Forums / Property Investing / Help Needed! / Wanting Investor or Mentor or Guidance

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  • Profile photo of GregBGregB
    Participant
    @gregbarlowgmail-com
    Join Date: 2017
    Post Count: 8

    Howard (Hervey Bay) Eco-Village
    Does anyone here know where or how to find people who can advise on new off-the-grid developments, on Council “preliminary approvals”, on where to find investors, and how to sell off the plan.

    I have 56 acres and all the paperwork for a 56 house eco-village development.
    The “Angel Investment” sites are a waste of time and money. I’ve never done developments before but have enough knowledge to project manage. At this stage i’m not looking for housing construction, just development.

    Looking for 1 or more younger people to take over the planning and finish the task in exchange for a share of the 7 figure rewards.
    $100K to $250K will do the job according to my Cash Flow projections but i’m struggling on my own and need some younger blood to guide us through.

    How do i find a mentor or investors?

    GregB | EdenEcoVillages
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    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    I’m curious – are you saying you are looking to do a development which only requires 100-250k (talk about a range to begin with) in development costs to divide 56 allotments?

    If you’re looking at finance you will definitely struggle in the current environment, with most lenders not wanting to take on first time developers at all – so you will have a limited range of funding partners who will consider this.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
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    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of GregBGregB
    Participant
    @gregbarlowgmail-com
    Join Date: 2017
    Post Count: 8

    Yes Cory, 100 to 250K is enough to take it ready to sell off the plan.
    Remember this is an eco-village and does not entail most of the normal costs of subdivided developments.
    A CTS will bypass all that.
    Once we get it to pre-sales, 1/2 acre for $35K or house and land for $150K+ should sell quickly.
    I note you are a funder.
    What do you know about preliminary approvals, MCUs, funding for CTS?
    GRV is around $6.7M and costs around $3.5M but i’m an old guy and struggling.

    GregB | EdenEcoVillages
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    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,729

    Hey Greg,

    Couldn’t you just engage a skilled town planner to run the project for you? Why does it need to be an investor?

    Regards,

    – Steve

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,729

    Hey Greg,

    Couldn’t you just engage a skilled town planner to run the project for you? Why does it need to be an investor?

    Regards,

    – Steve

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of GregBGregB
    Participant
    @gregbarlowgmail-com
    Join Date: 2017
    Post Count: 8

    Thanks for your input Steve. All comments and suggestions gratefully received.
    I’ve had meetings with many a town planner – here’s how they go –
    “$10,000 paid in advance to lodge your Section 242 Preliminary Application. $15,000 to lodge your full application for MCU and compliance with all Codes, 50% up front BUT if the Council comes back with something that we “didn’t anticipate”, then we will charge more.” (give us a blank cheque)
    Not the most professional consultants i’ve ever come across!!
    And my understanding is that they are merely consultants, and do not project manage.
    Naturally they would not pay any of the development costs so that’s what the investor is for.

    GregB | EdenEcoVillages
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    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,729

    How does that compare against what you might pay a developer under the basis you mention above?

    Which State is your project located in?

    Regards,

    -Steve

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of GregBGregB
    Participant
    @gregbarlowgmail-com
    Join Date: 2017
    Post Count: 8

    Thanks Steve. I’ve been away.
    Never having done developments like this before i’m at a loss and out of my depth.
    As a retired FCA with international marketing etc, the planning, costing, budgeting, marketing etc are the easy bits.
    Finding an investor is the tough bit.
    Ideas like ours is worth a fortune once finance is approved but until then it’s just “a good idea that’s worth nothing”.
    This is in Howard, Qld and is quite possibly the best location in Qld for an eco-village.
    Holdens have advised they will finance after we have pre-sales but in need to get to that stage first. $250K is more than enough.

    GregB | EdenEcoVillages
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    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,729

    Hi Greg,

    You’ll need to prove you have the reputation, skills and ability to pull this off. Money is attracted to good management.

    I think your best option is to approach your accountant to see if s/he has any clients that are interested in coming is a JV partners. That way you are leveraging off their trust and relationships, rather than forming your own.

    Regards,

    – Steve

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of GregBGregB
    Participant
    @gregbarlowgmail-com
    Join Date: 2017
    Post Count: 8

    Thanks Steve, but as i said, I’m a retired chartered accountant so i have to leverage off someone else. That’s why i asked for a mentor or guidance.
    Anyone had any success with angel investors?

    GregB | EdenEcoVillages
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