Hi my name is karan and am looking for JV partner in executing splitter block strategy in property investment.
Strategy:
Buy big block of land = $500k
Get DA for subdivision for 2 blocks = $70k
Contigency, holding costs = $30k
Sell each block = $330k each (after selling costs)
Total investment = $600k
Total return = $660k
JV profit 50-50 share = atleast $30k each (or best case $50k each)
Investment period = 3-6 months.Please contact me if you are interested. I am also open to other strategies subject to mutual agreement.
Regards,
[email protected]
0430475700-
This topic was modified 7 years, 10 months ago by
kgv2015.
I reckon 10% is a low profit margin…
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
I couldn’t agree more, rule of thumb on developing is 20% atleast. I did a mistake, revised estimates below. I have more detailed feasibility study for interested party.
Buy big block of land = $500k
Get DA for subdivision for 2 blocks = $70k
Contigency, holding costs = $30k
Sell each block = $350k each (after selling costs)
Total investment = $600k
Total return = $700k
JV profit 50-50 share = atleast $50k each (or best case $70k each)
Investment period = 3-6 months.What area state would you be looking in
Hi little lot,
I am looking in Brisbane region, actually have couple sites in sight at the moment.
I have enough equity in my PPR but bank wouldn’t give me line of credit to withdraw that because am on single income, wife is off work due to new born.
Therefore I can’t do JV right now, but if someone wants to finance the deal am happy to do all project management for agreed fixed remuneration.
If you are interested I can give more details of the entire deal, thanks.
Hi Karan,
If you don’t have the ability to borrow from the bank you are basically asking someone to hire you just for labor only?
How many property development deals have you completed?
How many block split deals have you completed?
Why would someone hire you to do this labor with no experience??
Hope you understand my questions are trying to be helpful and not hurtful.
KGV, why not do it as a Nodoc Non coded loan (No income evidence required) using your PPOR and the project as security.
Rate will be higher but you will retain 100% of the profit rather than sharing it with another partner.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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This topic was modified 7 years, 10 months ago by
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