Hi from Be Developer

Thanks @SOULFLY3 !!!!

 

Update:

Be Developer AUS

Completed two of my own developments
2 X Development projects for clients (Final hand over this week)
2 X Successful Development site Auction (1 listed above)
2 X Permit Approval for challenging sites (1 conditional sold - 1 will commence building next year)
2 X still at VCAT listed for hearing next year

US Property Development and Investment:

We purchased over 10 properties in USA since July this year.

it s a mix bag of:

3 X Development site (multi Units - 1 site is subject to seller obtaining permits)
1 X Single Family Development Site
1 X Proposed Hotel Development site (a block away from new Atlanta Falcon stadium)
1 X Buy 'n Hold Cash flow Duplex
5 X Rehab projects (for quick turnaround on profits and Trades' Trial)
1 X Proposed Be Developer USA Office site

We should be able to post details of each deals as it becomes available as all sites are purchased under Be Developer and its related entities.

Also, I take this opportunity to Welcome @Shahin_Afarin and @MTR on board for US investment ventures! Both of them are friends/clients with Be Developer for years and it is about a right time to join forces together for investing.

Marisa brings her experience of extensive network and property investment in US. Marisa will be responsible to manage off field day to day operations Of Be Developer USA. In addition, She will manage Be Developer's PropertyChat account from 1st Dec 2016.

Shahin's experience in Property Development and Banking/Finance sector would be an addition to Be Developer.

Both Of them will continue to operate their own respective business of Property Development and Mortgage broking (@Shahin_Afarin

Thanks to our clients and forum members for your continued support!

 

Well done Chirag.

 

Thanks Paul

 

another update we are currently looking at other markets in US where we can source cash flow returns for our clients. There are a number of markets that may suit this strategy. which would be buy and hold.

We are looking at States in specific areas that can also provide not only cash flow but appreciation/capital growth.

As you probably know Atlanta, Arizona, Florida have already had significant growth from 2011 when US markets started rising, but we believe we can tap into at least another 2 markets that will tick these boxes.

Watch this space.

 

Drive Safe
Drink Responsibly
Don't let last week of Dec - to get to you - Stay Healthy n Fit!


Marry Christmas!

Happy Holidays!!

Thanks to Propertychat, forum members and clients for continues support!


Regards,

Be Developer Team!

 

Hi Everyone

Hope you all had a great Xmas, and happy holidays, hope I can say this without offending

For those who are interested, I have been posting our USA/Atlanta deals
Currently freezing in Atlanta and also making it harder to get the trades/contractors. This is all a work in progress and learning so much along the way.

We just secured a sweet deal for one of our investors and yet to close/settle but this has some great numbers and in a neighbourhood with is in high demand. At the moment stock in Atlanta is very low, only 30 days inventory, compared to the norm at 60 days. What does this mean? A bum fight to secure properties. We have some people on the ground who source properties prior to hitting market.

In total we have now purchased 11 properties in various stages ie buying, rehabbing, with county for rezoning, with architect and hopefully shortly selling

Managing cash flow and work load is a challenge .

We just employed a book keeper and we are not too far off employing a project manager to oversee all our projects. The idea will be to continue growing and building volume.

Will keep you posted. Happy investing everyone.

 

Interesting read in this thread, I've enjoyed reading about the move to the USA markets.

One thing I can't get my head around - is this purely an individual/small team obtaining finance and outsourcing the purchase/development approval/project management to 'Be Developer' or is it more like a crowdfunding project where a bunch of people are contributing the capital and receive a % of the payout at completion/sale of the developed property?

If it's individual, then I guess it would be hard to obtain finance for a foreign investment and would have to be largely cash only deal to afford it right?

 

Hi Everyone

Just an update on progress in USA, Atlanta market.

It has now been 8 months since we started investing in Atlanta market. We have secured to date 17 properties. Some of these properties I have posted on PC, in the main are flips, we should be ready to sell our first flip in around 2 weeks fingers crossed.

We have some holds, or cash cows if you like. We mix it with holding property because we are seeing continued demand/growth. US economy is full steam ahead and Trump has promised to inject 3 trillion into US infrastructure.... that is a big one.

We also have purchased 5 development sites, one of these sites already has a DA approval in place. This project will be commencing shortly. We also have purchased a block of land which is zoned commercial. These sites are at various stages from securing DA, working on feasibility study and just holding for growth.

We are also looking at commercial properties that provide cash flow from day one but must also have a twist, large land component so we can also add value/develop. The holy grail.

We have an excellent team on the ground from builder, architect, project manager, US accountant, US property lawyer, property manager. Key is to find good people and provide ongoing projects/work.

Where from here?

We have our eye on another market in USA and we want to replicate what we are doing in Atlanta. This market is very strong like many markets in US at the moment. However the entry level is lower base than Atlanta. Currently networking with someone who manages her father's 100 million $ portfolio, what a nice problem to have. Networking is key in US market, surround yourself with good people and opportunities will come your way.

BeDeveloper USA

 

I too would like to figure this out. There are several different threads about the US markets posted on here, and various projects that are happening.

From what i can gather, Chirag began with his own projects, then started @Be Developer as a buyers agency to find development sites for clients (in Australia). Separately, MTR had done her own projects and was a souding board for Be Developer. She had also previously invested in US in 2011. Chirag/Be Developer began buying in US from mid 2016.

"@Shahin_Afarin (mortgage broker) and @MTR came on board for US investment ventures in December 2016. Both of them are friends/clients with Be Developer for years." (From comment a few up in this thread)

At the same time, "MTR started posting/managing Be Developer's PropertyChat account from 1 December 2016"

This later part is a bit confusing as well, since MTR is still posting under her own profile as well? - eg see this thread where there are posts from each one after the other? Atlanta - Single Family Home)

There also one other strange thing I don't quite get was when @Omnidragon asked a question of "Why don't you throw a fund together and raise capital to go there? I'm sure just here alone would have many investors who'd park their money with you." MTR replied in a coy manner:

https://www.propertychat.com.au/community/threads/deeply-intrigued-by-usa-market.16728/page-4#post-344289

I mean - why not say "Yes we are doing this - if you are interested, send me a message, or click the link here to find out more." - But there was no further info given, and I can't see any info on USA projects on Be Developer website? - Does seem a little strange when their original motto was “Together, we will go far.”

Happy to hear responses, any testimonials of people who have invested into US with Be Developer, and what the arrangements are? eg, is each house/project it's own fund and you can go in for an individual share of a property, or you are in for all projects?

 

@Danyool

I agree it is confusing a bit!

I ll clear it up for you.

@MTR owns 11+ plus properties herself.

Be Developer group and its subsidiaries*owns 17 properties.

We bought 1 property for client - as client came from Australia to see our portfolio. We found a property that would suit their stretagy - so we passed it on client - We asked client to workout a fee - as we don't have fee model!

We are constantly buying properties - target is one a week while I am in America !


*Be Developer Group and its subsidiaries

It's combination of investment fund (backed by our own clients) and our own money(@MTR, and US business partner)


You mentioned that why not throw a link for business.

Good idea - right ?

You may have seen, we dropped buyers agent title on forum few months ago.

We are focusing on our own projects and making sure they run their course as projected.


We get inquiries from potential investors every week and this is how we are handing them. (For new clients)

1. @MTR will go thru her journey and investment
2. Provide overview and direct them to forum to read information on project
3. If client is interested - start the process of LLC
4. Open bank account in US
5. Transfer funds
6. Research US market
7. If we put out syndicate - client will have opportunity to invest in project.


We had over 11 investors from Australia in last 3 weeks and we were happy to show them what we do and have done so far.

Property development is complex and time consuming business - we rather show them how we investing before they consider us.


Step 3-4-5-6 are must for investing in US. (With or without Be Developer)


Why above?

There are few reasons but I ll list some important once

You need an entity to buy investment property in US (if you are keen- may as well get llc process started)

Sorts out information seeker vs client (llc setup is $500 -$1000)

Trip to US to open an bank account - allows them to see what we do (instead of reading a glossy brouchers and all)

After steps 3-4-5-6 - client can choose where and who they want to invest with in US. Not tied up to Be Developer.


There are 100+ ways to make money thru property investment - we only focus on property development as that is all I know. May suit some- may not!

We are not interested in sourcing buy n hold properties!


"Together, we will go far"

That is still the case!

I am 32 and happy with way we going so far!

 

Also if it is fund owned or client owned project - you will notice it on its thread ! Keep an eye on it !

 

Thanks for the reply. (i'm guessing this is Charig. Are you back posting on Be Developers PC account, or is it mainy just MTR as mentioned in December?)

RE needing an LLC set up - how are the properties initially bought - if it was going to be for a client? ie Be Devoper buys it initially - then rehabs/develops and sells it to client at that stage, or its in clients name from the start? Then you are paid for the development work?

And if a joint investor/share - ie if someone was just wanting to put in some funds for a share in a property/project do you need the LLC as well?

 

@Danyool there are very firm rules about not "spruiking" on this forum so @Be Developer and @MTR aren't allowed to solicit people to join investment projects or offer to buy stuff for people. That is why you won't see them inviting people to buy with them in Atlanta.

It's a very fine line that business members on here respect. We can talk about client projects and our own and say what services we deliver but it is up to interested clients to contact us via PM, emails or our websites if they are interested to speak further about our services, we are not allowed to say in response to people posting "please PM me if you are interested"

 

I am currently in USA am flat out on projects.

MTR (Marisa) is my business partner and handles admin side.

Edit:

Investor/share/your own name will require ITIN (if buying/investing under personal capacity ) or EIN (if investing under corporate strucuture)

Drop me a pm if you want to discuss any items with me personally!

 

Yea its a bit confusing, but can usually tell which of them is posting as they have different writing styles.

 

Shouldn't be confusing for you!

 

Ok. Yeah strange fine line indeed! Just trying to figure out more info before deciding to contact them or not.

 

Thanks.

In your earlier post you mentioned Be Developer and subsidiaries had 17 properties already and:

How long are you there for? Or how many more do you think you will buy, and then how fast will u be able to turn them over?

Just wondering about the number of builders/tradies you have now versus how many you will need to get through your stockpile of properties? And if it's a while, do they just sit empty? Like the one you're demolishing now - looks pretty bad, it probably wasn't tenetable on purchase?

 

@Danyool

A 1: few more weeks
A 2 :not sure a) Depends on asset and acqusition stretagy!

A 3: not sure
A 4: Yes N No - refer to A2 a)
A 5: not tenetable purchase