Developing For Profit

How to make a profit and avoid the pitfalls with sensible property development

Everyone knows that the really big gains in property investing are made in development. Imagine finding or creating a free block of land! Wouldn’t that make a difference to your property portfolio! Wouldn’t that lay the foundations of your financial future!

The capital gains that just any ordinary homeowner can get aren’t there at the moment. This means you need to know confidently and conclusively how to create your own capital gains, rather than wait for it. You need to know how to uncover and utilise a free block of land, how to create multiple streams of income from the one property, how to capture and capitalise on growing niche market areas, how to create positive cash flow – but equally important, how to do all this and avoid the pitfalls.

There are plenty of pitfalls when it comes to developing property that can cost a developer a lot of money and man hours. The sad thing is until now you could not avoid the pitfalls unless you had experienced them already and knew what mistakes to avoid, or by employing project managers, but this eats heavily into your profit and even then they still require your input.

But what if there was a solution that could fast track your development education by years in just two days?

Well here it is!

The Reno Kings have assembled their team of highly experienced development consultants and investors to bring you Developing for Profit, a two-day ‘everything you need to know’ workshop on all things property development to be held in Brisbane on 17th and 18th October 2009. Investors no longer need years of development experience to avoid making costly mistakes...

You learn from our mistakes and the mistakes of others!
The Reno Kings' team of ‘hands on’ experts are going to show you what the hidden mistakes are and how to avoid them so you can maximise your profits right from the very start! In fact, the Reno Kings believe both experienced and inexperienced developers will benefit from the information available at this workshop. The experienced developers already know that if they pick up just one good idea the workshop will pay for itself many times over.

• You can make huge profits from property development.
• You can avoid the costly mistakes.
• And you can do this sooner than you think!

Hold and Pray
Home owners often wait for their property to grow. We call it the ‘hold and pray’ method. They hold it and pray it goes up in value! No way! Professional property investors create their own growth with one or more of the Reno Kings value adding strategies. Sensible, controlled property development is one such strategy they use. This is what sets them apart from the average home owner.

‘Developing for Profit’ will show you how to create your own profits through property development. It will do so by:

• Following the 10 key stages of property development
• Using highly experienced people to educate you on the 10 key stages.
• Showing you where profit is often lost during a development
• Helping you to recognise the pitfalls in order to avoid them

Take a common scenario
An investor wants to develop and sell units. They locate a site that can be developed for 5 units. They know this because they checked the zoning with council and their friendly real estate agent explained how you work out the number of units that can be built. This investor then quickly places the property under contract in their own name, conditional upon finance. While waiting for finance the investor starts speaking with some builders to try and work out their feasibility.

So far the investor has not even gone unconditional on their contract and they haven’t completed a single stage of the ’10 key stages of property development’, yet they have already made 5 critical mistakes that could spell disaster. In fact, any one of these mistakes alone could be the difference between making a profit and being scarred for life by the financial and emotional pitfalls.

If you cannot pick all 5 of these mistakes then you need to attend this workshop.

Here’s one mistake to get you started... they checked the zoning with council... yet isn’t what we are meant to do???

If you can pick the mistakes then you are one step closer to being a developer, but if you don’t know why they are mistakes or the magnitude, then you need to attend this workshop.

After all, just one mistake can be the difference.

There aren’t that many people who can afford to make a loss on any investment, let alone their first development, so the cost of not gaining the right education can be devastating. We have witnessed firsthand the unfinished disasters of underprepared and undercapitalised, inexperienced ‘wanna be’ developers. It’s not a pretty ‘site’!

It is for this reason that Developing for Profit is invaluable.

For example one small thing Geoff Doidge learnt recently was how to get a $15,000 tax write-off from one of his development sites... and he hadn’t even employed a builder! The scary thing is had he missed this, he may never have even known and therefore repeated the mistake time and time again.

You will learn this at the workshop along with hundreds of other valuable tips to help you avoid the pitfalls and increase your profit.

It is difficult to put an exact value on some of the information you will learn, but no doubt it could save or make you tens of thousands of dollars, if not hundreds of thousands. Take a look at these examples from just one specific development site:

• Three builders recommended by the architect quoted for the construction of a development site. All came in well above what was expected. After discussions with a company that specialises in sourcing the right builder, this developer saved over $300,000 with his next construction quote.
   
• One comment from Michael Matusik turned this same development site from having an 11% profit margin into one that can be held with a 7.5% rental return and a 27% equity increase (that’s a total of $500k of extra equity over the first scenario that can be put towards another project!)

That is $300,000 saved and $500,000 more equity out of just two ideas this developer learnt ‘on-the-job’ and which you will learn at this workshop. This means you do not have to be halfway through a project before you are forced to either change direction (and lose time and money) or even worse… walk-away.

What’s more, these insights come from just two of the 13 speakers that will be presenting over the two days of this workshop and they have much, much more valuable information than this to share!

Here are just a few of them:

• How to maximise profits by selecting the right entity before you buy
• How to claim thousands of dollars in tax write-offs before you even lift a hammer
• How to save as much as15% on construction cost
• The dangers of using your architect’s panel of builders
• Understanding development approval stoppers - the essential check list to save you time, money and heartache
• The five steps to getting your building approval through faster and at the same time saving money
• How Michael Matusik turned a development site from an unprofitable walk-away into a high yielding project
• How one investor developed executive townhouses in an exclusive suburb without paying the builder a cent
• How Geoff Doidge made 45% on a development site in only 18 months without employing a builder
• Along with many more time and money saving ideas, deal making tips and deal breaking traps to avoid

Meet your development A-Team

Kerrie-Anne Bailey

Kerrie-Anne Bailey has over 14 years experience in providing tax and business advice to clients.

Kerrie-Anne has operated her own accounting business for the last 7 years specialising in taxation, superannuation and business advice.  Prior to this she worked with a number of large accounting and legal firms in Sydney where she specialised in tax structuring and advice.

Kerrie-Anne is uniquely qualified, being a Chartered Accountant and Solicitor, having completed studies in commerce and law. Kerrie-Anne has also completed a Masters of Law (Taxation) at the University of Sydney, and is a Fellow of the National Tax and Accountants Association.

Kerrie-Anne’s business, employs only Chartered Accountants, so you know your business is always in the best possible hands and that every member of her team can help with your enquiries.

 
Michael Matusik

Matusik Property Insights are real estate strategists specialising in new residential development advice.

With few independent services available to the residential development industry, Michael Matusik founded Matusik Property Insights in the late 1990s. Matusik provides strategic residential property advice to development firms, financiers, the government, industry bodies - and in some cases, individuals.

At last count, Matusik has helped around 400 new residential developments come to fruition.  Think:  Sanctuary Cove; Brookwater; North Lakes or Cutters Landing, to name just a few.  This is a highly focused boutique operation which is passionate about what it does.

Matusik is an active member of many industry organisations including the Urban Development Institute of Australia; the Property Council of Australia; the Brisbane Development Association and the Master Builders Association.

Michael is the director of Matusik Property Insights; he gives around 50 presentations a year; is a weekend commentator on 612ABC; is (sadly) the public face of Matusik and is author of the Matusik Snapshot newsletter, among other things.

Shane Smith

Shane is considered a very valuable consultant to his clients, being qualified as both a Town Planner and a Surveyor and having a wealth of experience behind him, including being hand chosen to work for the Icelandic Government.

Shane is involved in town planning and environmental management services where he is instrumental in assisting clients to achieve development approval for projects in South-East Queensland. Some of his major residential subdivisions include Mango Hill, Poona Bay, Pebble Beach and preparing community plans for developments around South-East Queensland.

Shane’s surveying expertise led him to be selected in 1986 to help the Icelandic Government to conduct a detail control survey of the Icelandic Plate in order to monitor its movements.

Robert Balanda

Not only is Rob a well respected solicitor, he is also a property investor, author and legal educator, so he knows how to walk the walk and talk the talk.

Rob has 30 years of experience, both in NSW and QLD, and during this time has been involved in just about everything, from lecturing TAFE students through to educating some of Queensland’s top Real Estate agents via the REIQ.

Rob practices principally in the areas of management rights, business law, asset protection, property strategies, and commercial conveyancing.

Rob is also the author of multiple books, including his top selling book “Clauses Made Simple”. His feature articles can regularly be found in the Australian Property Investor Magazine.

Seth Long

Seth is a co-director of a well established certification practice who are providers of Residential and Commercial Building Approvals, Inspections and Certification services on all classes of buildings and structures.

His company passionately take the challenge of solving your development problems in a cost effective manner and work as part of the development team to ensure the project is a success.

The company was established in 1998 in response to the transfer of power from Local Authorities to private enterprise that originated from legislative changes.

During the past 10 years they have been involved in the approval process for a diverse range of developments, from small to large housing estates, alterations and additions to both residential and commercial properties, Building Approvals for new developments including commercial, retail, industrial, houses and small to medium sized residential developments and approvals for community and government developments such as schools.

Seth Long has 13 years experience in the building industry including project and on-site management as well as certification. Seth’s initial years in the industry were in outback Queensland, where resources are limited and climatic conditions meant to survive in the industry you had to be extremely resourceful and focused. This initiation has enabled Seth to carve a well respected career in Brisbane, largely due to the fact that he understands how to locate and best utilise available resources.

Seth has a great understanding of the developer’s mindset and his experience has taught him how to get approvals through quickly and cost effectively. Seth says there are a number of key issues affecting developers in the current market and as a result of this has developed the five key steps to getting your building approval through quickly and in a cost effective market.

Aaron Johnston

As well as having vast experience in the tendering process, Aaron Johnston has also had successful experiences in real estate and hotel/motel brokering.

His company, BuildChoice, can connect you with the most suitable builder for your development, at the best possible price, to start when you require, in your selected location. What's more, BuildChoice does not charge the developer for this service.  BuildChoice is an established business with over 9 years of experience in assisting developers to find the right builder for their project.

BuildChoice's network contains over 300 reputable builders, specialising in commercial, residential, industrial and civil developments.  BuildChoice is able to negotiate a competitive price by understanding your requirements and recommending a builder who is geared to construct your project type, design and size.

BuildChoice saved one developer over 15% on their multi-million dollar project compared to what they had received from market tenders.  Find out how BuildChoice can save you the money, time and stress associated with finding the right builder for your development.

One developer twice submitted their project for market tender in a regional area, to no avail.  BuildChoice became involved, were able to source a suitable builder and negotiate savings of over $2,000,000... imagine the time and money that would have been saved had BuildChoice been involved from the start.  Find out more about how BuildChoice's specialist service can assist you in your next development at Developing for Profit.

Paul Eslick
Reno Kings

Paul Eslick’s motivation for getting into property investment was to kick what he calls the ‘J.O.B. (Just over broke)’.

Most people know Paul as an expert at adding value through renovating and Paul’s 'Time is Money' motto has made him the fastest renovator going around – so far his quickest renovation is 14 hours … that’s right only 14 hours … mind you it was a 12-hour challenge that he didn’t quite achieve. He is renowned for painting a house … filmed on national TV … in 64 minutes. Paul says, “If you take longer than 4 weeks to renovate an investment property, you are doing something wrong.”

What a number of people don’t realise is that Paul has also had considerable experience in property development and he is also a qualified and registered builder. His first development was carried out 25 years ago and since then they have gradually increased in size and frequency. While he continues to renovate every property he buys to add instant equity, the instant equity is generally being used to fast track his portfolio through development. This is because Paul now concentrates on buying renovators that also have development potential. No longer is he satisfied with having just one or two twists with his properties, he must have three or four with EVERY single one!

Paul will share his enormous wealth of experience and knowledge accumulated over years working in the building industry and as one of Australia’s most successful and prolific renovators. As most people already know, Paul believes the greatest asset to property investment is experience and education. It is this experience, both the good and the bad, that Paul will be sharing with you so you become educated in how to recognise good development outcomes, but also learn what not to do so the mistakes are already taken care of by him!

Bradley Beer

Bradley Beer showed Geoff how to get a $15,913 tax write off for his small development... before he had even started construction!

Bradley Beer has had over 10 years experience in quantity surveying and as a result has substantial knowledge and specialist experience in project management, project control, construction estimating, cost planning, cost management and tax depreciation.

Brad has written a large array of literature for his firm and is also actively involved in new business development, which has contributed to the company becoming a large and well respected Quantity Surveying firm with offices in nine locations. Despite the growth, they have continued to adhere to their vision of being client focused, delivering the best possible outcomes that are uncompromised in quality.

Warren Schrodter

For anyone who has had trouble getting finance to buy or develop investment property, you need to listen to Warren. Not only does Warren know how to get finance, but he also trains other brokers on how to get finance and he has, in a previous life, been the one to approve finance with a number of the large banks.

Warren has vast experience from far North Queensland down to Melbourne and regional Victoria and not only finds funds for property purchases, but is an expert in funding construction. His experience in dealing with companies and trusts as well as private purchasers ensures that you are with the right lender for your circumstances.

Warren, the broker's mentor at Finding Finance, will ensure graduates of ‘Developing for Profit’ apply for the right funds, at the right rate, from the right lender.

In addition to broking for last 10 years, Warren has also trained and developed brokers for a leading mortgage management company and to FARSTA (govt accredited traning course for new brokers) for around 6 years. He is also a full member of our governing bodies MFAA (Mortgage & Finance Association of Aust) and FBAA (Finance Brokers Association of Aust).

Geoff Doidge
Reno King

 Geoff Doidge is a failed public servant and it was this failure that has enabled him to build a property portfolio in excess of $16 million. He likes to think that he has “failed his way to success”, making every mistake in the book. The difference between him and most others though, is that he is prepared to admit these mistakes, has learnt from every single one of them and most importantly, he wants everyone to know about it so that they can avoid making the mistakes that he has.

These days his mistakes are few and far between thanks largely to experience, the continual need to educate himself and because he has realises that there is no need to take high risks in property. This transition has now enabled Geoff to confidently move into property development and he wants you to be there with him. You know him as a Reno King, now learn firsthand and in real time what it means for him to be a property developer.

Geoff will show you how he is managing to turn a property termed ‘an unprofitable development site’ by one developer into a high yielding, multi-income hold site with 30% equity to boot.

Geoff will also show you how he made close to 45% out of a development site in 18 months... and he hadn’t even employed his builder!

Justin Eslick

While being the youngest member of the Reno Kings team, Justin could probably boast that he is the most experienced developer, having worked for over five years with a development company as a research, acquisitions manager and project manager and for a large part of that specialising in student accommodation. It is this experience that makes him the first port of call not only for his clients, but also for the Reno Kings when they look at buying a property!

Justin is uniquely qualified, also being an investor and developer himself, having 7 years experience in property acquisitions and being a qualified town planner. In addition Justin is the son of Paul Eslick, one half of the Reno Kings and has been on or around building sites and renovations for as long as he can remember.

Justin’s property mantra is to “always make sure you know more than the real estate agent and whatever you do, don’t let them know this”. He will be bringing his experiences as a developer AND a buyer’s agent together to educate YOU on how to become more knowledgeable than not only the agent, but also the other purchasers so that you always know you are buying well and can buy quick.

Don't miss this unique opportunity to hear from some of the leading property experts, all over the one information packed weekend!

Here is what you get at ‘Developing for Profit’, the essential two day developer’s workshop:

Special Offer for Early Birds!

Book and pay by Monday 27th July 2009 to receive

Priority Seating

and receive a

Complimentary copy

of the

Developing for Profit Home Study Course

valued at $997

(NOTE : You must book and pay by the Early Bird date to receive the Home Study Course.  This Bonus will not be on offer after that date.  Book now to avoid missing out)

PLUS

A Bonus Offer if you Bring-a-Friend!

If you want to Bring-a-Friend (or relative!) along, and you book and pay together, the second person gets their seat for less than half price!

That is a total saving of over $1250! 

(Note: Bring-a-Friend bookings share Workshop materials)

Can you afford to make the mistakes as you go or would you rather know the pitfalls before you make them?

Protect yourself NOW by learning from the experts over two full-on days rather than through your own possibly terminal mistakes over years.

Use this information and the network of contacts to set yourself on the path to create your own growth portfolio by developing for profit.

Developing for Profit, Brisbane, 17th and 18th October 2009.

To read what others have to say about this workshop click here.

Money Back Guarantee

If, after listening to the guest speakers on day one and indulging in the catering, you feel you have not learnt how to avoid costly mistakes or improve your profits, then return the workbooks and gifts you received on the day and ask for your money back and we will refund your ticket in full.

This is an exceptional opportunity to fast track your development aspirations and comes with a risk free money back guarantee.

Now is the time to take action!

As seats are limited and will be allocated on a first in first served basis, it is strongly recommended that you book now.

Regards

The Developing for Profit Team

PS Don’t forget that by attending this event you will be learning how to avoid the mistakes to maximise profits that would otherwise take years to discover ‘on-the-job’.

PSS Check with your accountant... your ticket to this essential workshop might be tax deductible!

To read what others have to say about this workshop click here.