Forum Replies Created
Hi Folks,
Coming to an end figure for a development site is dependent on what this particular developer can extract out of the site through ‘highest and best use’.
This will be driven by market demand in the area, types of properties already developed in the area, what they sold for, his or her creativity, new trends emerging in the area, etc.
A reasonable profit margin needs to be there for the developer to carry the risk for this whole exercise. 15% profit is probably the bare minimum, higher would of course be preferred.
Andrew’s suggestion is a good one, and if you wanted to generate your own figures there are cheap feasibility calculators out there that can assist. Industry standard seems to be Estate Master. Garbage in, garbage out applies, so if you are going to go through the exercise of determining value, make sure you obtain expert assistance.
Best Regards
QL
It's in the IT sector…
The statements I'm referring to are the claims made about company performance, culture, and such. These things are usually not put in a contract.
I agree, not much you can do.
Rgs
QL
Matt007 wrote:………. If I'm going into a legally binding agreement and paying someone $30K + to get me results I expect and demand proof prior to handing over a single cent.
Get everything in a legally binding written form that holds them to their claims. See if they'll do it. If not, ask yourself why.
Good luck.Well said Matt007, well said…
Thank you again for your replies I really appreciate them. Providing me exactly what I need…
Thanks Duckster,
Last few weeks have been hectic therefore the late reply.
Really appreciate your response.
I should have said that the family is INCREASING in size, so it's actually a good thing!
Rgs
QL
Zaffa, is that you again?
Wow, just read the above post.
These forums can attract some interesting folk can't they?
QL
Hi There,
Responding to a question posed earlier in this thread.
I purchased the 'Options Made Simple' CD by Rob Balanda. It is a good CD, however it really is a little basic (especially so if you already have your head around how options work).
Did I feel like I got value for money from it? No – it was too basic.
Would it be of value to the uninitiated? Yes, I believe so.
Is it 'worth' $149 or whatever the price was for it? No, I believe it's worth $30 to $40 tops.
Rgs
QL
An option is a right but not an obligation to buy a property for a pre-determined period of time.
The option holder has control (but no financial obligation) over the property for a fee (usually non refundable).
Options are quite common for large property transactions.
Beyond that, I suggest you Google the term and research from there – there's a few good articles around.
Rgs
QL
Hi Paul,
Thank you for your reply.
Apologies for the delayed response – I have been flat out over the last few weeks.
I just read another post (which you wrote on 30th January an hour or so after responding to my post).
Your model certainly gives food for thought…
I'll PM you to discuss further.
Rgs
QL
As quoted by Jenman
Bob Andersen wrote:" Well, there's no secrets offered here other than that Zaffar Iqubal has been twice bankrupted for failed business ventures and was, according to the authorities, also banned from being a company director in Australia."
The only piece of useful information that Jenman offers here is that Zaffar (whom I have heard speak) was bankrupted and banned from being a company director.
It may be worthwhile if contemplating dealing with SOP to ask the question "why was Zaffar banned from being a company director"? However what is so wrong with the guy failing in business ventures? Many people (successful and otherwise) have failed at business ventures!
Take Jenman's sceptism with a grain of salt. He's mainly interested in promoting fear, and using real estate agents who are Jenman certified.
And by the way, the course doesn't cost "up to $30,000" that is just garbage.
No issue with you Bob, you just put up the quote….
Rgs
QL
Talk to Dale Gatherum Goss in Melbourne. He is a trust expert and property investment based accountant. I’m sure he’ll help you setup the right structure.
Rgs
QL
Thanks Sue,
Appreciate your response. I had been searching the forum for around 10 minutes or so without finding the answer – so much appreciated.
Rgs
QL
Originally posted by Dr.X:To be honest when I interviewed my last accountant and solicitor, I didn’t even bother to ask what they charge, the fact that they were on the same wavelength as me was enough to sell me. [biggrin]
Well said – totally agree with that – price is not a major factor. Better to pay more for someone on the same wavelength….if however you’re paying a fortune for someone on a totally different wavelength – then ‘houston – we have a problem’. [suave]
I have two accountants!
One currently does my personal and company returns.
The other is a property expert giving me property advice.
I would probably prefer that one Accountant ultimately does everything, so might change this structure as my activities start ramping up
Rgs
QL
I will never forget the poor service my last accountant gave me when I sat down with him to go over my tax return details. Looked at me like I was a complete idiot. Absolutely no personality and no positive advice congruent with my direction. And massive bills to boot. Needles to say I have now moved on and am quite happy with my next Accountants.
I am in Melbourne and happy to give recommendations on my new ones (one does my PAYG and Company returns, the other is giving me property structure advice – and will probably end up doing everything for me). The latter – Dale Gartherum Goss – is brilliant, couldn’t recommend him more highly.
Rgs
QL
Thanks for that,
I met with Dale last week (and am now reading his excellent book – Trust Magic.) He suggested the best method was to find a suitable solicitor to set up the trust for me, and unfortunatly he didn’t have any recommendations on who.
So, if anyone has any ideas for someone in VIC (preferably eastern suburbs) that would be fantastic.
Rgs
QL
I last used Gary Cooney in Burwood, VIC for my property settlements. Very happy with him…
Rgs
QL
I can see it now – farmer Joe driving around in a Rolls! [laugh4]
The main negetive and I’m sure other people have found out is poor property management.
Once you have these details ironed out eventually everything falls into place
This is surprising given that the US is such a service driven economy – you would have thought someone would have sorted this out / tapped into this market ..
Rgs
QL
