Bob Anderson, Billion Dollar Developers Coaching Program????

[Argyle Clarity]

What I meant by 'wholesale cost' is the cost of building the dwellings, once they are built they are valued at 'retail', that is, the market value of a newly completed property, the difference between those two numbers is the equity you have created.

In my case, I was fortunate in that my wife had an IP that had enough vacant land to be able to subdivide and build another two townhouses, which made the project that much more profitable. This also made me feel safer in the knowledge that I could probably make a couple of mistakes and still come out in front.

The course taught me the process (steps) involved in doing a development project and explained the roles of all the different experts you need to find to make everything happen. For a complete novice this was key information.

I spent $1500 on the course I did and in my case it was money well spent.

My next project is to knock down a house we have in Melbourne's eastern suburbs and build two townhouses, which will be more profitable than the first project.

But I'm fortunate in that we already had some property that could be developed. The point I am keen to make is that there can be value in education and not every educator is a trying to rip you off. The people like Dymphna who have been around for quite a long time must be doing something right or they would have been run out of town by now.

In the end, it doesn't matter how you learn, whether it is free or whether you pay for it, what matters is putting the knowledge into action.

 

[MTR]

$1500 better than $30 k

 

[cu@thetop]

What I meant by 'wholesale cost' is the cost of building the dwellings, once they are built they are valued at 'retail', that is, the market value of a newly completed property, the difference between those two numbers is the equity you have created.

In my case, I was fortunate in that my wife had an IP that had enough vacant land to be able to subdivide and build another two townhouses, which made the project that much more profitable. This also made me feel safer in the knowledge that I could probably make a couple of mistakes and still come out in front.

The course taught me the process (steps) involved in doing a development project and explained the roles of all the different experts you need to find to make everything happen. For a complete novice this was key information.

I spent $1500 on the course I did and in my case it was money well spent.

My next project is to knock down a house we have in Melbourne's eastern suburbs and build two townhouses, which will be more profitable than the first project.

But I'm fortunate in that we already had some property that could be developed. The point I am keen to make is that there can be value in education and not every educator is a trying to rip you off. The people like Dymphna who have been around for quite a long time must be doing something right or they would have been run out of town by now.

In the end, it doesn't matter how you learn, whether it is free or whether you pay for it, what matters is putting the knowledge into action.

Don't be so quick to reach that conclusion.

The education I have received from this forum is beyond measure.

I was in education for a few years between law jobs. One of my old clients razzed me with a quote that he attributed to Oscar Wilde: "Those that can do, those that can't teach".
If the seminar got you off your butt- then well done- but I note you had an IP already Argyle. Why not explain the pitfalls of your development for all to learn from?

 

[shangrilada]

I spent 350k on my Developers course and I got a return of 175k on my first project. I think those are the only development course you should sign up for.

 

[pinkboy]

I spent 350k on my Developers course and I got a return of 175k on my first project. I think those are the only development course you should sign up for.

Wow....they saw you coming!


pinkboy

 

[Argyle Clarity]

Don't be so quick to reach that conclusion.

The education I have received from this forum is beyond measure.

I was in education for a few years between law jobs. One of my old clients razzed me with a quote that he attributed to Oscar Wilde: "Those that can do, those that can't teach".
If the seminar got you off your butt- then well done- but I note you had an IP already Argyle. Why not explain the pitfalls of your development for all to learn from?

I'm not sure what your point actually is? Do you only value education if it is given freely? How do you validate that the information you are receiving for free is even worth having?

Personally I have no interest in teaching others, I'm not experienced enough to do it, nor am I that way inclined. I only contributed in this thread to assist the person that asked about Bob Andersen.

But since you asked - My biggest challenge was finding a builder that would build what I wanted for a price that made it worth doing. When I finally did get a quote that I was happy with and paid the pre-contract deposit, the builder was so slow and ineffective that 4 months later I still didn't have a contract. At that point I decided to pull the pin (lost half my deposit) and went and found another builder who was fantastic.

Long story short, from my limited experience, once you know the steps to take to do a development, the absolute hardest thing is finding the right people to do the work properly, in a timely manner and for a fair price.

Once you find those people hold them close.

With that, I will now step back into obscurity.

Cheers,
Argyle

 

[shangrilada]

Long story short, from my limited experience, once you know the steps to take to do a development, the absolute hardest thing is finding the right people to do the work properly, in a timely manner and for a fair price.

Cheers,
Argyle

Absolutely true Argyle. Learning how to develop is not difficult, anyone could google and research the process, make a few phone calls and get educated that way. The real money maker is finding the right people and connecting with those opportunities that yields 35% to 50% return. In my opinion anything less is a waste of time. I have all of these boxes checked but the one thing that eludes me still is having enough funds to take on these projects.

 

[MTR]

I spent 350k on my Developers course and I got a return of 175k on my first project. I think those are the only development course you should sign up for.

surely that is a typo

 

[MTR]

Absolutely true Argyle. Learning how to develop is not difficult, anyone could google and research the process, make a few phone calls and get educated that way. The real money maker is finding the right people and connecting with those opportunities that yields 35% to 50% return. In my opinion anything less is a waste of time. I have all of these boxes checked but the one thing that eludes me still is having enough funds to take on these projects.

Not sure why 35%-50% ??

I don't think I know too many people who can claim these % unless they were lucky enough to have purchased at the bottom of the cycle and road the boom while developing.

Certainly at 20-25%, if you pocket $150K net x 2 projects pa $300K I would not call this a waste of time. I know developers who have more than 2 on the go pa.

ROI should also be considered.

How many projects are turned over pa will make a massive difference to the bottom line

Larger projects - finance will be far more difficult to source and this could also equate higher risk and worse not able to fund projects, so you are stuck, no money whatsoever, as you pointed out.

For me I am not interested in reinventing the wheel - I like to follow, learn, network with the successful developers on this forum who have done the hard yards, been doing it for years through boom and bust cycles and have a track record. I have also had the privilege of watching them grow and its pretty bloody amazing, not to mention you make some good friends along the way.

Going to some workshops etc is not for me, sure they have a template etc etc. but I would much rather network with successful investors where we can get into the nitty gritty when it comes down to sourcing properties which lets face it is key to making $. Not sure any of these workshops is going to give you a clue about this.

Anyway, different strokes for different folks.

MTR

 

[shangrilada]

surely that is a typo

Nope, my "development course' was actually my first property development project on a R40 property.

 

[shangrilada]

Not sure why 35%-50% ??

I don't think I know too many people who can claim these % unless they were lucky enough to have purchased at the bottom of the cycle and road the boom while developing.

Certainly at 20-25%, if you pocket $150K net x 2 projects pa $300K I would not call this a waste of time. I know developers who have more than 2 on the go pa.

ROI should also be considered.

How many projects are turned over pa will make a massive difference to the bottom line

Larger projects - finance will be far more difficult to source and this could also equate higher risk and worse not able to fund projects, so you are stuck, no money whatsoever, as you pointed out.

even right now I have 3-5 projects with all yielding 35-50% ROI in 12mos period. One in particular would yield 35% in 60mos since it's DA Approved and ready to go if we want to take it on.

yup you hit the mail on the head, these are not your 2-4 townhouse projects. They are 6-12 unit projects, with finances being the only barrier.

 

[MTR]

even right now I have 3-5 projects with all yielding 35-50% ROI in 12mos period. One in particular would yield 35% in 60mos since it's DA Approved and ready to go if we want to take it on.

yup you hit the mail on the head, these are not your 2-4 townhouse projects. They are 6-12 unit projects, with finances being the only barrier.

But that is the point - 35-50% is meaningless if you can not source the finance, 6-12 apartments takes 12 months to build? are you sure about that one, I would guestimate at least 24 months for 6.

If you do not have a money partner then perhaps you could consider the smaller projects if you can fund these and @ 20-25% you are making money

 

[MTR]

Nope, my "development course' was actually my first property development project on a R40 property.

So you paid $175K for your course?? now I am really confused, if this is the case you are really scaring me

 

[S.T]

So you paid $175K for your course?? now I am really confused, if this is the case you are really scaring me

I think they're saying they spent 350k on a property and made 175k out of it. Not sure why they put cost as 350k, unless they lost 350k on the development?!

 

[Cassandra]

: "Those that can do, those that can't teach".

George Bernard Shaw. 1903

I think poor Oscar Wilde was locked up at the time. Poor bugger.

 

[S.T]

George Bernard Shaw. 1903

I think poor Oscar Wilde was locked up at the time. Poor bugger.

Well played!

 

[sanj]

That is expensive $30,000.

There are cheaper options and may be more effective, just start reading posts on SS there are a number developers that post their deals and provide lots of tips etc.

Is the mentor going to source the right site, the right builder etc. What does he do exactly?? looks at your deals/numbers, so does Dymphia Boholt, I think she charges similar, however its meaningless because you are the one that needs to get the figures/end values right, they wont have a clue because they may not be playing in your backyard, their feedback will be totally reliant on the information you provide.

Another question are you better off paying a buyers agent to source a development site that stacks up, they do the feaso as well?? cheaper than $30,000.

MTR

Momentum wealth charges around that figure just to source your everyday development sites in perth, in that regard the 30k would be better spent with this bib Anderson chap

Overall yes it is a huge sum but if this guy really is very good it could be worth it. Eg if someone is looking to make the jump up from say 8 unit townhouse developments to 40 apartments it may be worth having an experienced sounding board. All depends on what is on offer. I probably wouldn't personally do it though

 

[shangrilada]

So you paid $175K for your course?? now I am really confused, if this is the case you are really scaring me

maybe my bad American English coupled with the late posting is causing all of this confusion. Or perhaps my funny way of saying that I did not and will never pay for a course on property development. I just jumped head first into the property and teamed up with an experience developer so technically I made 175k from my 350k investment. so yes that development did yield us a return of 50% in 12mos.

 

[MTR]

Momentum wealth charges around that figure just to source your everyday development sites in perth, in that regard the 30k would be better spent with this bib Anderson chap

Overall yes it is a huge sum but if this guy really is very good it could be worth it. Eg if someone is looking to make the jump up from say 8 unit townhouse developments to 40 apartments it may be worth having an experienced sounding board. All depends on what is on offer. I probably wouldn't personally do it though

Its different strokes for different folks, if the B Anderson workshop is what someone thinks they need and they have benefitted from this, then more power to them.

There are BA that charge less than Momentum, they are possibly one of the most expensive BA in Perth.

I am very cynical when it comes to all property gurus and their educational programs. Seen many people get burnt, paying too much for wrong/bad advice, and some promoting strategies that the average Joe/Jill starting out could not possibly achieve or fund.

All to their own.

MTR

 

[cu@thetop]

I'm not sure what your point actually is? Do you only value education if it is given freely? How do you validate that the information you are receiving for free is even worth having?Not necessarily- free info can be bad but paying for bad info or froth is even worse.

Personally I have no interest in teaching others, I'm not experienced enough to do it, nor am I that way inclined. I only contributed in this thread to assist the person that asked about Bob Andersen.

But since you asked - My biggest challenge was finding a builder that would build what I wanted for a price that made it worth doing. When I finally did get a quote that I was happy with and paid the pre-contract deposit, the builder was so slow and ineffective that 4 months later I still didn't have a contract. At that point I decided to pull the pin (lost half my deposit) and went and found another builder who was fantastic.

Long story short, from my limited experience, once you know the steps to take to do a development, the absolute hardest thing is finding the right people to do the work properly, in a timely manner and for a fair price.If anyone held a course on this I might actually pay for it!

Once you find those people hold them close.

With that, I will now step back into obscurity. No- hang around and share your victories/horror stories.

Cheers,
Argyle

maybe my bad American English coupled with the late posting is causing all of this confusion. Or perhaps my funny way of saying that I did not and will never pay for a course on property development. I just jumped head first into the property and teamed up with an experience developer so technically I made 175k from my 350k investment. so yes that development did yield us a return of 50% in 12mos.

Well done. This is the method I would consider. Everyone here would like to hear the full story with figure etc if you are not too shy.