New Property Concept

[Reno Funders]

My comment was tongue in cheek

Only the best of the best will be employed into projects to enable best property assessment, for the best property result.
Exteriors, Interiors. In hot selling areas.
The scale of the clients, is enormous.

 

[Peter 14.7]

My comment was tongue in cheek

Only the best of the best will be employed into projects to enable best property assessment, for the best property result.
Exteriors, Interiors. In hot selling areas.
The scale of the clients, is enormous.

Again Good Luck Great Idea and a market exists. Lots of issues to go thorough but every business is. Peter

 

[see_change]

why buy a property for over $500,000, for just 8% yield over several years.

When you can renovate a property for $50,000, with a 20% growth/yield in a few months.
I know which math I prefer.

When I buy a property I borrow the majority of the purchase price ( usually all of it ) then i like to sell when the price has gone up significantly. So in term of what I'm putting in , I'm making a lot more than 8% , in reality if I'm borrowing everything , my percentage return is infinity ...

I know what maths I prefer.

A few years ago , some one came on wanting to lend money at zero % , claiming that they would revolutionise the home loan segment. After some hype for a couple of months it all fizzled away.

RF , it is an interesting concept , but I'm not sure if this forum is where you will get your market . Most of the members here are more the do it your self type of people and want to keep all of the profit for themselves . I know I do .

The Reno is the easy bit . Finding and financing the right property is the harder bit and if I'm doing that and want to do a Reno to increase the profit I'm not interested in sharing it .

Cliff

 

[Ace in the Hole]

Hi peoples,

Im new to the forum

Just letting you know, Im bringing a new concept into the property industry.

This is a very similar concept:

http://www.renovationrealty.net/

 

[pinkboy]

This is a very similar concept:

http://www.renovationrealty.net/

Nice find AITH!

pinkboy

 

[see_change]

Some lattes over a weekend, drama fights/bitchfest and rolling that last spot on the wall 30 sec before the judges walk in?

We do know he / she has experience in " media " ......

 

[pinkboy]

We do know he / she has experience in " media " ......

Specifically reality TV?

pinkboy

 

[DaveM]

Reno Funder... can I interest you in a unique business opportunity as well? It involves selling household products to friends and family at wholesale rates and you can earn commissions off sales from people you introduce to the business opportunity.

Who needs to renovate when you can live the high life with only a few hours a week of work for financial freedom?

 

[TMNT]

Agree with many posters re the cynical factor re the high risk and experience of the main man. BUt moving on from that:

Does he realise:

un-renovated properties go for more pro-rata in most desirable suburbs then the renovated ones? I.e. inner city terraces needing work get 80% of the value of completed ones as they are cheaper to get so more buyers, as you price a property up, there are less potential buyers;
14.7

I'm having one of those moments, I had to use a calculator to enter 6x4 just before

Can you give figures of this prorate example?

 

[pinkboy]

Reno Funder... can I interest you in a unique business opportunity as well? It involves selling household products to friends and family at wholesale rates and you can earn commissions off sales from people you introduce to the business opportunity.

Who needs to renovate when you can live the high life with only a few hours a week of work for financial freedom?

Avon isn't a new concept DaveM....is there something you want to 'come out' to the forum?



pinkboy

 

[Reno Funders]

This is a very similar concept:

http://www.renovationrealty.net/

Yes, when we researched concept, this was the only one we found even close.
They are specifically a real estate agent, so they restrict themselves with concept.
We are far broader. We arent dealing with one agent, nor one reno company.
Its not localised. Its a broader concept of "funding" .

 

[see_change]

We're not saying your concept is evil.

You have asked for feedback on the reality of the concept, and you are getting it.

Everyone here loves to make money! But they are also careful and do the correct due diligence, which could take years. A concept is just a collection of synaptic impulses until someone develops a way to make it work in true life.

Sustainable businesses rely on a unique and defendable USP (unique selling point), sufficient working capital and cash flows, enough margin in each deal to make it worthwhile, and great staff that want to keep working for you.

Unless you have all of these, and much more, it will remain a dream.

I think this is a pretty good summary of what I and others on the forum think of this.

Cliff

 

[china]

Good Luck but i predict 6 months of boom followed by 12 months of issues then liquidation and tears.....

Peter 14.7

May have made enough in six months to retire to the Greek Isles or party permanently in Ibiza. All we need in life is one big hit and this idea may well do it.

 

[pinkboy]

May have made enough in six months to retire to the Greek Isles or party permanently in Ibiza. All we need in life is one big hit and this idea may well do it.

Are you suggesting this concept will make more than a surgeon?


pinkboy

 

[Reno Funders]

Very much so. Unique selling point.
Got you guys speaking about it. Thats a good start
Just remember, rolls were boring. Tell that to Subway.
So were burgers. Tell that to Mcdonalds

The variation in concept is that we are funders in broader capacity. Not just for one real estate agent.

So we will be known as Reno Funders, and people will know who to approach to get funding for the renovation, in any state of Australia. With a post sale payment plan, but only when in renovation profit.

So unique selling point and marketability is very important.

 

[china]

Very much so. Unique selling point.
Got you guys speaking about it. Thats a good start
Just remember, rolls were boring. Tell that to Subway.
So were burgers. Tell that to Mcdonalds

The variation in concept is that we are funders in broader capacity. Not just for one real estate agent.

So we will be known as Reno Funders, and people will know who to approach to get funding for the renovation, in any state of Australia. With a post sale payment plan, but only when in renovation profit.

So unique selling point and marketability is very important.

I would suggest that you proceed rapidly and get the marketing/ website/ newspaper ads / media saturation underway.

There is always a benefit of "first mover advantage".

 

[handyandy]

Reno Funder... can I interest you in a unique business opportunity as well? It involves selling household products to friends and family at wholesale rates and you can earn commissions off sales from people you introduce to the business opportunity.

Who needs to renovate when you can live the high life with only a few hours a week of work for financial freedom?

Forget RF how about me. I am sick of renovating and all it's associated issues your model sounds so much better.

Seach, I well remember the 0% interest rate thread and was thinking exactly about that post as I am reading RF's spiel - no doubt a born salesman looking for a sucker or 3.

This proposal depends on getting the vendor to accept a very low base price. This is exactly what anyone who wants to renovate for profit needs to find a well priced property.

Good find ACE. I would suggest that RF's ingenious business proposition is a direct rip of Renovation Realities model.

The reason that this works in the states is that there land value is a small component of the RE price. With houses just about being a commodity item. A very different mental attitude to housing then is present in the Aust market.

Also the US model hinges on the renovation company / real estate company being in the middle of the transaction ie complete control of the final sales transaction. I would think there will be some regulatory issues establishing the same model here.

A comparable sales contract here would be an options contract with the option taker allowed to modify the home. Think Mark Rol++n and Ma***nd and their property option sell the DA concept.

Good luck with it but there is no way I would ever be an investor.

Cheers

 

[china]

This topic has sparked amazing interest and hence whether it takes off or not, is feasible or not, I am sure money will and can be made out of it. Any idea that attracts attention will generally make some money. Whether it gets discredited quickly is another issue.

Reno funder joined the forum as a new member around 10am today and by about 9pm tonight has made 44 posts - is this a record?

 

[see_change]

One final thought RF

It is an interesting idea and might have some potential BUT

If you feel you need to pitch this concept to people who you have never met , on a forum you don't frequent , IMHO , you don't have the experience or ability to carry it off.

The manner of your responses to the members here , only reinforce my thoughts. If I was in your situation I'd me looking at flipping the idea , but then again it's not a concept you can copyright .

Having said that good luck . It will be an interesting learning experience for you .

Cliff

 

[vaughan]

Nobody has mentioned the fact that the poor vendor will have to live in a building site (or find alternative accommodation) for however-many-months while the renovation is taking place...

Try putting something up on Kickstarter.