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

March 29, 2010 - 10:27 am

National Rental Affordability Scheme. Google it and you'll find both State and Federal Govt websites. Theres a LOT of reading..

I'm still trying to work out how to register as a NRAS builder/developer/provider….

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

March 26, 2010 - 6:17 am

Check out any reciprocal/double tax arrangements that may exist between NZ and AUS. Also check out the company requirements (as in who can set one up, what structure is useful there eg: company and trust etc), see what requirements their financiers have or if ours will finance there.

I think there are a few other threads on here about it. Do some searching… you'll find out what you need to know..

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

March 26, 2010 - 1:49 am

I think its only defamatory and slanderous if its NOT true.. and if these 'credible'presenters like Rolton would come and and prove or back up their claims, we'd all be much happier. the FACT of the matter however is that they refuse to, can't, won't or whatever. Any intelligent person would have to ask why that is.

As Wealth4Life says, SURELY with all the successful students and HIGH degrees of honesty these people have, there MUST be some people out there willing to say "Yes I have become Uber wealthy thanks to doing deals with mark rolton or carly crutchfield".

Bollocks. The information isn't new (again as W4L rightly points out), and nothing new has really been said. These spruikers sell dreams, not reality, and part fools (sadly including me at one point) from their money. It sickened me knowing what I know sitting in on one options seminar hearing what was being said, watching these people get so excited they were nearly crying with joy like FINALLY someone had shown them the light..knowing full well that the claims being made up on that stage were never going to be proven. I met one man who'd lost everything, his wife, his home, access to his child because he believed what he was told and gave it all up to pursue, believing he was going to be made wealthy. When confronted, the spruiker in question said "oh well you need to take responsibility for your actions its not my problem". If murder was legal that day…..Ive never felt such fury outside of a war zone before.

If you're an educator, say so, get up and educate. Don't say "oh these seminars are just childs play money for me I"M a REAL developer and I do deals EVERYWHERE and PEOPLE ARE LINING UP TO BUY FROM ME". the information and theory isn't the lie – in my opinion its the material used to sell that information that is questionable.

I don't know Steve, never met him, maybe never will, dont' knwo anyone who's done his courses or used his products, so cant' say anything about the man other than I kinda like his forum. I'd only comment to say one thing.. sure find profitable activities and with integrity and ethics, use them to your fullest ability…but with INTEGRITY and ETHICS also be carefu who you associate with lest ye be tarnished with the same brush.

Endeth the rant.

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

March 25, 2010 - 10:30 am

No problems. Glad it helped.

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

March 19, 2010 - 12:35 am

PM Me and I can give you some names and numbers..

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

March 18, 2010 - 2:44 am

A good property lawyer should be able to tell you but I would suspect it'd depend on the structure of the option and if any caveat has been registered with the titles office over the property. One for more legal minds than mine, but you can bet a bank would be fighting like …well lots of awful things really.. to get their security back.

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

March 16, 2010 - 4:11 am

Hi Christian,
Great idea and great of you to do so. I'm in the thick of a few things development – wise at present and would be happy to read review etc. I'll PM you some contact details.

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

March 15, 2010 - 10:49 am

Thanks Gents – just adding another string to the bow! have one or two guys I can start writing for P/T to begin and then who knows. fingers crossed!

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

March 10, 2010 - 11:24 am

No problems.. Where above I've said MCU.. this can also sometimes be a Reconfiguration of a Lot.. depending on zoning etc it could be one or the other, just another term for you to study 

Good luck!

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

March 10, 2010 - 6:29 am

Here's another one: http://clients.estatemaster.net/webcalculator/WebCalculator.aspx?logo=FORSITE.JPG 

Again, its only for informational purposes, it may not be entirely accurate but would give you a starting point..

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

March 10, 2010 - 6:28 am

Try BMTQS. I think it's bmtqs.com.au – they have a bunch of calculators down the side in the menu that could be a starting point for you..I think your main cost would be a surveyor and then a town planner to submit the MCU docs for you.. get a quote and see for sure..actually be safe and get say 2 or 3 quotes so you know if someone's having a lend

The BMT site may not address all your needs but would at least give you something to start with…

hope that helps.

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

March 10, 2010 - 5:28 am

DA is development approval.
MCU is material change of use (which would be probably more what you're seeking for subdivision)

Town plan will tell you waht you can and can't do with the land and what zoning it is. Theyre HUGE blocks. What region is it in? Regional or closer in?

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

March 10, 2010 - 3:28 am

Depends on so many things:

How big is the block you're subdividing

How many lots

Council infrastructure contributions

Consultants' fees

Are you just doing DA or going through to a flat land subdivision with roads etc

10K would be very light for a multi lot subdivision. Doing a 'splitter' or subdividing one block into to can cost closer to 20K than 10K. Depends on a lot of variables.

Good advice. Talk to a council planner, and also get a quote from a town planner for the DA/Subdivide.

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

March 9, 2010 - 11:15 pm

Hi Qlds007

Whats the PIL from ASC? I haven't had a chance to update on all this yet….

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

March 5, 2010 - 8:54 am

Never say die mate. Ever. There is ALWAYS a way to do something. Always. IT may not happen as fast as you want, or even how you want it to..but if you stay focussed, motivated, then a solution will come your way.
Use the time it'll take to get some capital growth in your home and reduce some personal debt to learn, educate, make connections witih people, stuff that doesn't cost much if anything to do. As long as its something that contributes towards the end goal. Keep asking questions, there are plenty of people on this forum with bigger brains than me who may well know of ways and means to get you there. No such thing as a dumb question in my book.

never admit defeat. Defeat, like treason, is all about timing and perspective… think about it.

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

March 5, 2010 - 8:04 am

Gday Boogz
Mate I'd never discourage anyone from giving it a go. If the research backs the area you're considering, and you have the legal, time, and financial resources, plus enough marketing contacts and consultants to do the DA, then go for it. Yes they do take a lot of work, sometimes they come off easy a lot of the time they don't come off at all, but if they were just 'the standard' everyone would be doin them Its risk vs reward and payoff etc.
As you say, start somewhere. You could even try and look for a simple block to subdivide, use an option to do that instead of a big land subdivision or DA. Start small. And yes (although i'm goin to be stubborn and say it aint his catchphrase either ) and agree that you never go broke making a profit!
I certainly wasn't trying to discourage you (or anyone) from doing options. and by no means do I pretend to be the most experienced at them here either. My intention is bring a dose of reality to it all, make sure people are firmly based in the realities of the situation and not caught up in marketing hype.
Maybe a simple buy hold renovate and refinance is a good start.. or vendor financing… or flipping.. lol .. point being is there's a ton of strategies out there.. there will be one that suits your circumstances and goals. Just make a start, do it smart, and go upwards from there.

Keep posting, and us posted.

Cheers!

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

March 5, 2010 - 3:43 am

Hi boogz
ok first things first, correct on Rolton. Grab one large barge pole, use to distance, repeat. Do not touch under any circumstances.
Next, yes in 'theory' the process is that simple. Its the complexities that are a great deal more complex than Rolton or other seminar salespeople would have you think.
the issues arise (and happy for others to correct or add to this list as well) in a couple of areas:
1 – locating an appopriate site: depends on your sector, but convincing a vendor who knows what he's got of the 'benefits' of using an option that in Rolton's model doesn't benefit the vendor in any way what so ever, is challenging to say the least. Options in and of themselves are complex and fluid documents, that are different for each deal (outside of the basic Call, Put, or C&P combo). Conditions and structure are where the devil and detail come into play. That said, they are a commonly used, and powerful tool, but a $1000 refundable deposit for a 24 month option? I suppose anything is possible if you find a vendor who's ignorant of what they're sitting on, but I would encourage you to operate transparently and ethically *(only my personal opinion and standpoint, I don't pretend or imply I speak for others).
2 – At present, banks/funders are KILLING developers of all sectors and sizes, including large property funds. There is not a shortage of DA stock out there across multiple sectors including resi, comm, industrial etc. Its about finding a deal that stacks up, and finding a developer who's a) willing to take a punt, and b) has the funds to do it. THAT, in the current marketplace, is a BIG challenge. Most are looking for that 'golden egg' site that minimises their risk as much as possible. Choose your sector, region, site and so on very carefully.
3 – Finding a vendor who's willing to wait 18-24months for their 'possible' payout. Most vendors, fi there's an agent involved or its on the market, want money now now now now now now. Many are resistant to waiting that long, or operating under developers conditions (subject to DA/development agreement etc). This needs to be explained in some detail to them, as many simply don't know. Not their fault, and circumstances will vary with each vendor. Sure anything's possible with persistence, and the reality of it is, if they want to sell to a developer of any flavour, then operating under those conditions is a non negotiable factor in the contract side of things. Sure, again, you can structure it with phased payments over different completed stages of the DA, you can to a JV or any other variation. So one message to take away is this – find a knowledgeable and experience solicitor who's done this kind of thing many times before. I know a few, they may know a few in Perth, can't say for sure yet.
4 – Persistence. As some would have you believe, finding options and having pie eyed vendors who's attention and compliance you can grab simply by offering more money is not as easy as picking daisies in the field. It is time consuming, frustrating, and you will sometime face verbal abuse from vendors. Seriously. They either don't understand, or think you're trying to rob them somehow. Its again not their fault, but we all handle that in our own way I guess.. and yes, some are just ar$eholes.
5 – Cost – only my opinion, but having something like RP Data or PDS live is a very important key tool to have. Can it be done without it? Sure, but it complicates things further not having that RP information, including price, vendor details etc. I use RPD myself and find it invaluable.

All in all, can it be done? Sure thing. Just don't fall into the NLP laden BS seminar spruiking circuit like some have. Stick to the real world, talk to agents, developers, lawyers, town planners etc. Expand your network, write out who you need, and why, and where. Plan. Research. Be patient.

Good luck.

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

March 4, 2010 - 2:54 am

Only an opinion but CC only has positives for banks. Not borrowers. I'd never, ever, ever do it. Ever.

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

March 2, 2010 - 6:13 am

[/quote] All useful info. Thanks duckster. Do people normally go to these public website for most of the sources for development sites? Someone says some of the deals are made off-market. Anyone knows how to get access to these deals? [/quote]

Correct – most 'good' deals are obtained through developing and maintaining a relationship with either a good agent, or by going out and speaking to vendors directly and yes they do occur quite often 'off market'. This takes research, time, effort. Its not an easy or simple job to find good development sites. It will require you to go out and talk to people, read RP Data, look at maps, get your town planning knowledge sorted, have a plan. Identify the agents that deal more in development rather than 'retail' real estate (eg; selling houses). The issue is a LOT of people are out there trying to do this same thing, and until you actualy demonstrate your'e willing to make the effort and more importantly (to them) spend money, you'll be in with the rest of them/us in trying to get to these deals. Its a tough market to be in.

Good luck!

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

February 24, 2010 - 5:46 am

Depends on if you're going to do the DA yourself, or have someone buy the lot subject to acquiring a DA etc.

As far as what price you could ask of a developer a few things to keep in mind are:
1 – Developers will not pay you anything until they know for sure, either via a successful DA or close to it, that they can do what they want with the lot. Times have changed and big non refundable deposits are a thing of the past. Settlment subject to DA either under and option or development agreement would be a most common approach, so be prepared for those terms. You're far more likely to sell if you're flexible and patient, and realistic on what you can get for it. DAs at present for more complex developments are still in the range of 6 months + depending on the Council and region, often 12 months +, so again, be prepared for those kinds of timelines. you can structure the settlement a 1000 different ways with progress payments in line with varying stages of the DA etc etc etc.. a good property fluent solicitor is key here. I do know one or two of these guys if that helps.

2 – What an agent tells you you can get, and what a developer will pay, are often different. Another possible suggestion would be to pay a valuer to come and do a valuation based on the land having a DA for townhouses etc, but you'd then need a surveyor to give you an approximate yield on the land. That is, how many townhouses could you get on 4000m/2 once you factor in green space, car parking, set backs etc etc etc.

3 – Don't be greedy. At the moment the biggest issue for developers is funding. Banks are looking very closely at yield/GFA/margins etc and if your price is too high, the builder/developer won't be able to make the feasibility stack up and you won't sell it… sure you can get more than what the land is worth 'as is' but ONLY if it has a DA on it. Trying to get too high a price without the DA is trying to sell the sizzle without the sausage and the market is astute enough these days not to fall for the marketing hype.

If you'd like any other ideas, happy to chat via email or PM. I know a few developers myself, so if the site stacks up might be able to get some feedback for you..not 100% sure but am happy to see what I can do.

Hope that helps anyway.

Matt