Mentor Wanted - Aspiring Property Developer

[Alex B.]

Hi All

I have recently joined this forum to learn about Property Development specifically in British Columbia, Canada. I am a 25 Australian property investor that is moving to Vancouver next month. I have some experience in residential property investment with a portfolio of 3 properties that I have purchased back home in Sydney. I work in Risk Management and Compliance and I am quite analytically focused but at the same time I am a strong advocate of taking educated risks, believing that through proper mitigation strategies and due diligence you can to some degree limit your losses. Bottom line, I am not one of those analysis, paralysis type that can’t jump on the trigger.

I have always had a strong passion for property and one of my lifelong dreams has been to start a Property Development and Investment company. I view property development as a process. A process you learn and continually refine and replicate to achieve success and I have no doubt that if I do enough research and development relationships with individuals within the industry, building a strong team behind me I can achieve my goal.
At this stage I have been putting together a business plan for starting up a development company. To minimise risk and to get some exposure to the world of development without taking any unnecessary risk I plan on starting out by sub-dividing and or re-zoning land. Rather than attempt to develop myself and expose myself to additional risks that are incurred through development. I am looking at sub-dividing and selling off the subdivided property. If possible I would like to source a block of land which has an existing dwelling that could provide an income stream

I have studied council bylaws to learn about zoning and sub-division requirements in each respective zoning category, become familiar with the local council resources including looking interactive maps that show precedence for re-zoning approvals. I know I have a lot to learn however I am trying not to get bogged down into the details until I can network with professionals and experienced investors to help shape my progress and I am looking for a mentor to help provide guidance for me.

My current high-level strategy for starting off sub-division is as follows:

1. Find properties with sub-division potential or re-zoning potential.

2. If re-zoning is required assess the precedence for this through historic approvals.

3. Complete due diligence

4. Enter ‘Rent to Buy’ agreement with vendor with clauses inserted to allow me to sub-lease and control over putting through development applications.

5. Secure property on rent to buy and sub-lease

6. Lodge and gain approval for development application

7. Source JV partner leveraging from the development application approval.

8. Exercise rent to buy option with financing secured with JV partner

9. Develop property and onsell.

Can anyone give me some advice on my strategy and feedback and are there any experienced investors that would be looking to mentor me and provide me with guidance?