Life advise....

What is now very interesting is that there are some changes with regards to finance that is coming into play.

I am currently sourcing lo doc resi loan for 4 unit site, this is very new product. I mention this because it may get a lot easier to source finance moving forward, especially if you plan to do this full-time, finance is one of the hurdles.

Cheers
MTR:)
 
What is now very interesting is that there are some changes with regards to finance that is coming into play.

I am currently sourcing lo doc resi loan for 4 unit site, this is very new product. I mention this because it may get a lot easier to source finance moving forward, especially if you plan to do this full-time, finance is one of the hurdles.

Cheers
MTR:)

What changes MTR? You could always do resi loan for 4 unit site with some banks.

I've heard there have been some changes to the way valuations are done.
 
JKWS, if I was in your position, I would start laser point networking, rather than adopting a shotgun approach. This is something I learned the hard way with my (non-property related) business.

Shotgun approach = jumping on the forum and asking everyone what they think. A lot of people with little to no idea will be more than happy to give you advice you don't need (with good intentions of course). This is not a bad thing, it's just not conducive to what your long term goals are.

Laser point networking = identifying people who are doing what you want to do and approaching them or asking your contacts to introduce you to people they know who are in a position to and may be open to helping you.

For instance, westminster has done really well in this area, she might be open to giving you a few tips and pointers in relation to your specific situation (or she may not, which is okay, too). I suggest you do a search of her posts and read everything she's written regarding developing and go from there. She has posted a huge amount of great information that you would be hard pressed to find out in the wild. I would be asking her if she is willing to help you out if I was in your shoes.
 
yeah it was a bit mean, but there is a difference between a typo and simple bad grammar, unfortunately, i'm a bit pedantic about bad grammar

the most common no-nos I see are

"I want some advise"
then vs than
Your vs you're


If that is the case, I think you would have known better when you started your thread about there being more to life than money. The mistake in your title has annoyed me for days.
 
yeah it was a bit mean, but there is a difference between a typo and simple bad grammar, unfortunately, i'm a bit pedantic about bad grammar

the most common no-nos I see are

"I want some advise"
then vs than
Your vs you're

Guys, stop this, let's stick to the point of this post

I'm a bit of as grammar Nazi but I think it is relevant to the OP's wish to be a developer. You see, if I'm dealing with someone who misses the small detail I know it is going to be more work for me. Will the finishes on the development be "near enough is good enough" standard? Will a banker want to loan OP money if his application is full of typos.
My views on this may be considered old fashioned but it is to do with perception. OP may be a great developer but he will need to play the part to be accepted. I know many developers who can't string a sentence together and left school at year 10. They are great at what they do, and wealthier than me by a country mile- but they worked years to get the skills and systems in place so when they say "youz" it doesn't matter (if indeed it ever did).

Correct grammar (or is it grammer?:rolleyes:) is not the answer but it can't hurt.
 
Guys and girls thank you again for all the valuable information, I feel so much better and confident with the approach below.

At this stage I think ill set a 3 year plan (subject to change) for expansion and position myself so I can return home and develop full-time.

-Ill do this buy loosing a few of the scrappy/ crappy sites I have (2 come to mind) which will put me cash flow positive.

-Save the wage overtime or aim to develop Higher yielding sites with greater ROI that will be kept to save the tax loss. Equity is king for fast growth at this stage is all I'm hearing (so long as its all positive CF) and I agree.

-Also laser point Network with people in the position I want to be in for the future. This is a great one! Also something I've wanted to do for a long time, it just never dawned on me to network with the forums.
 
JKWS: Good on you. Other kids at 25 are still working out what they want to do in life. You, on the other hand, have a plan and a strategy. I take my hat off to you. Take it one step at a time. Don't rush into anything without first doing your research. Don't worry: lots people get 'advice' and 'advise' mixed up. Some really successful people don't have the best spelling, but it doesn't mean they're not smart and savvy. You're on the right track.
 
Thank you Property Girl.

I must admit, it was a silly mistake and obviously upset some people. People that would rather waste time and energy on something silly, rather than looking at the bigger picture (the post itself).

One thing they don't understand- It was 4am here, I was coming of a 13 hour night shift and ran to a dark corner to pull my iPhone out to start ferociously word vomiting what was in my head.

Would I put forward a professional document after a 13 hour night shift on an iPhone? I don't think so.

Congratulations to the people that just clearly demonstrated throughout this thread that some of us focus on the road ahead and some of us focus on the bugs on the windscreen. Its me that has pity for them ;)


JKWS: Good on you. Other kids at 25 are still working out what they want to do in life. You, on the other hand, have a plan and a strategy. I take my hat off to you. Take it one step at a time. Don't rush into anything without first doing your research. Don't worry: lots people get 'advice' and 'advise' mixed up. Some really successful people don't have the best spelling, but it doesn't mean they're not smart and savvy. You're on the right track.
 
Life advice

JKWS
Take advice from those who are doing it rather than those who are seminar speakers. People who are at the level you want to be are more than happy to help newbies.

The following is a saying that has been around for a while and I have found to be true.

Those that can, do, those that can't teach.
 
yeah it was a bit mean, but there is a difference between a typo and simple bad grammar, unfortunately, i'm a bit pedantic about bad grammar

the most common no-nos I see are

"I want some advise"
then vs than
Your vs you're

I'm pretty sure you used 'then' for 'than' in the heading of a thread only 3 days ago. And I don't think irony is your thing.
People in glass houses ... (shouldn't throw stones).
 
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I'm a bit of as grammar Nazi but I think it is relevant to the OP's wish to be a developer. You see, if I'm dealing with someone who misses the small detail I know it is going to be more work for me. Will the finishes on the development be "near enough is good enough" standard? Will a banker want to loan OP money if his application is full of typos.
My views on this may be considered old fashioned but it is to do with perception. OP may be a great developer but he will need to play the part to be accepted. I know many developers who can't string a sentence together and left school at year 10. They are great at what they do, and wealthier than me by a country mile- but they worked years to get the skills and systems in place so when they say "youz" it doesn't matter (if indeed it ever did).

Correct grammar (or is it grammer?:rolleyes:) is not the answer but it can't hurt.

That's ridiculous. The 2 do not equate. Posting on a forum using a phone or computer doesn't require perfect grammar and punctuation. It's all about context.
 
What changes MTR? You could always do resi loan for 4 unit site with some banks.

I've heard there have been some changes to the way valuations are done.

Serviceability, you can get your accountant to sign off on income, however I think perhaps only to $750K, however I know another developer who is getting much more than this.
RAMS has new lo doc products, perhaps you want to research this. Certainly interests me as I am a lo doc from way back, did make my life much easier. Am gobsmacked that this stuff is rearing its head again.

Cheers
MTR:)
 
I'm pretty sure you used 'then' for 'than' in the heading of a thread only 3 days ago. And I don't think irony is your thing.
People in glass houses ... (shouldn't throw stones).

yeah, i will admit, that was a typo on that one, makes me look pretty silly. am happy to admit to that one;)
 
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