CHAT WITH CHERYL LEONG
OFFERING SMALL INVESTORS BIG RETURNS IN THE PROPERTY MARKET
Big property developers often get a bad wrap for putting profit over people. We’ve all seen those cookie-cutter subdivisions with houses packed like sardines into tiny parcels of land, no trees, no playgrounds. As mothers, we talk about the importance of “the village” and how much we need a community of people around us to raise our children. Unfortunately, this sense of community and connectedness is what’s been missing from our modern lifestyle. Typically speaking, we all live in our separate homes, fenced in and unaware of what’s happening in the lives of the people next door, even if their wall is only 3 feet away.
Our guest today has been in the property development biz for a number of years and is keeping community front and centre with her exciting new project. Cheryl Leong, Chief Impact Officer at Big Impact Group, talks with us today about the co-living spaces being built in Sydney and we dive deep into the details of how it all works on a community level and from a financial perspective.
Frustrated by the lack of community considerations whilst working on bigger development projects, Cheryl decided that if she wanted to create things that made a difference in people’s lives that she would need to do it herself. This is where Big Impact Group came to life, a company with a focus on sustainability for people, their social and financial needs, and nurturing our environment.
Co-living spaces are more common in places like Europe and the USA and, depending on the area and size of the development, often consist of self-contained apartments with additional communal spaces for shared meals, games and good community vibes. This is what Cheryl and her team are going for and we think it’s a really exciting project.
In addition to the focus on community and connectedness, these co-living spaces also offer an opportunity for individuals to enter into a high cash investment. Independent part ownership means that people who might not be able to afford to buy on their own can invest a smaller portion into the development and receive a 7% return on their investment. How awesome is that?
Co-living might not be for everyone, but there is certainly a market for it and we think Big Impact Group are really living up to their name. Tune in to find out more about this unique project.
If you have a topic or question you’d like us to cover, contact us here.
SOME TOPICS THAT WE COVER:
- [3:24] – How Cheryl’s love of community was a driving factor to her property development career
- [4:46] – After working on big development projects that took no consideration of community values, Cheryl was determined to make more impact and create a business herself
- [5:15] – The reason behind Cheryl’s focus on affordable rentals
- [6:00] – The look and feel of these affordable rental properties that Cheryl develops
- [7:20] – How Cheryl has encouraged this co-living atmosphere within the design of a development
- [9:00] – The demographic of those that are taking up the co-living opportunities
- [10:00] – How the investment opportunities operate within this model
- [10:47] – The high yield that you can expect from a Big Impact development project
- [13:00] – The buy-in and buy-out structure of the development
- [14:06] – Vacancy rates and how that differs from co-living development projects
- [14:45] – How Cheryl came up with the funding model that they use for these projects
- [15:38] – The amount of funding that’s locked in before a project will go ahead
LINKS MENTIONED IN THIS EPISODE:
- Cheryl’s LinkedIn
- Big Impact Group on Facebook
- Big Impact Group on Linkedin
- Your Property VA on Facebook
- Your Property VA on Instagram
- Your Property VA Website
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- Build Like A BuildHer Program
- Build Like a MasterBuildHer Masterclass Program
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