Developer mentor to share profit
- Thread starter bumblegoodie
- Start date
Hornsby council is the most difficult council to deal with...a lot of environmental planning requirements + most are resi low density + 50% ratio for land to usage space etc....
I have a site in Cheltenham (the Cresent/Lyne rd)- corner block faces the train station and it's 1,200 sq clear flat land with no heritage listing, current house is bang right in the middle so need to knock down.
Put in DA for 3 townhouse...and it's been sitting there for 10 month
Council town planner comes back that they prefer if i consider doing a 10x1 bedroom over 55's development as it's so close to station etc.....WTF
Previously having Dealt with council from bankstowns and Nowra etc...all nice and simple. Submit...some concerns...amended and approve and within 6 month.
If the site is in Hornsby...good luck
P.s Personal opinion.
thanks Michael.
really useful feedback!!!!
Look I don't think it's an awful idea. It has plenty of credit for someone wanting to leap frog into a good development but lacks the skills. Not everyone wants to go with the slow and steady route (nor the **** ups that might go along with it).
This is the type of service I do in WA and it's really helped a number of people who were stuck and just needed a hand to get going and be guided.
BG: there was a guy on here awhile back that went on to create Small Developments, Matt Edmonds was his name. He is in NSW and might offer mentoring for you.
This is the type of service I do in WA and it's really helped a number of people who were stuck and just needed a hand to get going and be guided.
BG: there was a guy on here awhile back that went on to create Small Developments, Matt Edmonds was his name. He is in NSW and might offer mentoring for you.
thanks Westminster. Yes, i think that rings a bell. I think his username is MattNZ? his last post was back in nov-2013........ so he must be busy and didnt come online.....
Before you go out hunting i would first get your finances in order. Know exactly what you have to play with, no point finding a beauty of a site only to realise later down the track (i.e. when you're ready to develop the site) that funding will be an issue. You'll need to think beyond just securing the site...the money needed to develop it can be big $$'s.
I think it would be hard to find a mentor and we too looked for one years and years ago without much luck. Went to seminar after seminar and found the same thing being repeated...only way to really learn is get out there and do it.
Its really not that hard if you're simply talking about duplex or small group dwellings. If you've already got a site suitable for a duplex development, i'd go with that (providing the numbers all work and you end up with a profit).
It can be daunting looking on realestate.com.au for a property which you think may be a good deal....its hard in the sense that for every deal you come across, you'd have to put in at least a couple of hours of research to determine whether its worth investigating further. The time involved is simply the research behind the development plan, its zoning and what developments and the min requirements are for redeveloping the site. Then hopping onto rp data and checking out actual comparable sales for your finished product. Actually 2 hrs can be underestimating it. So my suggestion is to maybe become an area specialist, target a suburb or 2 and get familiar with their zoning/policy area so when you come across something on realestate.com.au, you can instantly tell how many you homes you can fit on that block and quickly do your feasibility thereafter. If you're looking up a different development plan for every house you come across this will quickly chew up your day and you'll not have accomplished much.
All the best and love your enthusiasm
I think it would be hard to find a mentor and we too looked for one years and years ago without much luck. Went to seminar after seminar and found the same thing being repeated...only way to really learn is get out there and do it.
Its really not that hard if you're simply talking about duplex or small group dwellings. If you've already got a site suitable for a duplex development, i'd go with that (providing the numbers all work and you end up with a profit).
It can be daunting looking on realestate.com.au for a property which you think may be a good deal....its hard in the sense that for every deal you come across, you'd have to put in at least a couple of hours of research to determine whether its worth investigating further. The time involved is simply the research behind the development plan, its zoning and what developments and the min requirements are for redeveloping the site. Then hopping onto rp data and checking out actual comparable sales for your finished product. Actually 2 hrs can be underestimating it. So my suggestion is to maybe become an area specialist, target a suburb or 2 and get familiar with their zoning/policy area so when you come across something on realestate.com.au, you can instantly tell how many you homes you can fit on that block and quickly do your feasibility thereafter. If you're looking up a different development plan for every house you come across this will quickly chew up your day and you'll not have accomplished much.
All the best and love your enthusiasm
Thanks Mama for the advice.
Not much luck finding a mentor.
Yes, printed out the DCP from council start reading it now.
Min size lot. Set backs , etc
Getting a good feel of the land development requirements.
Looking out for site while learning.
Finance is sorted .
Thanks again
Not much luck finding a mentor.
Yes, printed out the DCP from council start reading it now.
Min size lot. Set backs , etc
Getting a good feel of the land development requirements.
Looking out for site while learning.
Finance is sorted .
Thanks again
Put in DA for 3 townhouse...and it's been sitting there for 10 month
Council town planner comes back that they prefer if i consider doing a 10x1 bedroom over 55's development as it's so close to station etc.....WTF
LMAO..i think that Hornsby council worker and his colleague all over 55 and wants to buy few from you...
Haha funny. Yes u can have all your pre sale approved.
btw, I tried to contact Matt from small development. He is currently working on something and couldn't help me.
Anyone else interested ?
btw, I tried to contact Matt from small development. He is currently working on something and couldn't help me.
Anyone else interested ?
I don't know what's happening with Matt, but he hasn't logged on for over a year and he doesn't respond to emails, either gmail or through his smalldevelopments site. I thought it was just me, but now someone I referred to him a while ago is having the same problems.
Anyone know what's happened?
Last i heard he lost a huge amount of money from developing in Gladstone and is now back at work.
Maybe he should play more poker instead, I believe he said he was ranked in the top 1% on Pokerstars.
Wait, is poker and speculative development related somehow?
Hope he was going for a huge pay out at least, and something completely out of his control happened, otherwise why risk it all?
No need to speculate, he seemed like a decent bloke giving it a go.
I'm sure lessons have been learnt either way and there's at least a good chance he'll bounce back if what was posted was in fact true.
Booming regional towns are a tough one, there's often lots of easy money to be made but the crucial bit is knowing when to get off the train.
I'm sure lessons have been learnt either way and there's at least a good chance he'll bounce back if what was posted was in fact true.
Booming regional towns are a tough one, there's often lots of easy money to be made but the crucial bit is knowing when to get off the train.
If you are just looking for duplex site to start with, it's actually easy, but just a lot of work you need to do and running around.
1) go to talk to as many builders as possible. Ideally, project home builders.
what you look for is to know the cost of construction of duplex, site cost, excavation cost....
2) go to as many town planning consultants / architects talk to them about what council why are specialised, many of them will tell you they do every council, which is not good. You want to find out the council they deal with the most. so they can tell you in and out of that specific council.
3) do the number yourself on the site cost, construction cost, consultants cost, holding interest cost, stamp duty, legal cost, selling cost, council contribution....etc
Basically, you want to know about the council's "soft" rules and council "culture" from town planning consultants/architect, construction cost from the builders, borrowing from broker, do the your number yourself.
Of course, you need to read the DCP, LEP yourself.
for example: Hornsby council is not welcome for dual occupancy so don't waste time on finding a duplex site there.
http://hscenquiry.hornsby.nsw.gov.au/Temp/002_00K_0E1Z1L8K0OA_DOC_105420.pdf
Hope this help. good luck your development project.
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I managed to call Matt directly and spoke to him on the phone.
Yes, he is very busy with other activities.......
Yes, he is very busy with other activities.......
thanks Talyor for the advice.
Yes, sorting out my finance and spoke to many ppl since my last post.
letter a better feel of development....
