Forum Replies Created
Banker thanks for that. I just want to get back to my original post when starting this thread:
a. how to compile a financial application proposal for financiers?Now I also need to have a handle on the financial feasibility assessment which need to include the cash flow forcast before I can do a Proposal
See another post here: https://www.propertyinvesting.com/forums/property-investing/help-needed/4332638Surely this all goes hand-in-hand and the numbers must gel before I start with the DA application, even before I take control over the property.
Where can I go and knock for help?
Banker wrote:Will it be retail banking or commercial banking? let us know the following;
How many properties are you building?
a. What is the land value?
b. What are the construction costs?
c. What is the estimated end value? BankerStill early days – CBD redevelopment – subdivision and 3 dwellings
a. 700k
b. 270k x 3
c. 1.9m
RRP = 650k each but nor even sure about this!!
But I dont have an handle on all potential expenses – surely it will influence the proposal:
Total Acquisition Costs, Total Consultants Fees, All the Finance Cost, local Authority Fees,
Construction Cost, Legal, Advertising, Commission, Project Mngt. etcIs there a check list available? Pointers
Thanks for all the comments.
In a large multi-dwelling development surely you cannot monitor every step. Will you say then the key is clear directives when starting-up the project based on sound project management principles.
·Clear roles and responsibilities within your team
·Clear communication plan showing what reports to expect, when and by whom
·Provides a directive for the team when they engage
·Promotes professionalism and clarity which reduce riskThe project brief and project initiation document perhaps also need to show the holding points for review and delivery points before proceeding to the next stage.
Your thoughts!!
Where can I get help and at what cost? Those who have done it self where did you learn?
For my Feasibility Assessment I want to achieve the following –
Want to understand the different values, obtaining the costs and then for you to determine if it is in my best interest to continue with the development.
·Know my costs / profits before I commit
·Compare current opportunities with previous developments to show when I'm ‘on the money’
·Refine and compare my costs and selling price after each stage of the development to show estimate accuracy
·Provide clear decision points before I move to the next stageThanks all!!
Thank you all for the comments and Banker for sharing great points
If I dont want to work through a Broker initially who is the best person that can help to develop a compelling document that represents a development in the best possible way showing the financier that I know exactly the cost implications, risks and expected sales income based on fair estimates. Also:
·Enables me to approach financiers directly and negotiate directly
·Enables me to ask your financier better questions
·Put me in charge of your financial application and projectThanks all
Any comments or thoughts!!
RegardsAny ideas or comments from anyone on this forum….
Any other suggestions, contacts or pointers, please!
a. Where and how do you find property owners that are willing to participate in vendor financing
b. How do you built trusting relationships with those property owners
c. Do you involve real estate agents to find vendors for you and offer them the opportunity to sell after reno, subdvision or development
d. How do you show a track reord or reputation when you start out.
e. When you started out, how long did it take before you did your first vendor financing.What are the 4 most important points to do when starting out!
Thanks in advance for your comments!
Regards
ottgFound this company BCI Australia that also provide building approval information.
They also research and provide information on all building and construction activity in Australia, both public and private, from concept design to planning, documentation, tender and contract award to early construction.Thanks for the info. Made contact with Reed Construction Data (Cordell). They can help but charge $300 per search per month. Ooch….
I also did a formal application for access to information at the Planning Commission. Awaiting feedback.
Any other ideas from forum members?
Thank you for all your feedback! I will check it out!
RegardsHi CD
Thank you for the names. Excuse my ignorance but what does 6:P means?
Regards
Hi
I have personally coached various SMEs. However you get coaches and coaches. Ask them what formal qualifications they do have i.e business degrees? There are some with very dubious qualifications (4-10 day training plus 4-6 weeks in-house training). Coaching is based on asking relevant questions in order to make a business owner think about certain scenarios and realize his own potential that brings about internal personal change (internal locus of control). I personaly call myself a mentor/consultant/strategist because in my view, coaching is inherent to the process. There are many opinions about this subject matter. See http://www.centreforcoaching.co.za/docs/o_coach.pdf
Coaching is all about goal setting and keeping the buss owner accountable to work the plan. In short 'coaching' works (but so does project management) and I have seen improvements of 20% to 200% pa in businesses. I personally prefer to be more involved and at times prefer to roll up my own sleeves and help the business owner to make things work. Traditional coaches don't do it and the bussiness owner does everything himself therefore results will depend entirely on the owner self.I also prefer to use fixed methodologies, business models, check sheets and planning sheets in order to achieve results i.e things they teach in business schools. These include Business Profitability analysis, Business Valuation analysis, Industry Benchmarking, In-depth Business Assessment, Profit Improvement Strategies, Business Sales Strategies, Business Marketing Strategies, Team training and development, Customer Satisfaction Improvement Strategies, Business Innovation, Business Performance Measurements, Business Exit Planning
Regards & Hope it helps!
