Where to find serious investors ?

easternculture on 31/10/2013 - 00:59
Last edited 31/10/2013 - 01:30

Im looking at buying a land that is not zoned yet , but would be zoned in 5 - 10 years time R2. The land is ~ 15 acres.

The owner is looking for offers over $1 Mil but projected worth of land on today's pricing in that same area (surrounding properties) after zoning and developing would be $50 mil

Where would be the best place to find serious investors (Not interested in getting loan/bank money). Cant afford to buy it all and only interested in max 10% of the investment

Any recommendations would be appreciated.

Financial

Comments

  • Car-la-la on 31/10/2013 - 01:10
    +18

    to be honest those figures sound too unbelievable.

    if true, i doubt you'd be the only person interested or who has looked further into this plan.

    10+ years is a very long term investment to see absolutely no return , i think you'd struggle to get investors.

    if the deal was truly worth this much, i can't understand why you'd want other people onboard

    • easternculture on 31/10/2013 - 01:15
      -6

      if the deal was truly worth this much, i can't understand why you'd want other people onboard

      • Because i don't have enough funds
      • Because im not convinced about getting money from banks and paying interest and would rather have other people benefit from this investment than pay interest to the Banks
      • Because i have no experience in developing lands, nor have contacts in local councils etc
      • And because im not greedy and not looking to get rich. Just a one time investment and then hopefully retire for life

      I also know a person that recently developed a land in the area (Zoned R2) and made a heck of a load of money (8 figures). There is also another developer in that region that is developing a land but selling it as house/land packages (~ $600000 on a 375sqm land). The land im looking at is ~ 3km away from those

      • Car-la-la on 31/10/2013 - 01:31
        +16

        so if you have no expertise or real money to throw at the project, why would anyone want to get involved with you - as opposed to just doing it themselves?

        • easternculture on 31/10/2013 - 01:37
          +3

          Ive done the research of the area, current pricing estimates, contacted the council re zoning plans … etc. Next stage is negotiating a price with agent and preparing a proposal.

          You will find most investors would be more than happy to look at your proposal, its whether they think its good enough of an investment to buy in.

          I guess i have to start somewhere , no one is born rich

        • bargdebarg on 02/11/2013 - 06:27

          I don't know you but I wouldn't get involved with you for one simple reason.

          LEARN GRAMMAR.

  • Car-la-la on 31/10/2013 - 01:11
    +22

    ever since you stuffed me around with that iphone 4s deal your credibility has been zero in my book. i'd be very weary of doing business with you

      • [Deactivated] on 31/10/2013 - 07:37
        +2

        Check your private message box. However, without going into the details, most of the public think developers of land make heaps of money…If only they knew…

      • blitz on 31/10/2013 - 12:43
        +9

        im not looking at finding investors here

        Where to find serious investors ?

        ??????

    • The Quote Train on 31/10/2013 - 12:47
      +17

      I'd like to hear more about this iphone deal that went wrong. Lets air the dirty laundry.

      • camelgrass on 31/10/2013 - 15:29
        +9

        http://www.ozbargain.com.au/node/55039

        EC posted a deal that evidently became a dud deal. He/she did not have the courtesy to follow up or explain to OzBers and OzBargain administrators why he/she did not follow through with the deal despite numerous requests.

        EC was to make a significant referral bonus from the deal. Now he/she expects some investors to trust him/her and invest 100s of 1000s of dollars if not millions in a land development proposal.

    • Almost Banned on 31/10/2013 - 17:39
      +2

      While I am sure you are weary of EC I believe you should be wary of this deal.

  • subywagon on 31/10/2013 - 01:39
    +2

    Go to somersoft forums. It's full of property investors that may be interested or give you some good advice.

      • [Deactivated] on 01/11/2013 - 19:26
        +1

        How dare you disrespect Google like that… makes me sick.

      • auna on 03/11/2013 - 19:25
        +1

        It's the third result…

  • djones145 on 31/10/2013 - 08:28
    +6

    watch today tonight, they give you some suckers, i mean targets, i mean investors

    so the owner is sitting on a piece of land thats could be worth 50m in the future but wants to sell it for $1m?

    zoning is always a weird thing, very local govt dependant and also depends on relationships! should try to get a "friends" to talk to someone to confirm that this is the case

    • easternculture on 31/10/2013 - 09:32
      -5

      zoning is always a weird thing, very local govt dependant and also depends on relationships!

      Hence im looking for investors that have contacts/relationships in local govt and councils

      so the owner is sitting on a piece of land thats could be worth 50m in the future

      Yes , for that profit, land needs zoning and developing. Developing the land will cost money ~ 15 - 20 mil from the figures i got while researching.

      Its not a cheap investment but would potentially have solid profits

    • rmamila on 01/11/2013 - 14:05
      +1

      I think zoning business works well for you as long as you have friends in council or you know how to make them your friends. I fought for a rejection of planning permit for a multi level apartment building close to my home and was in residential area 1 (as I remember) which does not allow high density dwellings. However during the 3 months period we neighbors fighting for this, council officers even changed their zoning plan and published a new map in their web site and then approved the plan.

  • one man clan on 31/10/2013 - 09:02
    +9

    Unless your surname is Obeid, in 50 years time this block of land is still probably going to be worth $1m.

      • Geewhizz on 31/10/2013 - 09:54
        +8

        Not necessarily, and if it doesn't then you've still had to fork out for rates etc.

        • easternculture on 31/10/2013 - 10:53
          -4

          That particular area will, huge money is being pumped from the government for zoning. They are also building a rail line that extends from this area and work has started on a new shopping center and business park 5 km away.
          Its 1 km away from the R2 Zoned areas so its only a matter of time.

          Another advantage that its only 2Km away from 2 rail stations

        • Miss Dior on 03/11/2013 - 19:45
          +1

          Sounds strangely like East Leppington/Denham Court and the South West Growth area in NSW. Be wary. Residents are already fighting the govt on this one and the Scenic Hills will be protected by locals. Councillors who try to develop this simply won't last in the district, neither will politicians at other levels. Mansions are currently unable to be sold for about 50% of the price they were worth 5 years ago. Channel 10 is already onto the story - months ago they reported on it. Land in the area has been devalued significantly by the govt. More than likely the govt will resume it at a fraction of market value, when it suits them, so old timers with knowledge are getting out. There's a lot more to the story if its that land and I wouldn't touch it with a barge pole.

      • one man clan on 31/10/2013 - 09:54
        +5

        Ha

      • _Bruce_ on 31/10/2013 - 10:36
        +8

        This just proves you should NOT be investing in land.

        Even if the value remained stable, you have just lost large amounts of money on taxes, rates and lost interest.

        $1m will earn you 50K per year just sitting in a bank account.

        • easternculture on 31/10/2013 - 10:42
          -6

          you have just lost large amounts of money on taxes, rates and lost interest.

          You have to spend money to make money, nothing comes free

          there is ways around avoiding taxes/rates in unzoned lands.

          i also have a potential plan in farming parts of that area.

          if you read above, i dont believe in bank interest (money you dont work to to earn ).

        • _Bruce_ on 31/10/2013 - 11:00
          +7

          if you read above, i dont believe in bank interest (money you dont work to to earn ).

          Regardless of if you 'believe' in it, it is a factor of business. If you spend $1M today and get $1.1M next year you did not earn 100K, you earnt 50K.

          More likely is financing debt rather than earning interest, the same logic applies but at a higher interest rate.

          See also: Net Present Value.

        • easternculture on 31/10/2013 - 11:17
          -4

          regardless of your argument, this is a "potential" investment that will yield higher profits that having your money sit in a bank.

          1 mil in a bank for 10 years may yield a net interest profit of 500k , and investment like this may yield a net profit of over 30 mil (based on research on nearby developments 3 km away)

        • superbass on 31/10/2013 - 11:28

          agree here. or invest in shares with has high dividends and are not risky like CBA, NAB, TLS.
          ~7% return from dividends + franking credits + captical gains.

          It is often said in the deals like - When it sounds like it's too good to be true, it normally isn't….

        • T1OOO on 02/11/2013 - 19:24

          Hahaaa not even that. When you have to pay the capital gains tax on it uv really come up no better of at all ………. Some people never learn I'd be staying away from this with a 10ft poll. Needs only 10% more ? If you can't negotiate that with the vendor in this market you have no business buying it. Also chances are that it will never be fit to live in period due to soil pollution. I mean you have done a proper analysis of the land right ??? OFFCOURSE U HAVE!! Where do I sign ???

        • Lord Fart Bucket on 03/11/2013 - 04:42

          Ummm… Wasn't it 50mil at the start of this thread? Where has the 20 mil gone?

      • [Deactivated] on 31/10/2013 - 17:49
        +1

        FYI land never loses value and value goes up every year

        Am i dreamin' here or did i just hear you say that?

        Hey EC, please give me the details, so i can trump you & buy it all…

        Then i'll put a goat on it for a fee, thereby earning an income so that the loan will be deductible.

  • easternculture on 31/10/2013 - 10:45

    Nevertheless guys, this criticism in not getting anywhere.

    Like i said, i have all the little bits and pieces sorted. Im after advice on where to find investors and would like this thread to be productive and not discouraging

    • vietbargain on 31/10/2013 - 10:51

      unfortunately, it seems there will always be someone to criticise/discourage no matter how genuine you are

    • one man clan on 31/10/2013 - 12:23
      +5

      Just trying to dissuade you out of a potential loss. Get-rich-quick schemes are not a wise way to get rich.

      • easternculture on 31/10/2013 - 12:59
        -2

        Get-rich-quick schemes are not a wise way to get rich.

        This is not a get rich quick . Developing lands is harder work than you think.

        The initial investment is over 1 mil , developing the land is 15 - 20 mil

        Selling lots is the last stage - potential 90+ decent size lots ~ 500 sqm at todays price in that area ($800 - $1000 per sqm)

  • IMBI3 on 31/10/2013 - 11:37

    What state is it? Can you pm me? Thanks

  • isthisreally_me on 31/10/2013 - 11:48
    +2

    Place an add in the local paper stating same as your OP, youre sure to get plenty of millionare investors rushing to join you.

  • kwaker on 31/10/2013 - 12:18
    +4

    A fool and his money will soon be parted. If it were so easy to get 30m off a 1m investment then everyone would do it. The truth is not that you don't like banks its that banks won't go near you!

    • easternculture on 31/10/2013 - 13:03
      -3

      read above http://www.ozbargain.com.au/node/121266#comment-1664173

      its that banks won't go near you!

      Thats true, that is why most property development is funded by overseas investors (mostly from asia). I have rarely heard of a bank that funded a development through a loan.

      I do remember going to an one of those "buy off the plan" events for a tower that was planned of being built in the city (completion date 2018). Within the first 3 hours, 90% of the units had been bought by Singapore and Chinese investors

      Other channels of funding developments are government grants, but meeting their criteria is quiet hard unless you have contacts and channels

      • lisss on 31/10/2013 - 14:19
        +3

        Wow, that's just totally incorrect. As a banking and finance lawyer who has done a number of real estate transactions, I can say you have no idea what you're talking about.

        • easternculture on 31/10/2013 - 14:22
          -1

          Assuming you are only told on a need to know basis, can you further give input on the questions below?

          What was the max investment for your clients investing in property ?
          What is their background? Did they have previous transactions with the bank? Does the bank have any ties with the company? Any mutual vested interests? Does the company hold any shares with the bank? Does the bank hold any shares with that company?

        • lisss on 31/10/2013 - 14:27
          +13

          ETA:

          Good on you for pursuing an idea but you are way in over your head on this one, I have no idea where to start in correcting your assumptions etc in previous posts. Maybe you could get legal advice - I can't think of a financing lawyer who would be interested in even speaking to you though.

          I know that sounds negative, but I am being realistic.

          The only constructive feedback I can offer is that the best thing you can do is get a job that exposes you to property investment and development, real estate financing etc so you can learn more about how things work. In my opinion you have absolutely no chance of attracting investors or putting together a worthwhile "proposal" as you call it while you have no idea what's going on.

        • easternculture on 31/10/2013 - 15:28
          -3

          Did you read my posts above?

          Problem is most of you just post comments without reading

          As stated before, the purpose of this topic is to get advice where i can find Business Associates that have vested interest and/or experience in developing lands.

          I am not interested in developing this land by myself. I have no experience in property development.

          The only real construction comment that i found useful is here http://www.ozbargain.com.au/node/121266#comment-1664506

          So i dont mean to offend anyone and sorry if i do , but if you dont have anything constructive or positive comment, please dont waste your time posting here

        • lisss on 31/10/2013 - 17:26
          +9

          I did read your posts and unfortunately the content of those posts prevents me from being able to provide anything more constructive than my advice above.

          As stated before, the purpose of this topic is to get advice where i can find Business Associates that have vested interest and/or experience in developing lands.

          Why on earth would they be interested in working with you?

          (1) You say you have done research, but I'll bet that your due diligence can be replicated to a better standard within a half a day or so by someone with experience in the area.

          (2) You don't recognise or realise the extent of your ignorance, which to me rings alarm bells and makes you a risk.

          (3) If you need help raising $1m, you obviously don't have anywhere near the amount of liquid assets which might otherwise make you an attractive investment partner.

          On the basis of the above, I would recommend targeting people who are clueless about investing because you have zero chance of engaging an astute investor or anyone with the relevant experience.

          I don't mean to offend you either, and I'll cease wasting my time after this post. Procrastination is a wonderful thing!

        • Jojo-Ma on 31/10/2013 - 20:30

          Depending on how you look at it, and also in what context, why wouldn't people with great minds work with EC? He/She has all the qualities for a soon-to-be successful person:

          i) Fair enough, maybe EC is inexperienced, but he is only starting to get involved in this field of work, diligently.

          ii) Some very, very successful people just don't have the slightest capability to recognise their own shortcomings. There are people out there that would just give up after a few negative comments. Persistence people….come on.

          iii) How many successful start-ups would use $1m+ out of their own pockets to invest in their ridiculously impossible projects these days?

          Contrarily, sometimes its the clueless group of people that you would never get your funding from, they are just too skeptical to put so much hope into something intangible. However, it could take just one smart angel investor, who has the right connection and vision, to make a start-up successful.

          Of course, anyone who has the right quality to on this development will not need EC as a middleman.

  • [Deactivated] on 31/10/2013 - 13:10
    +2

    You're trying to compete against land holding companies? With 1 million? It's a stretch to imagine that your projected estimates are correct, but that isn't the biggest strectch. Your proposed capital cost to play the game has an incorrect number of digits.

    Firstly, it costs money to subdivide… a lot of it. Subdividing 15 acres will easily cost more than your projected cost.

    Second, 50 million is probably after you have developed the land. 15 acres of land in an established middle income area isn't even worth 50 million, let alone in an undeveloped area.

    Without going on and on, holding costs, lost of interest and oppurtunity, title transfers, surveyors and tonnes of other hidden costs are involved.

    • easternculture on 31/10/2013 - 13:24
      -4

      did you read my above posts?

      All of this has been discussed and explained

      To summarise:

      Offers over 1 mil for the land , 15 - 20 mil land development

      Potential 90+ decent size lots ~ 500 sqm at todays price in that area ($800 - $1000 per sqm)

      Most land developments usually sell part of land (in lots) of the plan at a discounted price to generate funds to develop the area and sell the remaining at an inflated price as land or house/land packages

      • [Deactivated] on 31/10/2013 - 15:17
        +11

        15 acres = 6.4Ha…

        Assuming land is flat and no other planning overlays, 10% normally goes to open space, 10% to roads, 10% for inefficiencies and 2% for drainage retardation. This gives a net developable area of, say 4.4Ha.

        At 500sq.m per lot = roughly 88 lots.

        Your biggest issue is the zoning. Just because an area nearby is rezoned does not grant you automatic change of zones.

        Good luck to you as you already outlined your weakness in this whole deal - you have no experience.

        There are so many assumptions and comments made that I can correct you on, but I won't - especially the bank funding.

        $1M does seem like a good buy though on face value for 6.4Ha. You'd probably double your money in next 5 years but considering the land tax, holding costs, council rates, stamp duty - there's not much meat left on the bone. There's also GST implications and/or capital gains tax to deal with.

        You are better off to rezone it (if you think you can), then flick it…

        Heard of:
        - payback period?
        - NPV?
        - Sales and Marketing costs?
        - Maintenance and estate presentation?
        - Peak debt?
        - ROE?

        I'll stop it here.

        • easternculture on 31/10/2013 - 18:03
          -2

          I have been told that their are ways to avoid land tax and council rates on unzoned rural land, is that correct?

        • [Deactivated] on 31/10/2013 - 20:17
          +1

          You can claim the council rates, electricity, water and similar expenditures as cost and will be deducted from your tax accordingly. However, you will need to be earning an income before you can tax deduct. That means if you have the property under a trust or a shell company, and you are just holding the land, you are not going to be able to do that.

          You also need to be aware that rural land is not agricultural land and vice versa. If you have a farming plot, you may be obliged to make the land productive.

        • microsnot on 01/11/2013 - 21:46
          +1

          Do you not have a taxation lawyer, accountant or lawyer you can ask simple questions like this?

        • [Deactivated] on 02/11/2013 - 14:57
          +2

          He is OzBargaining his financial advise.

          Btw, I have consulted with taxation lawyers and consultants. All I can say about them are, if you are lucky, you'll get a good one, otherwise…

          I ended up having to debate the merits of my accountant's ability with him when I realised he is out dated, poorly read, and my weekend of staring at legislations yielded more useful information than his time spent in university and 15 years experience.

          My 2 cents, don't trust anyone with your money. Learn the ropes or don't get into the ring.

        • Blockey on 04/11/2013 - 08:59

          By far the most accurate post in the thread.

  • ar993 on 31/10/2013 - 14:41
    +4

    Are you talking about Riverstone in outer West of Sydney?
    http://www.gcc.nsw.gov.au/riverstone-41.html

    • bich.light on 01/11/2013 - 20:51
      +2

      Maybe you hit spot on… he didn't reply to you :O

      Silence speaks louder than words?

  • Wildberry on 31/10/2013 - 14:54
    +2

    i have to Agree with all the Negative comments on this one good on you all

  • ntmango on 31/10/2013 - 15:33
    +24

    Good Luck with it mate. I really hope it works out for you.

    My uncle has property invested all over the NT and with all different zoning classifications. When he bought the properties, council was projecting growth to expand to his area within 8 years at the current growth rate. The growth rate actually doubled BUT zoning went in the wrong direction. Council changed their minds after another guy got elected and his property has stagnated since. Where as my dad bought an investment house in a dodgy area and it got redeveloped and his land is worth 4 times what he paid for it.
    I hope for your sake you have better luck but your putting all your eggs into one basket hoping the council will re-zone it.
    There must be a reason why the current owner wants to sell this land for $1mil+ when its worth a lot more. Maybe he knows something you don't about that area.

    When i helped do a proposal a couple of years back, our projections had to be pretty exact or as close a possible.
    Off the top of my head for example is 5-10yrs to re-zone - Why 5? Why 10 years?. What evidence do you have to back that up. The council mayor could easily say yes and it could be developed tomorrow and just as easily say no and develop somewhere else and that property will have to wait 20yrs.
    $15-20mil land development. $5mil gap is massive. Is the soil suitable or stable to build houses and necessary infrastructure? Roads, water, sewage, electricity? and the big one - INTERNET? - If its environment unstable with a lot of earth movements, pipes and structures will cost a lot more and insurance will go through the roof. Houses will have to built differently to compensate for the movement and cost a lot more just to be engineered.
    Environmental safe? Safe levels of metals and minerals? existing waterways and flood/drought prone areas?
    Protected Bush land and wildlife? Indigenous land?
    What shape is the property? If its uneven, then some blocks will have to be subdivided into funny shapes and the value automatically is reduced.
    You have to take into consideration inflation, interest rates and general economic conditions for costs and expenditure. Example, In the NT, we have the massive INPEX - Ichthys gas mining project which is great for the government but has caused a skilled workers vacuum towards them. A normal plumber, electrician or any other tradie costs twice as much to employ now. - That has a serious impact on any local other projects.
    If another GFC hits or we are in a depression, will you be able to sell of the land at projected margins.
    Also, is there enough road access to the property before and after development. Turning lanes, easements, resealing, extending council roads cost big $$.
    obviously you dont want to show all ur cards in a forum but its very high risk from the summarised info u have given.
    From what i learned in Business Studies in yr 10. Over estimate you expenses, underestimate you profits. Sometimes with a high risk project, its better to look at what you can lose rather than what you can gain. In ur case, you could lose everything everything everything if your investors don't get their return on investment, they go into salvage mode and anything and everything will be sold to recover their $.

    My advice, find something smaller to start off with, not a multi-million dollar 10+ year joint development.

    • lisss on 31/10/2013 - 17:29
      +4

      Excellent advice, your post scratches the surface of issues it appears the OP has failed to consider.

      • bich.light on 01/11/2013 - 20:55

        Sorry Liss… I accidentally clicked "Neg" :(
        I was meant to click +1!

    • easternculture on 31/10/2013 - 17:59
      -6

      Thanks man, some of the these have been covered and some haven't , couple of more things ill have to look into.

      Appreciate your advice and your long comment, unlike other people who have been wasting space in this thread .

      Would you be able to send me a copy of the proposal if its not confidential documents

      • kwaker on 31/10/2013 - 19:32
        +6

        You just don't like being told your wrong.

        • easternculture on 31/10/2013 - 19:39
          -3

          no, their is a difference.

          Constructive feedback rather than negative criticism.

          We learn something new everyday, nobody knows everything

          I mentioned many times that i have no expertise in this field

        • evol on 31/10/2013 - 21:15
          +8

          I mentioned many times that i have no expertise in this field

          You have no clue and yet you still want to take on this very high risk "investment" despite everyone's very logical and sensible recommendations & advice?

          People have given you plenty of constructive feedback; you're just highly ignorant. Let me spell it out for you: Do not invest in property if you have no idea what you're doing. You clearly have no idea what you're doing both from your own admissions and from the laughable (un)professionalism of all your comments.

          If you decide to continue on against everyone's good advice then I hope it blows up in your face like everyone has said it will - sometimes this is the only way stubborn people will ever learn.

        • PresidentClinton on 01/11/2013 - 11:21

          Vicarious learning. However for all we know, EC might have a lot of money to burn and is looking for a pet retirement project to oversee.

        • bich.light on 01/11/2013 - 20:56

          For his sake I hope it doesn't blow up with him being in debt of a million or more!

      • ntmango on 31/10/2013 - 22:19
        +1

        Sorry, i dont have a copy of the proposal as i only helped on bits and pieces of it and some of it was confidential anyways.

        Didn't realise how long my comment was, but i was trying to get my point across.

    • [Deactivated] on 31/10/2013 - 20:29
      +7

      "My advice, find something smaller to start off with, not a multi-million dollar 10+ year joint development."

      This is something that many people do not learn and end up squandering the financial legacy that is left to them. I know too many people from "old-money" who no longer have anything to show for it. I do not feel for these guys, but I am deeply saddened for their lineage.

      My father thought me a very important lesson. It cost him well into the five figures (thankfully not in the six). He gave me some shares and told me to hang on to it, not sell it, and just go along with the ride. I learnt what it felt like when the shares tripled, I also learnt how it felt like on days when it didn't look good. The company eventually went belly-up and I wondered what the hell was I meant to learn. I didn't get a verbal answer. Years later, I find myself basing a lot of my decision on the emotions of having all that money on the line.

      If you haven't lost ten thousand dollars in a blink of an eye, you are NOT ready to be investing with a hundred thousand dollars. You need to be burnt, not once, not twice, but many many times before you will succeed as an entrepreneur. Hopefully you get burnt out of pocket change, not your family treasure.

      • Scrooge McDuck on 31/10/2013 - 23:56

        "I find myself basing a lot of my decision on the emotions of having all that money on the line."

        You're doing it wrong.

        • [Deactivated] on 01/11/2013 - 13:35
          +1

          I've heard that one many times, don't base your investments on emotions. I play only one side of that coin, I use my past experience as scepticism, but I never let my emotions spur me into increasing my expenditure.

          So, you are partly right. To whoever believes they are completely objective about money or believes that financial objectivity increases your chances of financial success, chances are, we are not talking about the same amount of money.

          I can be objective about buying a half a million dollar investment residential property, but if you tell me to buy 10 of those, suddenly, even though it is the same investment, just blown up in scale, the thought process changes.

  • Devils Advocate on 31/10/2013 - 19:39
    +1

    At this point everyone has used up all of their negs on easternculture, so here goes…..moist, moist, moist, moist, moist, moist, moist, moist, moist, moist, moist, moist, moist, moist, moist!

  • ahly92 on 31/10/2013 - 19:59
    +11

    Ozbargain these days..!
    Love this site!
    U never know what u'll expect…from freebies to 4th place ribbons to cars and now multi-million dollar investment…makes u wonder what could be on bargain tomorrow!

  • Crownie on 31/10/2013 - 21:29
    +2

    I also know a person that recently developed a land in the area (Zoned R2) and made a heck of a load of money (8 figures).

    Then go to them with your proposed plan and see how you can make your own load of money.
    Too many variables and unknowns to make this work.

  • Belgarath on 31/10/2013 - 22:03

    OP, Id invest. My concern is what you say is true. Investing 10% into a potential risk is nothing. If the land cost me 2 million and you lose 10%, big difference.
    Then you post a bargain but talk nothing about any of the risks or really have done any investigation into this 'piece of land'.
    You sound like more of a dodgy african scamming money than an investor.

    (Happy to discuss further if you really are legit)

  • aerona on 01/11/2013 - 01:31
    +2

    I'll contribute $100, if every member contributes $100, we'll make it happen.

    • Jojo-Ma on 01/11/2013 - 03:52
      -4

      Well, we might just need the entire population of NSW (or maybe more) to be members of ozbargain to make the $100 per person initiative work, hah!

      • Scrooge McDuck on 01/11/2013 - 08:49
        +5

        Wow! Just wow! Your maths is appalling.

        $1,000,000 / $100 = 10,000

        There are more than 7 million people in NSW.

        • Jojo-Ma on 01/11/2013 - 15:12
          -2

          I was thinking in the context of making it work, as in, developing it.
          Oh well, the comment by aerona could have meant targeting the $1m, or $50m.

        • Scrooge McDuck on 01/11/2013 - 15:47
          +4

          $100 * 7,000,000 = $700,000,000 > $50,000,000

    • [Deactivated] on 01/11/2013 - 04:30
      +5

      Is there a discount coupon for this?

    • blitz on 01/11/2013 - 09:27
      +4

      Also we can get Officeworks to price match.

    • [Deactivated] on 01/11/2013 - 09:33

      It's not the $1M that is the issue, it is the working capital required to get the project off the ground …Please read up on peak-debt exposure…

      You will also need to throw at least similar dollars to get this thing rezoned if it can be rezoned - and if you get objections, expect heaps of legal fees and professional witnesses at NCAT…Which will drag out your payback period…

      If it was that easy to develop land, all the adjacent farmland owners would be doing it…

  • [Deactivated] on 01/11/2013 - 09:40
    +1

    Without hijacking the thread, how many of you guys on OzB are serious property developers/investors or are in the property development business? We should all get together and call ourselves the OzBargain Consortium and go out developing property and englobo land. Note: property development is my bread an butter with exposure in QLD, ACT and VIC (plus Dubai) and I have worked on some monster master-planned communities during my career…Private message me pls.

    • [Deactivated] on 01/11/2013 - 09:47
      +6

      I built a cubby house once.
      Does that rate?

    • Scrooge McDuck on 01/11/2013 - 10:42
      +4

      "Without hijacking the thread, how many of you guys on OzB are serious property developers/investors or are in the property development business?"

      By conservative estimate I'd say about 75 %.

    • The Quote Train on 01/11/2013 - 12:42
      +2

      I'm in. I don't know anything about property but I have capital.

      • bich.light on 01/11/2013 - 21:01
        +6

        Still better than EC.
        Doesn't know anything about property or have capital!

      • [Deactivated] on 02/11/2013 - 14:47
        +1

        By any chance you want to help me withdraw by bonds in Nigeria?

  • The Quote Train on 01/11/2013 - 12:43

    .

  • AlanHB on 01/11/2013 - 13:56
    -4

    I once had a client who sued the government for $50 million dollars.

    See the government was in control of his money, as he was deemed unfit to looks after it himself. They gave him an allowance out of the money every week or so, after it paid for his rent/bills for him.

    However he argued that as the government hadn't given him the access to this money, he had missed out on a serious investment. He was going to buy Rolls Royces and drive them back home, where he would then sell the cars for a total profit of $50 million.

    Not sure if this adds in any way to this thread.

    • lolmao on 01/11/2013 - 20:59

      u failed

    • Charybdia on 01/11/2013 - 21:53

      .

    • [Deactivated] on 01/11/2013 - 23:16
      +5

      You high?

      • AlanHB on 02/11/2013 - 09:23

        Nah it's a true story. Guess it just pops into my head every time I hear a pitch which involves a quick profit of tens of millions of dollars.

  • fchis on 01/11/2013 - 23:30

    try this
    http://www.pozible.com/

  • donbot on 01/11/2013 - 23:37
    -1

    You're looking to invest in a multi million dollar project to which you propose to be able to make millions, yet your searching for 'investors' on a tight arse forum?

    I'm using my best manners here, but your an idiot.

    As someone who works for a family who does something similar (only its rezones for factories rather than residential), your a grade a bonehead of you try and take something so big as your first venture.

    If your only just profitable on your first venture… consider it a win. Take away what you learn from your mistakes that first time you do it, research where you went wrong and cover back stronger.

    To try and do it first time… all your going to do is Make someone else rich when you fail.

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