Your suggestions required ? career change

[mflying]

Hi SSers,

I have been tossing around this idea for a while but can?t make up my mind on it so I have decided to resort to fellow SSers.
I have thread of my journey so far here (for background info)
http://somersoft.com/forums/showthread.php?t=106768

Current situation:

I am working full time (very time consuming and responsible role)
Intense overseas and domestic travel
Do property development on side
Help others to find suitable development sites
Study (finished REA course and now looking at mastering NCC)

At times it becomes too much to do in a week and it is getting harder to juggle all above with 2 hands and one very tiny brain

Ultimate goal:
I am working towards just being a full time developer and give up my beloved Day time job forever.

Hurdle:
If I give up my day time job right now, I will have to put breaks on property development for at least 2 years, (due to self-employed finance difficulties and restriction). I am not to keen to do that for time being. Especially have two sites on the go at the moment

?May be? solution to situation.

Apart then skills that required for my day job. I have good skills at locating good development potential properties and building development knowledge.
I have helped few SS members, and friends to find development potential properties and they paid me whatever money they thought appropriate for my work.

I have certificate of real estate and required qualification to start buyer?s agent business.

If I embark on journey to be buyer?s agent, target would be:
? Focus on development sites only (i.e ppl who are looking in to Becoming a developer)
? Share complete knowledge of property development

To get above business going, I can hire people to work for me to service potential BA clients.
And
I can still keep my day time job or go part time on my current work.

What?s your thoughts?

 

[D.T.]

Keep developing within an entity thatll have 2yrs worth of profits to demonstrate so that you can leave job and go directly

 

[Strannik]

i'm not quite sure i understand your plan in case you do quit your job.
so you are saying you won't be able to do development for at least two years.

which leaves:

Help others to find suitable development sites
Study (finished REA course and now looking at mastering NCC)

are you planning to turn first one into a full time business and hope it will bring you enough money so you can resume property development?

 

[Brady]

Sounds like could be a good blend of a builder broker & BA.

If fully disclosed could be paid via the client for the purchase of the site and by the builder that they proceed with. This model would only work if you were able to buy great sites, people would be happy to pay for that. And you relationships must be good with builders to get great price that they proceed with your builders with enough fat for you to get paid.

Note you shouldn't lock them into using your builders, should only be if your builders came in better priced/quality (including your payment).

I would be happy to use these services if the $$$ stacked up. People are happy to buy development sites if the $$$ match up. And if you're being paid by the builder who cares long as the final price is cheaper than what I could get.

 

[Shahin_Afarin]

I think there is a gap in the market for BA's that assist with not only finding development sites and also handing holding people through the process (DA/CC, construction, OC, etc).

Over the past 6 months I would say 50% of my clients are small-medium developers whereas 12 months ago it would have been 5%.

Not sure why there is such as increase but plenty of people who want to get into the game but lack the knowledge.

 

[sanj]

I think there is a gap in the market for BA's that assist with not only finding development sites and also handing holding people through the process (DA/CC, construction, OC, etc).

Over the past 6 months I would say 50% of my clients are small-medium developers whereas 12 months ago it would have been 5%.

Not sure why there is such as increase but plenty of people who want to get into the game but lack the knowledge.

Agreed. I too have toyed with doing the same in a more formal capacity but keep getting distracted by other business opportunities atm, maybe next year.

Incidentally a huge increase in number of mum and dad developers who don't really know what they're doing is usually a sign the market is about to turn imo, I've certainly noticed that happen in the 2 cycles I've been involved in in perth

 

[Angel]

Incidentally a huge increase in number of mum and dad developers who don't really know what they're doing is usually a sign the market is about to turn imo, I've certainly noticed that happen in the 2 cycles I've been involved in in perth

Turning good or bad, Sanj?

 

[Scott No Mates]

Turning good or bad, Sanj?

Just waiting on the taxi drivers to start recommending development sites. Then you'll really know which way the market is about to go.

 

[mflying]

Sounds like could be a good blend of a builder broker & BA.

If fully disclosed could be paid via the client for the purchase of the site and by the builder that they proceed with. This model would only work if you were able to buy great sites, people would be happy to pay for that. And you relationships must be good with builders to get great price that they proceed with your builders with enough fat for you to get paid.

Note you shouldn't lock them into using your builders, should only be if your builders came in better priced/quality (including your payment).

I would be happy to use these services if the $$$ stacked up. People are happy to buy development sites if the $$$ match up. And if you're being paid by the builder who cares long as the final price is cheaper than what I could get.

idea is to be Android (open end) not Apple (close end).


Problem i see in BA business (especially for development sites)..

where does the engagement ends?


As BA, one meant to find a site suitable (or as per instruction) for client.
once site is bought. most customers wants BA to hand hold them thru build /development process.


i helped few ppl to find good deve sites but now under pump to sort of help them with building/development process.


it should be

X amount for finding sites
y amount for assisting development process

What's your thought?

 

[mflying]

Agreed. I too have toyed with doing the same in a more formal capacity but keep getting distracted by other business opportunities atm, maybe next year.

it is time consuming. most newbie developer wants you to teach and explain every little thing related to development and not pay the money for time and effort!

Incidentally a huge increase in number of mum and dad developers who don't really know what they're doing is usually a sign the market is about to turn imo, I've certainly noticed that happen in the 2 cycles I've been involved in in perth

same is happening in sydney.. look at most southern and western part of Sydney!