W
Winston just have to ask the question what numbers are you talking about and were the sites in Brisbane,if you and your Lady intend to split for returns above 35%,and within 9-12 months with DA's complete turn arounds just go it alone,a few i have had a look at in Toowoomba above 1000sqm on main road frontage with very high flow car rates per hour ,,inner Brisbane you would find it very hard unless you pay top end prices,it also pays to never underestimate any woman's at any age you learn that very quickly when you marry up in life..willair..
Honestly Will, I only met the guy on Monday night on what I thought was going to be a free info night with a TP, clarifying time lines for DAs and risksmart appns. It turned out to be a, if we pool your capital and my expertise, there's all these opportunities in the market. His examples - a couple of BCC corner lots reconfigured to eliminate battleaxe driveways. We asked a few questions about DCPs and he seemed to know his stuff genuinely, so we thought we were prepared to meet again to explore JVs.
He phoned the next day to line up a 1on1 in a week. He gave me the impression there were opportunities ready to snap up.
To speed things up, I later emailed asking to exchange personal identification docs at the next meet, and that I'd want to exchange financials after that.....this offended.
In the first meet and yesterday's phone call he was vague about whether he was contributing equity or just expertise. In fact, he was vague about a lot, but I can understand if he has sites in mind that he hasn't secured, he isn't going to blather them to any Tom.
I sensed he prioritized someone naive with deep pockets, he could cut a better deal for himself, well beyond the std fee for a DA. TBH thought he said he wasn't even interested in sourcing the sites, just screening those brought to him.
So it wasn't something I planned. The guy was recommended to me by another forumite as a TP offering free info nights.
If the guy had been more transparent, for the first site, I'd have not given him much more than TP fees, and a BA fee if he sourced the site. Why give more when I'd also be up for legals putting a JV together and compromising in using his surveyor, civil and hydraulic engineers.
I agree it would be hard to get a site in Brissie with reasonable margin. There's too many BAs and Mom and Pop investors scanning realestate.com every night.
Have you put anything through risksmart Will? I understand a reconfiguration can happen a lot quicker than 9mths.
The return I'd seek from something like this would be dependent on the downside of financing.
Re women, I've worked with enough not to over or under estimate them, or believe oestrogen is magic potion. Don't make the mistake of projecting your partner's attributes onto 50% of the population Will. Many women have their intuition drowned by too frequent doses of sensory overload at Indro or Carindale, and cackling hen sessions at Zarraffa's. And in our latest negotiations to buy a Clayfield PPR, I've been outright, and confirmed, fibbed to at least 5 times. But the female agent's 'intuition' wasn't tuned enough to get that I might know more than what I let on.