- HarryMarcusParticipant@harrymarcusJoin Date: 2012Post Count: 16
I hope you've all had a nice Christmas break with your families after what was another intense year I'm sure.
I dabbled with property earlier this year with a cheap apartment renovation in Parramatta, Sydney (which is now CF neutral and the only property I hold) and had aspirations of completing my first knock-down-duplex rebuild which were derailed by the ever soaring sale prices that we witnessed in the 2H of this year.
As I am relatively inexperienced (I am a corporate) I am keen to understand how I could go about looking for a potential JV in completing such a project in 2014 in Sydney's west (I have some preliminary numbers for a particular suburb which look quite promising).
I am keen to explore this as an alternative to expanding my portfolio of properties through a conservative buy-hold strategy as we have considerable savings (250k>) with considerable combined monthly income that we'd like to capitalise on prior to the inevitable coming along…… kids!
HarryTerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
Many ways you could do something like this. some are:
1. approach the owners of the property
2. Find someone to invest with you
3. Find a builder – you arrange a profit split
4. find someone to lend you money
5. you lend someone money and they buy it
6. Use a unit trust to invest.
etcHarryMarcusParticipant@harrymarcusJoin Date: 2012Post Count: 16
Thanks for your quick reply, Terry!
I guess I should have been more specific – I'm looking at either finding a like-minded investor (with more experience) to co-invest in a project. I assume this forum may be a hub for people who would be interested in such an arrangement?
HarryRichard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Harry hate to say most experienced investors would prefer to invest on their own so be careful as anyone who is interested may not have the level of experience you are after.
Yours in FinanceFreckleBlocked@freckleJoin Date: 2012Post Count: 1,680
You might want to look at Dereks model and have a chat to him. I wouldn't put all my eggs in one basket but it allows you to spread your risk by investing in his model as well as others or your own.
New Perth JV project coming – high profits & rent returns http://bit.ly/15h2HQF