JV with Town Planner

The plot thickens and roars to a quick and terminal end.

Craig Christie is the Town Planner from this group. He told us he is seeking JV partners for split and flicks.

We expressed an interest and arranged a meeting next week. When I later emailed him asking to exchange forms of identification at that meeting, and that if we progressed, I would want more information about his financial position, he was offended and canceled the meeting.

It is obvious to me the guy is seeking less experienced JV partners....for what reason I can only guess......

If I was trying to build commercial trusting partnerships, I would want to partner with the most experience I could find....not the least.
 
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It is probably for the better. When entering in JV's it is good to check everything, so it is good that you pulled out now rather than end up in court later.

regards

Antonio
 
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Too right Antonio....I am no longer amused by those who think their ruffled feathers are more important than a spilled litre of some irrelevant's blood.




It is probably for the better. When entering in JV's it is good to check everything, so it is good that you pulled out now rather than end up in court later.

regards

Antonio
 
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The plot thickens and roars to a quick and terminal end.

Craig Christie is the Town Planner from this group. He told us he is seeking JV partners for split and flicks.

We expressed an interest and arranged a meeting next week. When I later emailed him asking to exchange forms of identification at that meeting, and that if we progressed, I would want more information about his financial position, he was offended and canceled the meeting.

It is obvious to me the guy is seeking less experienced JV partners....for what reason I can only guess......

If I was trying to build commercial trusting partnerships, I would want to partner with the most experience I could find....not the least.



Their site looks interesting. I would have wanted to meet with them in the first instance before mentioning financials etc. At that meeting I would have requested details on previous projects/contact details to confirm outcome etc. Maybe he was offended does not necessiarly mean there is a problem.

Cheers, MTR
 
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Their site looks interesting. I would have wanted to meet with them in the first instance before mentioning financials etc. At that meeting I would have requested details on previous projects/contact details to confirm outcome etc. Maybe he was offended does not necessiarly mean there is a problem.

Cheers, MTR

I had already met him. This was the follow up.

Re their site, I look for more complete professional resumes than offered, and a pic of each; and more than one current project.

Anyways, I have since learnt another forumite felt something is amiss.
 
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Folks

If you arent a woman, make sure your women ( be that wifey, business partner, friend of relative in need) are in on these conversations and deals even if they dont have much interest

The ladies have a far more finely tuned BS detector.

ta
rolf
 
Oh so true Rolph. Although Mrs Rambada doesn't have a huge grasp on fine financial legal & accounting details, her gut instinct and BS meter far out rules any other indicators.

As for JV's as described. If he is offended, well end of conversation to me and he can go and jump. This is not free and open information and dialogue.
But that doesn't mean it wont work for someone else. JVs are so much more than just the paper work and numbers. It has to include a lot of human emotions - including guilt and trust. We haven't done any JVs due to both. We would feel so guilty if it all went to custard and we have to trust the other side. Being introverted makes this hard. But out of the 2, guilt is our overriding handbrake to JVs.

So to proceed, you both need -
  1. to meet and truly trust this person and his organisation (so short a statement but so hard to achieve)
  2. to do all due diligence so you can sleep at night

The due diligence will be affected by your trust. So I suggest prior to any meeting you have an unemotive list of requirements from the other side. The role of a good salesman is to negate your list and its objections. So be firm to yourselves.
 
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TBH's BSD is calibrated to a room full of 10 year olds, and at the initial meeting, she happily wrote her name and mobile no. on the list under that of the Big 4 accountant and the 747 pilot.

I used to think a woman's intuition was superior on most things, apart from sales spin on handbags, skirts, shoes, makeup, cars, processed food for kid's lunch boxes.... :)
 
TBH's BSD is calibrated to a room full of 10 year olds, and at the initial meeting, she happily wrote her name and mobile no. on the list under that of the Big 4 accountant and the 747 pilot.

I used to think a woman's intuition was superior on most things, apart from sales spin on handbags, skirts, shoes, makeup, cars, processed food for kid's lunch boxes.... :)
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 a 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..
 
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.
 
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.

No nothing through them Winston,and yes the turnaround factor can be very quick,the way i taught myself about cutting blocks up was from Sat-Couier-Mail just ring up all the people that run those adds for "JV" they are there every sat paper,but the fact you find out is they never own anything,you and various other numbers of people fund the deal the hardest part is finding the right location and as most future sites are tightly held that's the hard part ,that what those people that run those add's,look for the 5% that have to sell,they are out there all the time
a very simple way is run your own add,for 100 bucks,you may get up too 30 calls,50% will be agents,40% will be people just trying to find out what there property is worth,once you break into the 10% you know straight away if someone has money problems,the rest is your own personal skills,no soap box up-start can ever teach you that..willair..
 
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