Yes the control room is located in a property worth $2 million which is in the top 2% of all properties in Perth.
That is what property investment/development has done for me. I have another 8 unit project in the works as we speak.
Keep trolling, I'm sure you will get over the inferiority complex and tall poppy syndrome one day.
OK, so you create forecasts and you're also a wealthy property developer. Cool. I'm impressed.
Not sure why you consider "trolling" to be the same as calling bluff on your forecasts. However, you're more than welcome to outline your model to show that you're not full of earwax. I think I'm reasonably well equipped to deal with the complexity of your framework and you don't have give away any of your proprietary secrets.
Strange action for someone who has declared themselves bearish mike.
Strange also you think it's over. I was thinking we were on the cusp of the rollercoaster.
Depends on what price I secured the land and the construction costs. The land itself was almost $200k off the asking price.
The building contract, I got builders to reduce there initial price by almost $500,000 plus throw in a bunch of extras through a competitive tender process.
It does not matter what the market is doing, it is what price you can buy at any given point.
Now is the time to buy if you are a developer, lots of nice blocks of land and likely to be a good time to buy for the next 6-12 months.
I hope to secure another block of land in 6 months once construction is well underway for the next development. I just hope prices for land keep falling while I am busy building this one.
I am bearish and still am, but this is me making money in a bearish market. As I said a few years back, I have made most of my money in bearish markets. The price reductions you can squeeze out of land holders plus builders is huge.
Depends on what price I secured the land and the construction costs. The land itself was almost $200k off the asking price.
The building contract, I got builders to reduce there initial price by almost $500,000 plus throw in a bunch of extras through a competitive tender process.
It does not matter what the market is doing, it is what price you can buy at any given point.
Now is the time to buy if you are a developer, lots of nice blocks of land and likely to be a good time to buy for the next 6-12 months.
I hope to secure another block of land in 6 months once construction is well underway for the next development. I just hope prices for land keep falling while I am busy building this one.
I am bearish and still am, but this is me making money in a bearish market. As I said a few years back, I have made most of my money in bearish markets. The price reductions you can squeeze out of land holders plus builders is huge.
By the time you're finished, you'll have carved a nice little empire giving you more time to work on those forecasts.
Depends on what price I secured the land and the construction costs. The land itself was almost $200k off the asking price.
The building contract, I got builders to reduce there initial price by almost $500,000 plus throw in a bunch of extras through a competitive tender process.
Perth median land prices have increased from $265,000 to $295,000 over the December quarter. This represents price growth of 11.32% over the 3 months. The main driver is higher levels of construction which has reduced the number of good located blocks of land to build on.
So are you saying that land prices have crashed? Are you saying that construction is in a big slump (why else would a builder reduce his price?).
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Depends on what price I secured the land and the construction costs. The land itself was almost $200k off the asking price.
The building contract, I got builders to reduce there initial price by almost $500,000 plus throw in a bunch of extras through a competitive tender process.
It does not matter what the market is doing, it is what price you can buy at any given point.
Now is the time to buy if you are a developer, lots of nice blocks of land and likely to be a good time to buy for the next 6-12 months.
I hope to secure another block of land in 6 months once construction is well underway for the next development. I just hope prices for land keep falling while I am busy building this one.
I am bearish and still am, but this is me making money in a bearish market. As I said a few years back, I have made most of my money in bearish markets. The price reductions you can squeeze out of land holders plus builders is huge.
As you know, past performance .....
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
So are you saying that land prices have crashed? Are you saying that construction is in a big slump (why else would a builder reduce his price?).
If you follow the developer market which clearly you do not, you would have noticed a large uptick in listings for large blocks of land with DA approvals in place over the past 6 months. I can only assume these are forced sales due to change in economic circumstances for the owner. My particular block of land I secured for a large discount due to the owners own personal reasons, plus the fact none of these large blocks are moving. I don't need to wait for prices to fall 20-30% as you can get those prices now if you find a motivated seller.
The building Industry is still very busy but mostly at the tail end or mid cycle of construction projects. The signing up of new construction projects is now slower so builders are starting to offer very good deals. Also when you are building higher volumes I obviously have a lot more economy of scale as does the builder to offer price discounts. You wont get the discounts I get for a single construction.
The savings I make mean I can offer a far superior product to the competition around me for the same price. What I build is affordable high quality housing and at present I can build them cheaper with much more in them then developers who started projects 1-2 years ago. The buyer gets far more for their money and I turn projects over quickly by selling quality product for very affordable prices.
Find the right seller now and you can get the discounts you want 20-30%. Why wait for a crash they may never happen, I can get much lower prices right now.
newjez
26 Sep 2015, 06:23 PM
As you know, past performance .....
Well the last time I bought large blocks of land and multiples of them was 2011 prior to that 2008/9. When the market is slow or falling I buy, I don't wait for some mythical bottom of the market. Time is far more important to me, by the time the bottom of the market is readily recognised it is often 6 months past the date and I will have built and sold a few times while others wait, wait and keep waiting.
Look at land listings, they keep rising. People who want to sell land right now will accept much lower prices, you just need to find the right sellers.
If I could snap up another large block I would do it now as I do not know what this new Turnbull Government will do, they may roll out construction stimulus or change taxation laws which give wind to new construction and hence prices. But this gives me two large builds to work on over the next 9 months or more so it will keep me busy enough.
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