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Learn to be a developer - 2019. 07

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When people think about development, they think of it as something reserved for rich, well-connected people. They envision high-rise condos, large commercial projects, or huge sub-divisions. This isn’t reality. Development can be as simple as splitting a large lot or building purpose rental homes. Most importantly, development is something the average person can work towards!

What is reality is that development isn’t easy to learn - there are no courses, no books and certainly no seminars on development. The only way to learn is from someone else and most people don’t know someone who is a developer within their network - but we’re well connected at Volition!

On July 17th, come listen to Jin Kim, founding partner of Golden Triangle Development and learn about his journey from a regular IT guy to building a subdivision of townhouses. Learn about his use of creative financing strategies and entrepreneurial grit to go from a regular 9-5 job to running a development and renovation company!

You don't want to miss this rare opportunity to get a glimpse into the world of real estate development!

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Jin Kim is a real-estate expert and financial consultant based out of Toronto. He is the founding partner of Golden Triangle Development, where they specialize in urban transformation and infill property development. Jin has more than a decade’s worth of experience in real estate investing and mortgage funding for clients. Prior to founding Golden Triangle Development, Jin amassed a diverse portfolio of rental properties in Toronto, Chatham, and Hamilton.

Jin has a Bachelor’s degree in Structural Engineering from the University of Waterloo, a fine arts degree from OCADU specializing in sculpture, and over 10 years of professional experience in architectural IT management. Jin lives in the Little Portugal neighborhood with his wife, Celine, and daughters, Eloise, and Eden.

Published in: Real Estate
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Learn to be a developer - 2019. 07

  1. 1. LEARN TO BE A DEVELOPER Aaron Charles and Jin Kim Golden Triangle Development
  2. 2. Golden Triangle Development • Golden Triangle Development is a real estate development company. • Focused on developing communities through real estate, joint ventures and strategic partnerships. • Golden Triangle Development also has its sights on the Global Real Estate Market. • The Golden Triangle Development Group has an Investor-focused mandate
  3. 3. What is real estate development? • High rise condos? • Large commercial projects? • Huge sub-divisions? • Land development?
  4. 4. What is real estate development? • Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction, although many developers also manage the construction process.
  5. 5. Real Estate Developer • It’s not a professional designation • There are no schools or a associations
  6. 6. Ladders of Development • Renovations • top-up • Extension • Underpinning • Tear down • Infill Development • Custom homes/spec build • Sub-dision/Communities • Condos, stack townhouses, free-hold townhouses, semis, detached • Commercial properties • Raw land
  7. 7. In the beginning… • Following textbook model: cashflow • No cashflow in Toronto • Rental properties in 2nd and 3rd tier cities • Duplex, Triplex, Four plex, mid-rise apartments buildings, etc • Hard reality of subpar tenants and neglected buildings
  8. 8. In the beginning (cont’d) • Real estate investing is not just about being a buyer or a seller of properties • Real estate is leveraged • Real estate deal is about borrowing and lending. It’s about structuring financing • Became a mortgage professional to immerse myself in the field of real estate financing
  9. 9. V2. Reboot Restart • Learning to create value. In Toronto • Renovation & Infill development: • Lynette • Wincott • Gladstone • Mackay • Riverdale • Lansdowne • Coleridge • The big house
  10. 10. Lessons Learned • Patience: play the long game, create short term wins • Organization • Build a team of professionals: • Lawyers • Investors • Architects • Mortgage broker • Planners • Realtors • Contractors • Accountants
  11. 11. Lessons Learned (cont’d) • Planning • Demographic • Location • Use / Purpose • Financing
  12. 12. WHY Real Estate Development? • Economy of Scale • Margins • Whole sale • Control • Purchase • Development • Build • Sales • Profit • Legacy
  13. 13. Fundamentals for Real Estate Development • Population growth • Migration to Canada > Ontario > GTA > Toronto • Transportation • Employment • Health care • Amenities • Affordability • Demographics • Schools • Safety
  14. 14. How Real Estate Development Creates Value • Real Estate: • Density • Assembly • Re-zone (highest & best use) • Site plan approval • Permits • Product • Economy: • Housing • Property tax • Utilities • Employment • Suppliers • Wealth creation • etc
  15. 15. Our Process • Preliminary / Feasibility study • Massing Study • Assembly / Negotiation • Offer • Deposit • Due Diligence • Final Deposit • Options: • Flip to Builder • Close land • Construct
  16. 16. Opportunities • The Queensway • Midtown • Downtown • Jackson’s Point
  17. 17. The Queensway
  18. 18. Midtown
  19. 19. Downtown
  20. 20. Jackson’s Point
  21. 21. Jackson’s Point
  22. 22. Jackson’s Point • OMB approved designation change: • Low density urban residential (RI) to Low density urban residential (R2) and Medium density urban residential (R3) with site specific zoning exceptions. • The site is conditionally Draft Plan Approved. • The approval are to permit a residential development consisting of semi- detached units and townhouse units. • Working through the planning required for Subdivision Site Plan Approvals and Zoning By-law approvals
  23. 23. Development Partner • Dream Maker Development
  24. 24. Assembly
  25. 25. Group Economics • Everyone can get involved • As a group, create higher ROI • Re-zone / Site Plan Approval / Development • Real Estate Investing • Friend and Family access (part of manufacturing process)
  26. 26. Jackson’s Point Highlight • $2.76M / 24 units = $115K / unit • Upon completion of SPA • $175K x 24 units = $4.2 M • Lift from change of use: • $4.2M - $2.76M = $1.44M • Sales: • $650K to $700K/unit

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