Hi All,
I havnt been on here 4 a while.. Been busy buying our first reno and building a Unit in our backyard, Everything is going great Gunns..
Also bought a Block of land to Develop mid next year with 2 units but had a bit of a delay as the developer went bankrupt so the adminastrators had to finish it off but whilst it was getting finished off thats when we jumped onto another deal and because its taken a year to finish the subdivision (still hasnt settled) it has gone up around 15k with only a 3k deposit and is also 100% fininced…Just wanting to know how to attract some investors into a deal. I have a Great idea on the property market in most places now and also worked as a Real Estate Agent for 2 years to get to know the ins and outs of what needs to be done and how..
I often come accross a few Deals that i would love to jump into but obviasly the money side of things can hold us back. So i was wanting to know the best way to appraoch investors/banks/ Builders etc to be able to get deals done and Develop Full time..
Like what Donald Trump does if he finds a great deal he will get an option on the property do the plans up etc and go hit the banks and other investors.. I know im no Donald Trump but im sure there is a way to do what he does on a smaller scale.
Any ideas let me know..
Matt Hooper
hi matt
as I have not been here for some time and was just pasting thru.
you have got a couple aof little problems.
1 asic don't like you to advertise(unlike in america) so you have to keep well with in the 2 20 rule and also try to stay away from the managed investment scheme rule also but having said that there are ways that you can get investors to join in to do a development but they have to be sophisticated investors and there are a few hoops to jump thru.
you can always get friends or others to invest with you and there are site that do this co invest is one that comes to mind and the equity market is another.
I can't tell you how to get this system in operation as it would be seen as giving advice and it couple throw me over the 2/20 rule.
I piece of advice I can give you is that all that glitters is not always gold and because a deal does look good unless it has a 21% margin its not going to get any lender excited and even at 21% currently they are not jumping over everyone to get to you.
so its not as easy as you may think but that just my view.
hope it all goes well
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