property developments for tourism market

[thehappysecret]

Hello,

This is my first thread on this forum, and I am currently working on a deal for a commercial property that is a resort style home, with a restaurant attached, over 80 acres, previous approval for the development of up to 8 chalets, and huge potential to add value to the property through businesses and dev.

I would like to hear from anyone that feels they can help me on this project. If you have experience working on similar developments, or just have some great advice to share, I would love to hear your thoughts and words of wisdom on the topic.

my email is [email protected] and if you have a moment, check out my website at www.thehappysecret.com, my blog which is about my journey of becoming a millionaire. I am currently 25 and am in debt but have decided I will write a book about becoming a millionaire, tracking my progress over one year to create over one million dollars worth of tangible assets - liquid assets just in case you're wondering.

Anyway, I would love to hear from you if you think you can help!

Regards,
Josh

 

[Glucose]

When you say "working on a deal" do you mean you are planning to buy this property and do the development on it? Run the business? Are you looking at doing this deal on your own, or in partnership with others? Is it already being run as a business - as you say there is a restaurant attached?
Sounds very interesting. Please tell more.

 

[Chris.R_WA]

I would be very interested to know how you plan to fund the deal, considering your current asset base and cashflow? It might have to be a very creative solution...

Also, in your 1 year challenge, is the $1M worth of assets gross, or net (ie equity)? And is that solely your share if the assets are held in partnership?

Sorry, you probably wanted answers, not questions, but I think it is a challenging goal in the contrived timeframe.

Good luck, Chris

 

[Mark C]

Josh,

Love your goals, 1mil in liquid cash!

I believe it's possible, you might even beat it. Being creative pays off big time, money is everywhere when you start looking for it. I make a point of asking nearly everyone who I deal with if they have cash for a deal.

Buying below value on major development sites is possible, making 5mil on a deal after 5 weeks of work can be done.

Mark C

Ps Do you have any money to lend me? Good returns!

 

[thehappysecret]

some more info on my deal and my project

When you say "working on a deal" do you mean you are planning to buy this property and do the development on it? Run the business? Are you looking at doing this deal on your own, or in partnership with others? Is it already being run as a business - as you say there is a restaurant attached?
Sounds very interesting. Please tell more.

I am planning to buy this property with a group of investors, do the development on it, upgrade the restaurant because it is currently just a shell and needs a lot of work, and probably lease out the business/es on the property.

It is a work in progress and does demand a creative solution, but thats what I am good at - fresh ideas and thinking outside the box.

I would be very interested to know how you plan to fund the deal, considering your current asset base and cashflow? It might have to be a very creative solution...

Also, in your 1 year challenge, is the $1M worth of assets gross, or net (ie equity)? And is that solely your share if the assets are held in partnership?

Sorry, you probably wanted answers, not questions, but I think it is a challenging goal in the contrived timeframe.

Good luck, Chris

Thanks Chris,

I plan to fund the deal with no money down and by getting a group of investors together. I already have several waiting for me to get the documentation ready for them to look at, so am in the process of putting this together now.

And I mean $1M net. this will consist of multiple projects - this property, some other business ideas I am working on - and the other property deals on the horizon.

Keep up to date on exactly how I am putting it all together by visiting my website and subscribing to the members area. there is a small cost that goes directly to a charity of your choice, but this is soon to be developed as a complete private website loaded with content and updates on my progress.

Nothing comes to those who wait

Josh

www.thehappysecret.com

 

[APerry]

Hi Josh,

You will need to raise a fairly significant amount of cash upfront for this project. I don't know what your income is like, but I'll assume that it is not significant, you will therefore need to capitalise interest at the start, at least until you get the business portion up and running. I would suggest aiming at about 50% leverage to start with. It would probably also be a good idea to sign up a tennant prior to settling on the property, so your lender can see that there will be income coming in.

I think you'll find that this project will take a lot longer than 12 months by the way, but good luck.

Regards
Alistair

 

[redwing]

Good Luck Josh

When does your Year Start as on the web page it says 411 days to go but Week 5 and 6 are already posted; what is the end Date?

Duh

Found it on your site

This will begin on September 01, 2007.

It will end on September 02, 2008

why the delay, are you looking to get rid of your personal debt so that you start at $0 rather than -$

Not trying to be painful, just looking at how you are veiwing the Challenge


All the best

 

[thehappysecret]

Good Luck Josh

When does your Year Start as on the web page it says 411 days to go but Week 5 and 6 are already posted; what is the end Date?

Duh

Found it on your site

why the delay, are you looking to get rid of your personal debt so that you start at $0 rather than -$

Not trying to be painful, just looking at how you are veiwing the Challenge


All the best

The reason for the delay is so I can plan things and get everything in place before I start the challenge.

I was going to start July o1, and do it as the best financial year yet, but decided it would be wise to give myself a few months to adjust to the new dynamics of working as a contractor and exploring my entreprenueria projects like setting up new businesses and working on property deals like the one discussed above.

As far as the personal debt goes, it would be nice to start this cahllenge at $0, which means I'll have to earn over $30k in the next six weeks, but it was more just giving myself a three month timeframe to build a platform and 'learn the ropes'.

Thanks for the feedback.

Josh

 

[redwing]

*BUMP*

Hey Josh,

Hows the project going?

Just came across this You Tube so checked the site The Happy Secret but didn't seem to be able to see how it was all going

Update us if you get a chance

 

[thehappysecret]

the journey has been incredible. I will easily achieve my million dollar target and have focused on a business rather than property, and will soon have the cashflow to start getting in to property development.

Check out the latest posts on the blog as there is one written for each day to track my progress and share my thoughts.

Thanks for the interest in my project.

www.thehappysecret.com