New Property Concept

Professional savvy renovators, who renovate for profit, will be leading our assessment team, plus the actual renovation company, who can decide on large structural changes.
If they overcharge, they lose all our future jobs. Their loss.
So its actually in their best interest to treat us decently.
 
Always good to see new concepts in this industry, keeps us all thinking creatively to grow and improve the real estate journey.

Hopefully soon I will also share my new concept with the forums and inspire others to do the same.
 
Still haven't answered my initial question - what is your BIO? Do you have experience directing/managing a multi million dollar business such as one you propose?

pinkboy
 
pinkboy said:
Still haven't answered my initial question - what is your BIO? Do you have experience directing/managing a multi million dollar business such as one you propose?

pinkboy
Click to expand...

Hey Pinky

I did answer in earlier thread.
I have zero experience, only know the fundamentals of property, and what, how, why, a good renovation can increase property value.
I have a "sound" knowledge of the industry. But certainly not truly savvy like genuinely employed professional people.
I was simply a home viewer of Selling Homes Australia on foxtel, and my mind starting ticking. One year ago,.
Constant issue on show,,, Vendor cant finance renovation, or has extremely limited budget to do anything.
Problem= need for solution.
Banks= even more problems
I hate banks. Bunch of white collared criminals. (hi to all the bankers on the forum) :)

vendors slave away for banks their whole life.
this concept is all about truly maximising that vendor slavery, FOR the vendor, by helping the vendor in the best way possible.
Renovate, profit, vendor happy.
Renovate, dont profit, vendor still owns home, owes us nothing.


regarding the question, about us committing to a vendor, then us going broke? the only way a reno company even starts, is by us paying them in the first place. Jobs gets done regardless of what happens to us.
If we dont have the funds to give to the reno company, there simply wouldnt even be a start on a project.
We push the finance strongly to reno company, clear that first, so regardless what happens after that, to us as a business, the job is being done by reno company as they were given the funds.
 
new2this said:
Just get the strange feeling your *$90,000* could be done for 20,000 without you......
Click to expand...


20,000, even better. perfect.
the less the better. big thumbs up to that.
the less we have to fund, for a max result, the better that suits us.
problem for many vendors, is they cant even get 20,000. (plus, reno companies scr$w them) this concept makes reno company want to do good job. repeated work opportunity.

so we come along, do a nice job for them at 20,000. max up property as much as possible.
the GOAL FOR US is: spend as little as possible, to increase value of property as much as possible.
But the 2 are related. spend too much, and we only hurt ourselves.
spent little as possible, for awesome result. winner :)
the goal is to increase the margins as much as possible, because we only get 20% profit take on the renovation, post sale. the higher that margin, the better for us.
so simple: spend as little as possible, with the best team possible, for the best result possible.
sadly, this ISNT a scam. hehehehe. finally an idea thats actually all about win/win/win, for every party.
hence the reason this concept is about to revolutionise entire industry.
 
new2this said:
Is the investor that is going to supply your funds a Reno company?
Or in any way associated with one?
Click to expand...

No. Reno Funders have to choose reno company based on this criteria

1:performance based on maximising property value, for as little budget as possible (just as any vendor aims to do).

2: ongoing work opportunities based solely on their ability to maximise a homes value, by expecting as little amount of money as possible, and returning the best result possible. there will be thousands of vendors signing up, so only the BEST reno companies will be able to stand up and meet the criteria.

Investors are just that, investors. seeking profits.
Reno Funders is the new middle man in the industry, with intricate detailed dealing with agent, vendor, and reno company. to make sure every party helps maximise the vendors property, for as little cost as possible.
The less funds we spend, for the best result we get, the better that suits us as a business model.
as long as our assessment team do their job, eg, sometimes even add a granny flat, if they help maximise property, their job is being done correctly.
 
MTR said:
My first question would be - how can you possibly stay in business with this model, you are the bank, and dependent on sale of a property at the right price/values come in at the right price? That's why no one is doing this, it would be financial suicide.

You have a couple of projects that go wrong, and it will be the owner who is at risk from the implications of this scenario, especially if you have a few on the go.

Personally, I would not be interested in this, I don't like the fact that I have no control over the project, budget blowout is one issue but blow out in timeframe is something that would hurt my pocket and of course too much risk here.
Click to expand...

The success of this scheme depends on reno funder being:

1. familiar with the locale and pricing of a particular market
2. having the expertise to see what properties will benefit from a reno and is underpriced to begin with
3. having a reno team that works to time and produces quality work within budget

These are the fundamental issues wherein either reno funder brings the expertise as detailed above or his company will collapse quickly.

Having said that, I think that this is an exceptionally attractive proposition for anyone who wishes to renovate for profit.
 
Reno Funders said:
Incorrect. We are more than just a mere bank. banks dont give a damn.
We are INTRICATELY involved with the renovation itself, and with the renovation company
Banks know bugger all about property renovation and its elaborate detail to push property into profit.

By the way, if you own a $1.5 million dollar home in Brighton, Melbourne.
Dont worry, we would probably bulldoze the whole house, if permits enabled us to, and build a $2.5 million home for Vendor.
Oh and whoops, we didnt pay capital gains tax. Umm, thanks for that. :)
Click to expand...

Hi RC

Do you really think that anyone who owns property at this entry level ($1.5M+) would need/use this service? Do you really think they would want to give you a bite of the cherry, I seriously doubt it.


Cheers, MTR
 
china said:
The success of this scheme depends on reno funder being:

1. familiar with the locale and pricing of a particular market
2. having the expertise to see what properties will benefit from a reno and is underpriced to begin with
3. having a reno team that works to time and produces quality work within budget

These are the fundamental issues wherein either reno funder brings the expertise as detailed above or his company will collapse quickly.

Having said that, I think that this is an exceptionally attractive proposition for anyone who wishes to renovate for profit.
Click to expand...


Hi China
I do not see this as attractive, I see this as high risk and it is naïve to assume you will pay less for the renovation, more mouths to feed more fees involved. As mentioned the middle person has no expertise in this area.... does that not ring alarm bells, it does for me.


Cheers, MTR
 
This thread must surely have been of use to Reno funder in terms of nutting out intricacies of his proposal and having free brainstorming / troubleshooting - free of charge.

I would be very keen to see a contract drawn up detailing the specifics mentioned in this thread which seem to be quite vendor friendly and then possibly proceed with submitting my property for assessment.
 
Thats exactly right.
All the standard fundamentals of increasing property value still apply.
Not over capitalising.
Choosing suitable locations. City, inner suburbs, or desirable booming outer suburbs, depending on streets. near transport, shops, etc
Gone will be the day where you choose the worst home in the best street.
We may end up choosing the worst street in the best suburb, and renovate the entire street, to turn it into the best street.
Thats how many vendors we know we can obtain (something I personally know, as I tested the market and I got totally swamped with vendors in just one week) (even agents writing to me very keen. which is very rare, considering agents are protective of vendor. so very good early signs for concept)

My background is media, by the way.
So Im going to swamp the whole market with this, in the media.
As said, anyone who thinks they can be a resource(not financially), then by all means send me a private message.
 
MTR said:
Hi China
I do not see this as attractive, I see this as high risk and possibly more costs involved as you have a middle person who has confirmed that they have no expertise in this area.... does that not ring alarm bells.

Cheers, MTR
Click to expand...

There must be many people who have an excellent business idea but lack the expertise to bring it to profitable fruition. The ideas man must then build a team to help him with investor sourcing, fund raising, reno team co-ordination, advertising, contract signing, etc. A bit like Bill Gates or Mark Zuckerberg when they began.
 
MTR said:
Hi China
I do not see this as attractive, I see this as high risk and possibly more costs involved as you have a middle person who has confirmed that they have no expertise in this area.... does that not ring alarm bells.

Cheers, MTR
Click to expand...

Most entrepreneurs dont necessarily pilot a plane, hammer a nail, have "experience" in chosen industry.
My power is my ability to convey a message, sell a service, create a new revolution, swamp the media with it.

Cost involving a middle man?
What cost?? VENDOR DOESNT outlay one red cent.
Cost risk sits with us and us only.

Show me a dozen vendors in 5 minutes who can afford a $40,000 renovation, and I will show you a pig that can fly backwards. MOST vendors cant afford to go to banks to go into further debt.
This is all about avoiding further debt, and actually maximising your biggest investment. Your property. Without even risking a cent.

And by the way, since when has anything incredible in this world, even been achieved without a risk?? Fortune favours the brave.

The risk and evaluation of property potential will sit with our team(of professional assessors). A team which you could be on by the way. The doors are open.
 
Talk about scam, greed, schemes, all you want. I would challenge you to, because I despise greed. This concept was born out of goodwill, coz Im a decent human who thinks banks are greedy scum (hi again to all the bankers out there).
Im batting for the battlers.
If someone wants to enter our great country and buy a home, they are going to be buying our vendors newly renovated homes at a far greater price.
So dear foreigners who are helping make our great country even greater,,, big big welcome. Opens arms, open doors, to awesome renovated homes. Existing vendors cashing in at profit :)
Bank slavery being more rewarded for Vendor.
 
Reno Funders said:
Talk about scam, greed, schemes, all you want. I would challenge you to, because I despise greed. This concept was born out of goodwill, coz Im a decent human who thinks banks are greedy scum (hi again to all the bankers out there).
Im batting for the battlers.
If someone wants to enter our great country and buy a home, they are going to be buying our vendors newly renovated homes at a far greater price.
So dear foreigners who are helping make our great country even greater,,, big big welcome. Opens arms, open doors, to awesome renovated homes. Existing vendors cashing in at profit :)
Bank slavery being more rewarded for Vendor.
Click to expand...

You don't even know foreigners can't buy existing property! I think you are out of your depth to be frankly honest. You might need a year or 5 to research before tackling this one!

pinkboy
 

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