoring program 18mths ago. It has been exceptionally good. I have to say that I had some property development experience with subdividing, dual occ’s etc before I did the course that but I learnt about the importance of feasibilities and I have no trouble finding the 20%+ MDC sites. Having also done a property options course it is simply a matter of being able to talk with a vendor, to find out what the problem is and how you can fix it. If you can create the win/win/win situation for everyone, you will be able to make it work. I now have a 5x 3bd T/H site under option while I organise the DA. Knowing how to do a feaso, allowed me to show the vendor why it only worked at a certain purchase price. The other things I have learnt from Carly is how to be creative around financing the deal which may also allow you to create a workable deal where there was no deal.

Enjoy the property development journey and if I can be of assistance don’t hesitate to get in touch!

Hi Justine,

You can certainly do deals with no money down if you have other skills to bring to the table. There are many people who have money but no time so if you have the time to source and create a profitable deal for them, you should get paid well for your effort. There is a lot of work involved and you must be prepared to work hard and learn as much as you can as quickly as you can if you are going to do no money down deals. There are a lot of courses out there to choose from and you won’t learn everything you need to learn from one person. I suggest that you spend your time attending all the free and low cost property seminars that you can and decide what area of property investing interests you the most and then get to know that area very, very well. At some point you are going to have to spend money on your education, so I suggest that you put aside a set amount each week into an account so that when you find the right course or the right mentor, you can afford it. In the meantime, keep learning all that you can, take action on what you have learned as much as you can and have FUN! Dream big and look for the opportunities that support your dreams.
Cheers, Fran
P.S. One of the simplest ways to use no money is vendor finance. This is where the owner of the property you want to purchase, leaves at least the deposit amount in the deal. As long as you can service the loan at 100% finance this shouldn’t be too hard. Tips: You usually have to ask lots of vendors before you find one that will do it. You will need a good solicitor to draw up the correct contacts. Perhaps look at rural areas where the purchase price is not so high and find a property that you can add value to immediately to increase your equity. Hope this helps.