# Forum Forum Help Desk Introduce Yourself  G'day, Help a lad out & the Beer is on me...

## TG1979

G'day aspiring & successful renovators/developers... 
About me: My name is Trent. 30yo and soon to be married (Jan 2010). I want to be a 'successful' property developer full-time by the end of 2010/11. I've not had any experience with Property Development because I've been a desk jockey for the Gov for the past 6yrs. Though I'm not one to shy away from a challenge.. lets face it, marriage is no walk in the park  :Wink 1: .  
So, before running head first into unfamiliar territory, I want to plan it out as comprehensively as possible - I'm not one to leave things to chance or to let it all creep up on me. So here I am to learn from all of you & to ask a few questions... *help a lad out & the beer is on me!* 
Q1) Is there any (cheap) software out there that you might recommend to assist with a Property Development Project... i.e Budgetting and/or Project Management software that is focused towards property development. 
Q2) Best websites/online resources for research - Property price indicators/Areas of property growth (i.e where to buy, when & how much for)...  
Q3) What would you recommend as reference material or books that are useful.. i.e a step by step guide to development - Something that details the individual stages of property development i.e buying, planning, demolition, construction/value adding, materials & labour, contracts, fees (and the list goes on) all the way to selling. 
Any assistance is genuinely appreciate... I plan on being here for a long time so I am sure I will get the chance to help you all out as much as you help me! 
Cheers,
Trent

----------


## rrobor

I think you may be looking at it the wrong way. I would believe its more of a touchy feely thing than a science. You got to be able to see the potential and understand the market. Best at it Ive seen on TV is Sarah Beeney, she seldom gets it wrong.  And in buying property,  well if you see the post  "Come and see my slum" That guy is spot on the money,  Good house, good area, presented like a pig sty.

----------


## Glider

:Iagree:   Trent, I like your vision. However, don't ever get into a business you don't know anything about. If you want to get into property development, get a job with a developer or possibly a real estate company and have someone pay you while you learn the trade. The property business is way down due to the GFC; finance is impossible & the market is stagnant. Sorry to be a wet blanket mate. Keep the dream alive. BTW, you will also need a significant grubstake, so keep saving. :Biggrin:

----------


## Master Splinter

I think your success will depend on the skillset and contacts that you have. 
If you are familiar with home repairs, and intend to do a lot of the fixing up yourself you'll have a sound base to work from - you'll be able to look at a rubbish bathroom and realise that for about $2000 in materials and a few weekends of your time, you'll be able to bring it up to current expectations. 
But if you have to rely on a stack of tradies to do all the work, then you are looking at either $20k for one of the all-in-one 'We start on Monday and we are out by Thursday' type companies, or $10k and lots of arranging various tradies to (hopefully) do their bits in a timely manner. 
I second that comment to look at the 'see my slum' thread; that's a good example of doing up a house with a considerable amount of sweat equity. 
In the end, it'll all depend on your cashflow - the discounted rent from tenants while you do the place up sounds like a good way to start, as at least you are getting some money while you are learning. 
You could use the technique that my (ex) sister-in-law had for getting houses done up... it involved a lot of horizontal negotiations with either a sugardaddy no-interest loan source...sorry, boyfriend, or with a suitably qualified (ie 'spunky') tradie boyfriend with a good network of other tradies to call on for cash jobs at mates rates.  This approach may not meet with approval from your soon-to-be wife, however.

----------


## TG1979

Rrobor - Sarah Beeney is my hero... She's spot on everytime - I watch Property Ladder religiously & that is where we have gotten the inspiration from. As for it being a science vs touchy feel, I think it's a good blend of both - If I can calculate the viability of a development, then that will give me an understanding of the boundaries I can work within to explore my creative side, yet still appealing to the masses.

----------


## TG1979

Glider - I'm fortunate enough to already have substantial finance - Banks are throwing money at me because I already own my property in Canberra - so I have plenty of equity. You're not being a wet blanket at all... I appreciate the impact of the GFC on property so that is why I thought now is the time to get some property because as I understand it, the property market (in Aus) is recovering (albeit, slowly). My venture is scheduled to begin in 2010, so I am hopeful that I will be in & out of my first property by the end of that year. Thanks for your thoughts, I will keep my finger on the pulse between now & the beginning of my venture to make sure I am going into it at the right time. Property experience is something that I will get by getting my feet wet, so I don't really want to stand on the sidelines learning & miss the opportunity seeing how it's done first hand - I think it's a baptism of fire, but one I am willing to go through.

----------


## TG1979

Headpin - buying something reasonable that offers potential in a high growth area is the foundation of my venture - I have done a fair bit of research (I'd still like to do more) into areas of growth (median house price increase) and what the profit margins would be... I LOVE your quote "Success truly is the result of good judgment. Good judgment is the result of experience, and experience is often the result of bad judgment" - is that your saying or did you hear it from somewhere, cause you should copyright it if you can  :Biggrin:   I agree with it, the biggest mistake you can make is not learning from your mistakes... I'm sure I'll make a few, nobody is perfect, but I will at least have realistic expectations for the venture

----------


## TG1979

Master Splinter - I have a lot of sweat equity (again,, what a great saying!) - I'll be going part-time in the Gov job I have so that I can put in as much time as possible into the property. I'm not afraid of hard work so that will get me a long way - alas, I will have to rely on tradies to do most of the work  (I'm a complete novice, so I'll be learning lots) - My time will be in demolition & finishing - Will certainly be looking at the 'See my Slum' Thread. I don't plan on renting it out as it will be a projected turnover of 3-4mths per property.

----------


## TG1979

Alas, I'm still keen on Software to help out (I like to plan so I know where I stand & the dependencies on each job and how things will impact on my time line) 
Any ideas, suggestions?

----------


## TG1979

And in buying property,  well if you see the post  "Come and see my slum" That guy is spot on the money,  Good house, good area, presented like a pig sty.[/quote] 
Can't find his thread. Can someone post a link?

----------


## watson

Try the "Go to Whoa"  Forum....Canberra.....

----------


## watson

Sorry Trent..I was running around like a "cut cat"
Here's the link.  http://www.renovateforum.com/f176/my...project-78669/

----------


## TG1979

> renovate over a extended period of time and then had the place revalued and then used the equity gained to help finance the next one. 
> Now, how about that beer?

  That's an excellent idea & one I will have to investigate...  
I'm in London at the moment (been travelling for 12mths around the world) So, when I get back to Aus I'll let you know about when the beer is on ;-) 
Will PM you soon too as I'd like to hear more about your situation.

----------

