[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 22, 2010 - 3:32 am

Interesting article that in my opinion goes to two issues:
1 – in fairness, the safety glass was mandatory, and while I think a judge making assumptions on what people know and don't know is dangerous, the glass was made mandatory some 7 years prior to the incident occurring, along with the alleged break-ins etc. Ok, fair call.

2 – It goes to the responsibility of the tennants for their own actions and safety. Why should a landlord be responsible for someone else's actions, stupid clumsy or otherwise? This will have a nasty impact on landlord's insurance down the line. Just another expense that will ultimately get passed on to the renter and keep rent prices higher than what they could be.

Dangerous precedent to set I believe..one of so many at the moment.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 21, 2010 - 3:50 am

Trent gives good advice, and its nice to know there are funding alternatives to the banks here in AU, I laugh at them often, they restrict lending practices so badly no one can do anything and all of a sudden they're not writing any business, but blame developers for the woes of the property market.. Hmmm..

Anyway. A good lawyer and accountant are VITAL in this scenario, as the structures and methods used to get developments going can, depending on the size and dollars involved, become very complex. You need someone who's got experience in it already. If geographic location doesn't matter and you can transfer data electronically, give Trent's accountant a try, I know some very good lawyers in in Brisbane also.

Other consultants I think (personally) are very important:
1 – Town planner
2 – Surveyor
3 – Agent
4 – Builder/Designer/Architect
5 – Engineer (civil infrastructure)
6 – Broker/Funder/Banker/Investor

If you have those plus your lawyer and accountant in place, you'll have the foundations you need.

Best of luck!

Matt

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 19, 2010 - 10:04 am

Hi 4141…
on solicitors etc, definitely, get 'em on your team, A good lawyer, agent, town planner, architect maybe, builder, form relationships with them even if you don't have deals, let them know what you're planning on doing, initially it'll be 'ok we'll see if you do' but if/when you turn up with something, the people will be there in place.

On finding land, believe me people wish councils would disclose all the upcoming zoning changes etc, large developers spend a lot of effort anticipating this and landbanking as much as they can. again, I think it's worth forming a relationship with the local planning and development people. Not sure if they'll disclose, (or even know) whats coming up or not, but its worth a go!

Its about perseverance and patience. LOTS of both. You may have to 'nearly get' 100 of them before the one comes your way.. just keep going.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 19, 2010 - 6:31 am

Hi IDH
I also have a builder who could quote you, again in the Brisbane area. If not, let me know which area and I can hopefully refer you to one in our network.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 19, 2010 - 6:29 am

And whats the bet they won't be held accountable for doing so either..

What a joke.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 17, 2010 - 2:01 am

Welcome to the wonderful world of 'developing' and why developers won't pay big money up front until there's a DA through and they know they can do what they want with a site. That's the risk involved that many vendors don't grasp. Councils can be fickle, greedy, cumbersome and in some cases utterly irrational. Some can also be great and a pleasure to deal with. You just don't know.

Developers etc will use options or development agreements, with subject to DA clauses. In your case, you could offer to settle subject to approval of easement etc. All comes down to the deal and conditions and how you negotiate with the vendor, and your lawyers agreement writing skills.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 17, 2010 - 12:23 am

Much as I can't stand Massland or Mark Rolton, if you can get past the <moderator: delete language> sales hype and unrealistic dream selling, the core information presented is accurate although possibly a little dated now, and to be fair I haven't seen his latest efforts.

I have my old one. Again, if you can get past the blatant dream selling and inflated figures and so on, and pick the eyes out of the methodology and fundamentals, you can at least get a basic understanding of it. Be aware of the different and relatively new CGT and Stamp Duty requirements for options that seem to vary from State to State.

It won't (in my opinion) enable you to go out and do it straight away, there's so much more you need to know, and what's fundamental to it all (again in my opinion only) is the network of people/professionals you have access to. That's what I believe, after a few years of being involved in it now, is key to success. The old, 'not what you know but who' scenario. That, a thick skin and a considerable degree of patience and tenacity.

Use your state library also as there are some very good text books on options available, that are used to teach law students etc who are going into the commercial area. Also check out Mr Sigglekow's (spelling I hope is right!) website for some free info on options also which I found quite useful.

Look hard enough and the info you'll find on Roltons DVDs is available out there for nothing, and you won't have to sit through the NLP laden high pressure sales and BS.

Happy hunting.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 17, 2010 - 12:14 am

It'll all come down to the town planner you deal with, and what the surveyor/DA people you choose can design for an easement/access road. Without seeing a cadastral map or RPData map of it I'm only guessing, but if its a wide block (and at 2k m/2 I'd think it might be), you should have ample room to put something down one side, depending on the placement of existing house(s) etc.

Biggest cost would be road work/civil/gutters etc plus extending sewer and power back there I would have thought..

Give what ever council it is a call, tell them what you're considering, see what the feedback is. It should always be the first step in my humble opinion..especially before committing to buy/pay/go to contract etc.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 15, 2010 - 11:49 pm

I'd be more focussed on getting a working website before asking anyone to fund anything. No offence, but if you're asking someone to give you a break or funding, you need to make a good first impression, particularly if this is your first ever deal.

My 2 cents worth is this – forget web forums. Get out and do it in person, have your feaso done up in colour and bound, know your stuff, have your research there at your fingertips as to why they're such good deals, have your figures double checked. Put on your good suit and go talk to some people face to face. At very least on the phone first then meet face to face. You may be able to find a builder interested in one site, a funder for a DA for another etc, you can have one go towards paying for the other etc. Think outside the box. You may not be able to retain control of your first one or two, it may be a case of saying to an investor, you've found the sites, if they fund the DA etc you'll do a 70/30 or 60/40 split in their favour, and if they want to build that's their problem. I know a few groups who love to say they're in development, and drive their mates past 'their' project, but in reality they're the money while other people do the work. They're out there, you just gotta know where to look

That would make me sit up and listen and give a good first impression. Crazy Domains aint it. Sorry.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 14, 2010 - 4:11 am

Talk to any American who was in property prior GFC and they'll tell stories of lenders doing exactly the same thing, and in their opinion, these types of products were what contributed to the downfall, amongst other things, but in some states, like Arizona for example, there are still repossessions going on of people's houses because they borrowed more than the value of the property which then dropped…

On one hand I think great, the pendulum swing is coming back towards more balanced lending practices, on another I think its gone past the sensible point again..banks have gone from causing the biggest storm since the early 1900's (rant opinion of mine) to complaining that whole sale borrowing is costing them so much more while posting 20% increase in profits (Hmmm), to now realising overly stringent lending practices, especially where development is concerned, has slowed building and development to a crawl, Oooops! Hang on, if we're not lending we're not making money! Bugger! Better start throwing money out there again to recoup! After all, all we need to create more money is the promise to pay it back! Woo hoo!  

'course its only my opinion …

Super Profits Tax for the Banks I say!

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 8, 2010 - 1:28 am

Sorry, not sure I understand what you're asking. An Investors help stage?

If your'e asking what can she do to attract an investor etc I'd suggest doing the research I've suggested above First and foremost. Without knowing that, an investor won't have anything to work from. And to be honest, if the land is in the middle of nowhere, with no demand for the subdivided product either as land or fully constructed, why spend the money on it? The time simply may not be right to do anything with it. Sure its a big block but then so are half the farms around the place, and you can't do anything with them.  

Thats why I say, do the research first, see what you can and can't do, talk to council and real estate agents, whether it will be worthwhile anyway, THEN you can start to worry about finding an investor etc. A DA cost is a 'how long is a piece of string' question, dependent on all that above information, plus a whole lot more. It could be $100K it could be $500K. The research I've suggested above is free other than the cost of a few phone calls.

If there's no demand, the yield of subdividable lots is low due to the zoning restrictions, then there's too much risk involved from a) selling it, b) funding it, and c) paying for a DA. Investors simply won't want a piece of it if those three things are present. There is so much stock on the market right now in good areas with lots of demand, investors can be very choosy about what they put money into. Believe me, I've put some projects in front of investors with over a million bucks in holding income, and they STILL baulk at it based on bad experiences years ago. It is not an easy game believe me.

Do the research, then if you like, come back to me with the answers and I can give you some more clear information on what may or may not be able to be done.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 7, 2010 - 11:01 pm

What you need is email or information from real estate agents saying "yes there is demand in the area for this type of product" whether that's land, houses or whatever. You then need to speak to Council about what can and can't be done with the land. I've spoken to so many vendors out there who say "oh yes this can be done" but Council says "no it can't".

It'll be attractive if:
* there's demand in the area greater than supply. If it's not surrounded already by development, or has it going on nearby, then it may not be so attractive.
* once there's a DA attached to the land. Without that, its just land.
* the agreement you make (if you make it) has enough time for people to pre-sell land (banks won't fund unless you do these days so you need to expect to be waiting 18-24 months under some form of development agreement or option)
* you'll also need to look at surrounding infrastructure, roads, schools, transport, so on and so on, if its in the middle of nowhere, not so attractive as it'll cost millions to get services to the land.

Don't have the expectation for big money up front. Won't happen. This is a long process dependent on council approvals, demand, funding, pre sales, so on and so on. I'm quite happy to look at it and pass it on to people I know once you have the above information.

Hope that helps..

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 7, 2010 - 9:25 am

depends on what zoning the land has, what the demand for land in the area is, or whether its for developed land and houses, depends on what council wants, etc etc etc. All this is info you'd have to take to any potential investors. I'd suggest 50/50 would be about right for someone funding it all, depending on if its through to DA or further for actual flat land development etc. Be aware thats all time consuming, it will not be a quick settlement or payout. There's many ways of putting it together too. If you can put together the above information, send it through, I may know a few people depending on end vals etc.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 5, 2010 - 6:16 am

yeah I don't know that I'd be giving away considerable splits of the profits if I'm taking on all the risk of the DA/legals/marketing etc. I'd pay the finders fee and a success fee if the option was negotiated for the terms I set out, on settlement or onsale of the option, but I don't know if I or anyone I deal with would enter into much more than that.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 3, 2010 - 6:35 am

Thats what I thought.. gets a bit expensive if you're trying to secure options for $1K or $1! As some would have ou do or try..

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 3, 2010 - 6:00 am

Freeenterprise – good question about Buyers Agents, I'm curious to know how you think this would work given someone's desire to get an option over something, when this isn't a formal contract, and there is no commission payable until (or if) the property itself settles? I know when I did go through massland it was a very 'anti' agent although occassionally you 'did find a good one'…

I would think using a Buyers Agent would have to involve some form of a JV or agreement about payment on successful 'acquisition' or signing of an option or on settlement/onsale of the option. I'd be open to it if the structure was workable.

Cheers
Matt

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 2, 2010 - 4:19 am

jhk…you make a fair point. The people I've heard from include people who used to work for Massland and Mark directly. I've also heard from, as you say, people who've had problems and experiences with them.

I tend to work on the theory that (social proof not withstanding) the more people saying the same thing, independent of each other, over protracted periods of time, tend to lend some validity to what they're saying, generally speaking. Maybe that's not the right approach, I've always maintained I'm happy to be proven wrong. As yet, that hasn't occurred, but you do make a good point which I humbly concede, it would(ve) been more beneficial to go public a long time ago, as I'm sure others would/could/should have.

And to answer you, I am going off my own back these days, got a ways to go, but I'm a goin.

Glad you liked the quote too How's the serenity.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 1, 2010 - 11:31 pm

I'm confused as to how ASIC would know about property holdings myself.. not to say they don't, but I've not ever heard of them being involved in any way shape form or retaining that kind of information. They regulate mortgage brokers, financial advisors, publicly listed companies and such, APRA regulate deposit taking institutions and now credit providers etc, so I'm curious how, why, or indeed if, ASIC would be actually retaining that kind of information. I know they allegedly investigate groups providing financial advice (see Jamie McIntyre's early days and problems with this), and they probably 'should' be regulating seminar spruikers also (although don't)..quite curious indeed to actually see 'said' reports of said 'squeaky clean' person. Proof is in the documentation as they say. My former profession always drilled into us, verify your source, if its B2 then you're good to go.

As for what I 'think I know'..therein lies the issue. I 'think' I know it because as yet, I've not seen any proof of claims made, anywhere, by anyone, at any time, so until its proven, I can only 'think' it…mind you I have recently hit the point of not giving a f*** about them or this any more. If people still want to give their money away I know a number of great charities that will benefit from your willingness to give tens of thousands of dollars away to provide food, blankets, medical supplies, not a lease on a porsche and overseas holidays.

What I know, is how many people have contacted me offline from here and somehow directly from their courses, with experiences about Conclave, the seminars etc and could I help them get their money back.. I've declined each time for the record. What I know is the responses I got when I went and spoke to the people who were 'friends' and 'associates' and so on. What I know is I don't like being abused and threatened as I was if I ever rang them again asking about said spruiker.

Thankfully, if i 'investigate my own relationship, I can peacefully and happily say, there is none, never will be, and unless or until such time as I have documentary, legally binding, verifiable evidence to prove all claims made, that will remain the case.

I stand by my original, and ongoing comments. Do the due dilligence. Ask for proof of all claims made. If they or anyone for that matter cant, or wont, prove it, ask yourself why. iF you still part with $15-30K, then what can I tell you. Suffer in your jocks.

Peace.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 1, 2010 - 10:41 am

Read this from beginning to end: https://www.propertyinvesting.com/forums/property-investing/creative-investing/4324169
Make your own judgement before spending the money.

[Matt007Member@matt007Join Date: 2008Post Count: 259]

September 1, 2010 - 3:11 am

Paul Davis is alright, he knows his material, but he's not the only good property lawyer in SE Qld believe me, and you should investigate the relationship between Mark and him a lot more for information purposes only.

As for RPData.. they're onselling at an inflated price. Simple. They pay a monthly access fee as a company for a certain number of logins, they then onsell them at a considerable markup. Individuals get charged a much higher rate.

Agree on mindset, especially when it comes to ethical business dealings and integrity. Call me old fashioned..