All Forum Posts by: Peter O'Donnell
Peter O'Donnell has started 4 posts and replied 24 times.
Post: Due diligence if investing with a developer
- Investor
- Bardon Queensland, Australia.
- Posts 25
- Votes 7
Originally posted by @Engelo Rumora:
Originally posted by @Marcia Maynard:
Welcome to Bigger Pockets! You may want to introduce yourself in the New Members forum too! Set up your key alerts and check out related discussions by following the links below and use the "search the site" feature as well.
Is the property in Australia or the States or elsewhere? I can't speak specifically to your question, but I have close relatives in Australia and I've been to Queensland, so I wanted to reach out. There are of course some differences and some similarities, between investing in the States and investing in other countries. Some concepts are universal, so I hope you get a good response here. I'm going to tag @Engelo Rumora because he is an Aussie and may have some insight for you specific to investing in Australia, or some contacts for you there.
All the best to you and the friend you are helping!
Thanks for the mention Marcia,
I have been sold out of my Aussie portfolio for quite sometime now and with the numbers I am buying in Ohio (I feel like a kid in a candy store), my opinion would be too bias lol
IMO the Australian real estate market is very expensive and the numbers just don't work.
This is just my 2 AUD worth haha
Thanks and have a great day.
Hello Engelo,
Thanks for joining in on this post. I appreciate it. Mate, I wholeheartedly agree with Your kid in a candy store feeling. I look at what returns are available in the USA. and the Australian market looks woefully overpriced. Especially for cash flow mindful investors. Thanks again mate. Regards Peter
Post: Hello B.P. community and members
- Investor
- Bardon Queensland, Australia.
- Posts 25
- Votes 7
Hello My name is Peter O'Donnell.
Finding bigger pockets was like being a kid in the candy store. Lots of good information, and from what I have read so far, a community of like minded, helpful people. I have decided to create a business sourcing cash flow positive properties. I have acted as a bird dog, and also as a buyers representative for properties in the past. So this is the next logical step.
Most of these properties, will be for investor/purchasers, who like me live in Australia. . Some will be acquired as buy and holds, by myself. And also perhaps with private money partners.
So I am interested in creating relationships with "turn key " providers. Ideally with trusted, quality property managers in place. Also if anyone has experience in a similar business, I would appreciate advice, on avoiding the traps for young players. And also in how to attract further potential clients. At present I have started by letting everyone who I know what the business can do for them. And have started attending business networking groups. I look forward to meeting you. Best Regards Peter
Post: Due diligence if investing with a developer
- Investor
- Bardon Queensland, Australia.
- Posts 25
- Votes 7
Originally posted by @Marcia Maynard:
Welcome to Bigger Pockets! You may want to introduce yourself in the New Members forum too! Set up your key alerts and check out related discussions by following the links below and use the "search the site" feature as well.
Is the property in Australia or the States or elsewhere? I can't speak specifically to your question, but I have close relatives in Australia and I've been to Queensland, so I wanted to reach out. There are of course some differences and some similarities, between investing in the States and investing in other countries. Some concepts are universal, so I hope you get a good response here. I'm going to tag @Engelo Rumora because he is an Aussie and may have some insight for you specific to investing in Australia, or some contacts for you there.
All the best to you and the friend you are helping!
Thanks Marcia, My friends deal is in the greater Brisbane area. Which is ironic as I am at the start up ( Kitchen table for the moment is the office ) part of a business. Where I will be sourcing cash flow properties mainly in the USA. I appreciate your reaching out. I heard Engelo on a recording of a BP pod cast . He sounded great. Thanks again Regards Peter
Post: Due diligence if investing with a developer
- Investor
- Bardon Queensland, Australia.
- Posts 25
- Votes 7
Hello I am a newbie to bigger pockets.
A friend of mine is considering investing with a developer. The developer is offering a return of 50 %, on funds. With the project scheduled to be 1 year, before funds ( and profit ) returned. As far as I can tell the developer is basically assembling his own private money/Hard money fund, for this project. The project is building a strip shopping center, with mainly fast food tenancies. It is on a main road next to a large, busy service station. Currently a vacant block of land, with approval for this development, in place. My friend insists that this guy can be trusted. I advised against. She however is still interested, and asked for my help in checking things out further. Which I am happy to do. However I have never actually used private money/ or hard money. So I would appreciate any help, suggestions, or maybe a checklist of questions I should ask. Thanks in advance