I love this video, thanks so much. Give me hope for a highschool drop out, with a physical disability, coming from a war torn country. I had the vision before but this give me some structure. God bless you!
The best property developers video. Thanks for the great information. The way you deliver is absolutely perfect, clear especially for some listener with English as their second language.
Steve, is this program applicable in the states? We operate a real estate investment business where we syndicate large aparmtent buildings to hold, renovate and sell residential property and broker private money loans. We are looking to move into more of ground up development and commercial redevelopment and have some interest in your course. Thank you
Thats a great Video Steven! I'm studying Bachelor of Property and Real Estate at Deakin in Melbourne and find your videos really helpful as they are more pratical than my course. I had a question, in a situation where all the financing is done by the partners(have no involvement in the project) and the developer carries the project with none of his finances involved. What will be a typical Developer/Partner ratio in this kinda situation?
Mark, thank you for your kind words. Where the developer has no equity in a project and there are investors that provide the equity necessary to undertake the project (a model I like) the profit split can be done in many ways. As this is purely a commercial deal structure it is simply what can be agreed between the parties. Generally speaking, the industry says that the investors receive a nominated IRR over the development period and anything in excess of that IRR is shared between the parties (as a success fee). The developer gets paid fees for creating the deal, finding the site and managing the project. I'm happy to further elaborate if you wish. Simply email developer@propertydevelopmentinstitute.com and I will get back to you.
Thanks for Sharing. This is what i need now. I Also invole in real estate business; if u have chance to visit Vietnam, please let me know. I will more than glad to take you around to see the market.
Great info. I’m a local builder here in Virginia (small single family homes) but 137 acres just came on market for sale I want to buy and develop. I’m going to submit a contract with contingency’s. I will start looking for subdivision financing, I have good credit, I’ve never done this before, any recommendations? Thank you
The critical thing to do is learn before you do. I always suggest to people that they start small and grow the size of their projects progressively. As a builder who became a developer I know that the mindset of a developer is completely different to that of a builder. Developers look "big picture" whereas builders look at detail. A developer must always look at the big picture otherwise they will miss critical economic and market related issues that will affect their project. Drop me an email at developer@propertydevelopmentinstitute.com and we can discuss this further.
Hi Feedsunj, thank you for your comment. No I have not thought about Dubai. When developing property it is always best to only focus on a market that you know and understand. I have many development opportunities in my home city and country to look at without having to look offshore. Have you looked into property development in Dubai? What opportunities are there for you? A word of caution though, if a market is already "hot" it may be time to stand back and watch what happens. Certain cities in Australia have been "hot" for some time but are cooling off. Developers with current projects in construction are facing settlement risk (where purchasers do not complete the sale process) meaning the developer may not be able to pay off their debt. Development funding differs in various countries so you need to understand how development works on many fronts.
Yes. We did research into town planning in some areas of the USA prior to creation of the course. If you have further questions feel free to contact us at developer@propertydevelopmentinstitute.com
@Steven Chandler What about land ? I have some land that I will like to do some developing on. Not just a few acres either, I'm talking enough acres to build a small town. Any advice ?
Great question Goal Hitter! To get started I have to ask you some questions. The first question I have is what zoning does the land have? Residential, commercial, industrial etc. Each locality has different descriptions of what can be developed on teh land so check with your local authority or council. Given that zoning, what type of development is permissible? For example, residential development could be categorised into low density, medium density and high density. From here the next question is what does the market demand in that area? Whatever you develop you either have to sell (at a profit) or lease (at a good return) so you must know what the market needs. There's no point developing apartments if there is plenty of land for housing blocks. And if there is demand for housing blocks, what size blocks are required? There are a huge number of questions that I have for you and your answers will help guide you in the right direction. Feel free to email me some basic information at developer@propertydevelopmentinstitute.com and I will give you some responses that may help to guide you. I am currently putting together a 650 hectare land subdivision project at the moment so your question is very valid for me right now. I look forward to receiving your email.
Thank you for your reply! I will defiantly email you when time permits. I will tell you that I do not have immediate knowledge of the land at this moment. It was inherited to me through family recently and I have not seen it yet. I have no knowledge in this field what so ever, but I have a great vision! I do have a partner and good friend of mines who has some expertise in residential, so he is a little educated in this area. I look forward to communicating with you further in this matter.
Finding a joint venture partner requires talking to people wherever you go and telling them what you want to do. If they are not interested ask them if they can refer you to someone who may be. The more people that know what you want to do the more chance of finding someone to joint venture with. It is called using your network.
Salvatore, the best advice I can give you is that you have to start. If you don't then it will never happen. Start small with an apartment renovation (buy, renovate. sell). This is property development at its simplest form. To be able to do a buy, reno, sell you need to perform the 5 fundamentals of property development, acquisition, feasibility, authorities, revenue and delivery. Before you acquire an apartment you need to be sure that after all your costs you will make a profit from the sale price. To do this you have to do a feasibility that reflects all of your costs and your revenue. Do you need to obtain any authority approvals to do your renovation? What are the building/strata rules in relation to undertaking a renovation of an apartment? Obtaining the relevant approvals to be able to commence your works are critical. How do you maximise your revenue? You have to know what you can sell your completed apartment for and to do so, what the fit out in the apartment will look, and cost, to complete. Then you need your builder to deliver teh renovations for the budget you have proposed. Don't forget your financier! You will need them to find your works. The only the thing to consider is that if your equity ($100,000) is not enough, try doing a JV with someone who is like minded. That will give you $200,000 equity to work with. Again, if this is not enough add another partner. The sooner you start the better.
Harry S when you are good at something you should share your knowledge and experience with others. Property development is a highly rewarding career in many ways and giving people the opportunity to understand what it takes to be a property developer is very worthwhile. Once you get a bit older and have had some good, and bad, experiences, it's time to "give back" to those coming into the industry. What are you good at Harry S? Have you started to help others?
Rod Jones my father never helped me or even gave me guidance. Even now he never talks to me about property development unless I raise the subject. I certainly did start with nothing.
@@SteveChandlerLEFTA At least he was there Steve is my point. You were able to see him and learn from him. Unlike a situation where no father figure is around at all. That's truly starting at 0 my friend...but no need for semantics, I get your point. Good video.
Concentrating on where you start is meaningless. Plenty of people make it starting from 0. I actually see more drive in people that come from nothing rather than the apathetic majorty. Information like this is a gift from someone whos had to make alot of mistakes. Watching your dad may give you the idea but the mistakes are usually made through the journey. I hope you take action and succeed Rod. Lets not concentrate on what we have and where we want to go.
Junaid Iqbal Mohammed Memon Is your training only available in Australia? or worldwide? Watch more here: ua-cam.com/video/Yl7Te1jh-sY/v-deo.html #junaidIqbalMohammedMemon
Thanks for your comment. We confirm that parts 2 and 3 repeat the basics of property development before expanding upon them because it is critical to understand the very basic aspects of property development before you can move forward. Successful sports people practice the basics all the time so that these are imprinted into their psyche before they move on to further improve their knowledge. Have you downloaded our FREE eBook "Property Development For Beginners" from our website www.propertydevelopmentinstitute.com ?
Geoff, how many lives ruined by what? What disaster? Are you talking about the defects in Opal Tower that are promptly being addressed by the developer, builder, engineer and government? If so, although the issues at Opal Tower are affecting the property owners and are disappointing, it could have been a disaster if the developer, builder, engineer and government had not taken immediate action. Everyone involved has not turned their backs on the property owners and are proactively addressing the issue including looking at ways to improve the current approvals process. Can you please clarify your statement?
Developer , dont become with few hours course .. .like you say you gain few years experience in the field , and than you start the business . . .. experince , couses , education ,. experince ... not only the greedy , like you say i like BMW ...hahhah
That was perfect pace. Thank you! I watched so many ridiculous videos before watching this. I'm glad I found this.
Thanks Betty
I love this video, thanks so much. Give me hope for a highschool drop out, with a physical disability, coming from a war torn country. I had the vision before but this give me some structure. God bless you!
The best property developers video. Thanks for the great information. The way you deliver is absolutely perfect, clear especially for some listener with English as their second language.
Thanks so much Steven for providing a good insight, and inspiring others.
Thank you for this articulate video. now I'm ready to roll
Steve, is this program applicable in the states? We operate a real estate investment business where we syndicate large aparmtent buildings to hold, renovate and sell residential property and broker private money loans. We are looking to move into more of ground up development and commercial redevelopment and have some interest in your course. Thank you
Thank you for this information.
You are welcome!
Thanks for this video
Really good format and delivery.
Thats a great Video Steven! I'm studying Bachelor of Property and Real Estate at Deakin in Melbourne and find your videos really helpful as they are more pratical than my course. I had a question, in a situation where all the financing is done by the partners(have no involvement in the project) and the developer carries the project with none of his finances involved. What will be a typical Developer/Partner ratio in this kinda situation?
Mark, thank you for your kind words. Where the developer has no equity in a project and there are investors that provide the equity necessary to undertake the project (a model I like) the profit split can be done in many ways. As this is purely a commercial deal structure it is simply what can be agreed between the parties. Generally speaking, the industry says that the investors receive a nominated IRR over the development period and anything in excess of that IRR is shared between the parties (as a success fee). The developer gets paid fees for creating the deal, finding the site and managing the project. I'm happy to further elaborate if you wish. Simply email developer@propertydevelopmentinstitute.com and I will get back to you.
Thanks
Fantastic presentation, Thanks Steven
Thanks Luke.
Thanks for Sharing. This is what i need now. I Also invole in real estate business; if u have chance to visit Vietnam, please let me know. I will more than glad to take you around to see the market.
Great info. I’m a local builder here in Virginia (small single family homes) but 137 acres just came on market for sale I want to buy and develop. I’m going to submit a contract with contingency’s. I will start looking for subdivision financing, I have good credit, I’ve never done this before, any recommendations? Thank you
The critical thing to do is learn before you do. I always suggest to people that they start small and grow the size of their projects progressively. As a builder who became a developer I know that the mindset of a developer is completely different to that of a builder. Developers look "big picture" whereas builders look at detail. A developer must always look at the big picture otherwise they will miss critical economic and market related issues that will affect their project. Drop me an email at developer@propertydevelopmentinstitute.com and we can discuss this further.
Thank you
Great video and lovely accent
great ideas very inspiring
great overview...
Hi Steven
Quick question - have you ever thought of developing property in Dubai ?
I hear it's very hot (again)
Hi Feedsunj, thank you for your comment. No I have not thought about Dubai. When developing property it is always best to only focus on a market that you know and understand. I have many development opportunities in my home city and country to look at without having to look offshore.
Have you looked into property development in Dubai? What opportunities are there for you?
A word of caution though, if a market is already "hot" it may be time to stand back and watch what happens. Certain cities in Australia have been "hot" for some time but are cooling off. Developers with current projects in construction are facing settlement risk (where purchasers do not complete the sale process) meaning the developer may not be able to pay off their debt.
Development funding differs in various countries so you need to understand how development works on many fronts.
Is your training only available in Australia? or is this worldwide training?
We have an online course available at www.propertydevelopmentinstitute.com that is valid in most countries.
Would the US be one of the countries?
Yes. We did research into town planning in some areas of the USA prior to creation of the course. If you have further questions feel free to contact us at developer@propertydevelopmentinstitute.com
Thank you for this!
i thank you so much really enjoyed
Roger Mohnani You are welcome!
@Steven Chandler What about land ? I have some land that I will like to do some developing on. Not just a few acres either, I'm talking enough acres to build a small town. Any advice ?
Great question Goal Hitter!
To get started I have to ask you some questions.
The first question I have is what zoning does the land have? Residential, commercial, industrial etc. Each locality has different descriptions of what can be developed on teh land so check with your local authority or council.
Given that zoning, what type of development is permissible? For example, residential development could be categorised into low density, medium density and high density.
From here the next question is what does the market demand in that area? Whatever you develop you either have to sell (at a profit) or lease (at a good return) so you must know what the market needs. There's no point developing apartments if there is plenty of land for housing blocks. And if there is demand for housing blocks, what size blocks are required?
There are a huge number of questions that I have for you and your answers will help guide you in the right direction.
Feel free to email me some basic information at developer@propertydevelopmentinstitute.com and I will give you some responses that may help to guide you.
I am currently putting together a 650 hectare land subdivision project at the moment so your question is very valid for me right now. I look forward to receiving your email.
Thank you for your reply! I will defiantly email you when time permits. I will tell you that I do not have immediate knowledge of the land at this moment. It was inherited to me through family recently and I have not seen it yet. I have no knowledge in this field what so ever, but I have a great vision! I do have a partner and good friend of mines who has some expertise in residential, so he is a little educated in this area. I look forward to communicating with you further in this matter.
Awesome!! thanks
good info
Where to look for a joint venture?
Finding a joint venture partner requires talking to people wherever you go and telling them what you want to do. If they are not interested ask them if they can refer you to someone who may be. The more people that know what you want to do the more chance of finding someone to joint venture with. It is called using your network.
whats your books called boss?
"Property Development For Beginners" available at Amazon www.amazon.com/dp/1482580551/ref=cm_sw_su_dp
awesome
Steve I’m live Melbourne I have 100000 and am 19 could I start with this amount
I want to wealthy one day I’m same like you I love luxury car and life 😉😉
Salvatore, the best advice I can give you is that you have to start. If you don't then it will never happen. Start small with an apartment renovation (buy, renovate. sell). This is property development at its simplest form. To be able to do a buy, reno, sell you need to perform the 5 fundamentals of property development, acquisition, feasibility, authorities, revenue and delivery.
Before you acquire an apartment you need to be sure that after all your costs you will make a profit from the sale price.
To do this you have to do a feasibility that reflects all of your costs and your revenue.
Do you need to obtain any authority approvals to do your renovation? What are the building/strata rules in relation to undertaking a renovation of an apartment? Obtaining the relevant approvals to be able to commence your works are critical.
How do you maximise your revenue? You have to know what you can sell your completed apartment for and to do so, what the fit out in the apartment will look, and cost, to complete.
Then you need your builder to deliver teh renovations for the budget you have proposed.
Don't forget your financier! You will need them to find your works.
The only the thing to consider is that if your equity ($100,000) is not enough, try doing a JV with someone who is like minded. That will give you $200,000 equity to work with. Again, if this is not enough add another partner.
The sooner you start the better.
If you dont succeed at property development, you could always start teaching how to do it...
Harry S when you are good at something you should share your knowledge and experience with others. Property development is a highly rewarding career in many ways and giving people the opportunity to understand what it takes to be a property developer is very worthwhile. Once you get a bit older and have had some good, and bad, experiences, it's time to "give back" to those coming into the industry. What are you good at Harry S? Have you started to help others?
Dude your dad was a property developer.....you didnt start at zero!
Rod Jones my father never helped me or even gave me guidance. Even now he never talks to me about property development unless I raise the subject.
I certainly did start with nothing.
@@SteveChandlerLEFTA At least he was there Steve is my point. You were able to see him and learn from him. Unlike a situation where no father figure is around at all. That's truly starting at 0 my friend...but no need for semantics, I get your point. Good video.
Concentrating on where you start is meaningless. Plenty of people make it starting from 0. I actually see more drive in people that come from nothing rather than the apathetic majorty. Information like this is a gift from someone whos had to make alot of mistakes. Watching your dad may give you the idea but the mistakes are usually made through the journey. I hope you take action and succeed Rod. Lets not concentrate on what we have and where we want to go.
hmmmm, interesting u need to get another D.O.P
Junaid Iqbal Mohammed Memon Is your training only available in Australia? or worldwide? Watch more here: ua-cam.com/video/Yl7Te1jh-sY/v-deo.html #junaidIqbalMohammedMemon
Save yourself 30min, don't watch Part 2 and Part 3: he pitches and repeats the same points.
Thanks for your comment. We confirm that parts 2 and 3 repeat the basics of property development before expanding upon them because it is critical to understand the very basic aspects of property development before you can move forward. Successful sports people practice the basics all the time so that these are imprinted into their psyche before they move on to further improve their knowledge. Have you downloaded our FREE eBook "Property Development For Beginners" from our website www.propertydevelopmentinstitute.com ?
How many lives ruined since this video 3 years ago! What a disaster! Hope you didn’t go into the opal tower!!!!
Geoff, how many lives ruined by what? What disaster? Are you talking about the defects in Opal Tower that are promptly being addressed by the developer, builder, engineer and government? If so, although the issues at Opal Tower are affecting the property owners and are disappointing, it could have been a disaster if the developer, builder, engineer and government had not taken immediate action. Everyone involved has not turned their backs on the property owners and are proactively addressing the issue including looking at ways to improve the current approvals process. Can you please clarify your statement?
Developer , dont become with few hours course .. .like you say you gain few years experience in the field , and than you start the business . . ..
experince , couses , education ,. experince ... not only the greedy , like you say i like BMW ...hahhah