Forum Replies Created
Yes I have had several advertising packages quoted to me by Agents. I do believe in investing in good quality 3D images to give the prospective buyer as much visual information as possible. When the time comes, I will also have a display board at the agents office which will have samples of the tiles, flooring, colours, brick, roofing etc. This gives the buyer something to touch and feel and also better visualize what they are buying. Also addresses of other recently finished developments that the builder has built and even get permission from the current owner to have the prospective buyer look through.
Data Subscription is a great tool, and should only be the start of a developers research. I like to hit the pavement and look at open for Inspections, check at the finishes, proximity to amenities, and talking to many agents. This in conjunction with the Data will give a more accurate picture of the End Sales prices I may expect in the current market, than just relying on the data.
Regards
John
Thanks everyone for the input, it has definitely given me much food for thought.
Having said that I think at this stage I would probably consider the sliding scale approach.
Also does anyone know whether marketers only deal with large developments or also cater to the small developers ie. 3-4 unit sites.
With their pricing I have read that they do charge higher % as "Scott No Mates" has pointed out, but I also understand that they cover their own marketing costs. Anyone know much about this?
Thanks!
Not sure entirely what you mean Richard about financing the deal on the 1 title. What I can tell you is that I purchased the site cash and will be borrowing against it for the construction loan.
Great input guys!
Where can I find examples or more info of incentives used by others to sell their property?
Also are CASH offers to agents legal?Hi All,
Thanks for the responses!
In regards to what i have to bring to the table.
I have subdivided 2 blocks of land and built units on it with a builder friend, where we did most of the work.
I have also renovated countless period houses.
I now want to do less physical work and focus on how to find the best deals where i can purchase a property and do cosmetics and onsell.
It is difficult at times to do all this on your own. With a partner there is someone else that can bring other qualities to the table and also there is more purchasing power with two people contributing.
So I guess what i am looking at is someone that is actively investing, and doing what i wish to do, and that is buy at wholesale and renovate and sell. This will give me the cashflow to be able to keep the next two buys etc.
I understand that all this info can be obtained in books and i have read countless books, but there is no substitute for hands on I believe.
I guess its like the countless number of property investors that pay top dollar to attend property investment seminars, yet very few take it to the next level, or act upon the knowledge attained.
Knowledge without action is useless.Regards
Thanks everyone for your generous input.
I must say that i have read many other books from other authors but never any M.Lomas.
I shall make it a priority to get some of her books.
Im located in Melbourne and have not heard of the Active Property Network. Shall find out more about them and attend their meetings.Hi All!
Yes I do believe that there are +CF properties to be sourced if investors become creative in ways to receiving high yields.
I have found a few, but what suits one persons financials does not necessarily suit another.
Because i chose to leave work and dedicate my life to purchasing investment properties, I have no choice with the banks than to borrow thru a Low Doc Loan. This means that any borrowings would be at 8%+. So even if i purchased a property with a yield of
10%, it would still be negative geared assuming I am putting no money down on the deal.
So my dilemma is that although i can source properties for 8-9%+, it still isnt enough. I understand that after a few years it may ell become neutral or positive, but I need cashflow NOW!
So even by becoming creative and adding value to the property to increase the yield it would still mean that i have to borrow further thus increasing my mortgage.
I can put money down on the purchase but this would limit the amount of properties that i can accumulate in the future.
Can anyone enlighten me on other ways to turn a 10% deal into a positive cashflow????
The only other way i can think of is to have a tenant that is willing to "rent with an option to buy", this will then give me extra money each week (rent plus weekly deposit on purchase) but im not familiar with this method or how complex it is to set up or find such tenants?Hi all!
I would be very interested in reading the post that Jarrah has a link to on his post, but seem to be unable to view.
Would love is someone can email to me as for some reason i cannot access, it just takes me to the main page everytime that i click on it.
My email is [email protected]Thanks
John
