Looking for a Development site that makes no profit??

[reeco]

Well it does'nt take much skill to lose money, which is why 90% of people end up negative or take 20-30 yrs to make a decent bit.
PT Barnum said "there's one born every minute", but these days it's much more than that.



I never knew losing money could be such a hard thing to explain.

Who said i was losing money. How do you know PB...but thanks for the heads up on the advanced ridicule. Hope it makes ya feel special about yourself buddy. Anything else you wanna say? Dont stop there please....

 

[Ausprop]

it's still hard to fathom why you would deliberately target a site that has no money in it. Sure you may be able to turn it into a better devy, but why not start with a profitable site and make it even more profitable?

my concern is that if you asked a REA for a dev site that doesn't work they would fall over themselves in bringing you opportunities.

Reeco drop me a PM if you like, I have blocks lyign around that you may be able to do something with. unfortunately (?) some of them would have a profit but I can get rid of that for you if it is preferable.

 

[reeco]

right so, again, why don't you find sites with good profit already and do your magic on them to create larger margins?

Why do bird dogs and real estate agents exist? Who said i wasnt trying to find profitable sites?

Thanks Michael: You hit the nail right on the head. Id love to share but i knew i would get responses like PB's. When your different people LOVE to shout you down or ridicule you for there own pleasure.

Glad PB opened his mouth(so to speak) Now i know sharing sure aint caring. When i make money from it then ill share. Kinda hard to ridicule someones idea when they have proof$$$.

My idea sure aint standard but my area of focus is tho. SOR, near rail-stations, large lots, major arterials. The usual stuff but will discount any of those list items according to whats available.

You can make some good movements on price when you show vendors theres nothing in it for developers. Thats where some of the claw back begins ...I actually had a show down with an agent and made 10% drops on her own property!!

Made her see that no dev would touch it and began to negotiate from there. She even re-did her signs to now say "land bankers welcome" when before its said "developers/investors/homeowners welcome". Classic. She didnt know it but my claw back was starting to put the margin back in it. But again. This is only a tiny compenent of what im doing

 

[Ausprop]

She even redone her signs to now say "land bankers welcome" when before its said "developers/investors/homeowners welcome"

nice work! breaking down the confidence of an agent is great. if the agent doesn;t believe in it then they can't convince others (and the agent has to sell to both the buyer and the seller), that's why when sellign a strong agent that believes in it is critical

 

[Piston Broke]

Who said i was losing money. How do you know PB...but thanks for the heads up on the advanced ridicule. Hope it makes ya feel special about yourself buddy. Anything else you wanna say? Dont stop there please....

At "0%" you are losing money. Period.
Oh Yeah, I feel very special!

Glad PB opened his mouth(so to speak) Now i know sharing sure aint caring. When i make money from it then ill share. Kinda hard to ridicule someones idea when they have proof$$$.

So why a scant post your looking for property with "0%" profit?
You think you're inventing the wheel? fire perhaps?
And what am I supposed to be caring about?
I'm not a communist, and I aint a hippy.

...I actually had a show down with an agent and made 10% drops on her own property!!

Hope that makes you feel special, because that's why agents will call people like me and give me your highest offer followed by:
"I really dont want that schmuck to buy it, so if your interested that's the price".
As is so often reported in this forum...so yeah I am special.

 

[Chomp]

Reeco,

Why not share your strategy? All of us are here to learn. You sound very confident in it so you have my attention.

Chomp

 

[reeco]

At "0%" you are losing money. Period.
Oh Yeah, I feel very special!



So why a scant post your looking for property with "0%" profit?
You think you're inventing the wheel? fire perhaps?
And what am I supposed to be caring about?
I'm not a communist, and I aint a hippy.

Hope that makes you feel special, because that's why agents will call people like me and give me your highest offer followed by:
"I really dont want that schmuck to buy it, so if your interested that's the price".
As is so often reported in this forum...so yeah I am special.

Yay big clap for PB. Hes so special. Happy for you. Honest.

0% is relevant bud. You see those 2 question marks at the end of the title??
Its a double ask which implies that what you percieve as 0% i might see as 100%

I not asking for your opinion on my strategy your highness. I asking if someone has a property that theyve done DD on...which THEY believe had no profit in it.

Its called creative thinking PB. Kinda like your creative writing... Not to everyones like, but relevant in someway.

Are you implying that im a schmuck i wonder?? You like to dance around the subject without saying directly...Yip you sure are special. Im even gonna give you a kudo coz your so cool

Ill just stay here and try figure out how to invent fire

 

[Savanna100]

I suspect that one way to make it pay would be to have a cheap way of actually putting the new dwellings on the site.

When I was an ACT-based planner, I looked at getting houses (usually ex-govvie houses) and transporting them to cheap land at a town not too far away and the Council there was vaguely receptive. THese houses are usually under 100 sqm and two of them would make a great dual occ.

There are usually quite a few knockdown-rebuilds going on at any one time in Canberra's established areas and the figures stacked up quite well at the time as I would have been getting the old houses for basically nothing and it was about $100K or a bit more to transport and re-establish them and the blocks were cheap. The rents would have all been CF +.

However, I didnt go through with it due to funding issues (funding for transportables is an issue and I was in the middle of a divorce which didnt help) but if funding wasnt a problem it was a goer.

 

[reeco]

Reeco,

Why not share your strategy? All of us are here to learn. You sound very confident in it so you have my attention.

Chomp

Certainly. The modest are here to learn. The not so modest...well we all know what they think Special

Id rather let it run its course and then share. Even if it doesnt work. At the mo im apart of Mr Mcknights RESULTS program so ive got some decent heads in the background helping out.

It basically involves a sydicate of people(family) with a common goal. So theres 7 of us trying figure out this wheel/fire thing.

 

[reeco]

I suspect that one way to make it pay would be to have a cheap way of actually putting the new dwellings on the site.

one part of the puzzle. Im in building and i work with a certain product that makes building cheap and very quick.

Are you still pursuing this savanna? sounds interesting. Love how property makes one think outside the square...

My plan includes looking at other peoples plans to see if my "eye" can lift its prospects. Ive noticed when people see nothing in the deal dev wise, they are more open to negotiations in "other areas" also .price/set dates/etc.

 

[Piston Broke]

Are you implying that im a schmuck i wonder?? You like to dance around the subject without saying directly...

Actually they are the exact words i was told by an REA last week.
Fact is much more fun & exciting than fiction.
I also happened to be talking about efficient ways of building medium/high density dwellings with some people who have a few buildings completed and on the market around Sydney and are looking for the next one.
I can provide them with matches and fuel.

Ill just stay here and try figure out how to invent fire

Some of us already know about McKnight's ridiculous claims of making people millionaires....
http://www.jenman.com.au/news_item.php?id=232
http://www.abc.net.au/mediawatch/transcripts/s1081543.htm
Too many people think they are good skippers without noticing the currents taking them there.

Does he teach how to be a spruiker and:
"- Developing 3-week online marketing campaign responsible for generating over $960,000 in 3 weeks, and;
- Writing a product launch salesletter responsible for generating over $570,000 in sales in under 24 hours;"
Just like his marketing people did?
That's how you make money to buy properties! PT Barnum knew what he was talking about.

 

[reeco]

Some of us already know about McKnight's ridiculous claims of making people millionaires....
http://www.jenman.com.au/news_item.php?id=232
http://www.abc.net.au/mediawatch/transcripts/s1081543.htm
Too many people think they are good skippers without noticing the currents taking them there.

Does he teach how to be a spruiker and:
"- Developing 3-week online marketing campaign responsible for generating over $960,000 in 3 weeks, and;
- Writing a product launch salesletter responsible for generating over $570,000 in sales in under 24 hours;"
Just like his marketing people did?
That's how you make money to buy properties! PT Barnum knew what he was talking about.

Well theres one thing we can agree on. There marketing is full of s**t. Made me want throw up actually. I despise spruiker websites. With a passion...why is it that they all have the exact same layout??

You dont need to link jenman aswell. No-ones a bigger critic of mcknights work then i. Trust me on that one. Or not. But i started a thread years ago hammering mcknight. I still despise his slight of hand tactics when it comes to marketing, but as a person hes ok. Im actually gonna write something up after ive finished. Give people the real deal. But thats another story/day