THE ULTIMATE

HIGH-END
PROPERTY
DEVELOPMENT
ROADMAP
 THE ULTIMATE ROADMAP
For Doing Highly Successful,
Small-Scale, Boutique Developments
Hi, I’m George Bakrnchev, the CEO of RUUHM®
- a 3-generation family owned small-scale
boutique property development company,
based in Brighton, Melbourne, Australia.
One of my most important roles in our company
has been to document-by video, our real-world,
practical skills, methods and systems that we
successfully apply to the high-end property
development space so that I can fast-track the
mentoring of any new comers to our family
business...
For the first time I am offering this entire
mentoring system to you too.
As the CEO, I walk the talk on how to do highly
successful small-scale boutique developments
with my family and inner circle of friends on a
day-to-day basis. This is my core business...
I have my own money on the line everyday, so I
don’t talk theory; I talk real-world actions and
strategies that give me real world results...
Develop RIGHT is essentially my businesses
intellectual property and mentoring advice ALL
in one...
“
High-End Property Development
is a very lucrative market
segment that can take
Most property developers don’t have the you and your family’s wealth
patience, skillset or desire (they fear the to the next level when done
competition copying their ‘secret sauce’), which RIGHT...
is why this type of comprehensive mentoring
program hasn’t existed in the high-end Done wrong and it can
development space, until now... be a financial nightmare...
Develop RIGHT is a rare opportunity for you to
learn how to LEVERAGE trading your time for
money working in a manual or service based
business, into a business that many rich-listers
have made their fortune in...
High-End Property Development is unlike any
other level of development. It requires specific
knowledge and skills and a little bit of the
X-Factor, but once you acquire them, these
specific high-end skills are exactly what you need
in order to create a very exciting future that
most will only ever talk about...
Your first step into becoming a high-end
developer is to start walking through the
Develop RIGHT Roadmap which highlights the ‘Developing land right is what drives me today’
9 key steps that I use everyday at RUUHM®…
- George Bakrnchev BBSc. FCM
CEO - RUUHM
 1 2 3
Get Your Get Your Get Your
Site RIGHT Legals RIGHT Density RIGHT

6 5 4
Get Your Get Your Get Your
Builder RIGHT Permit RIGHT Design RIGHT

7 8 9
Get Your Get Your Get Your
Funding RIGHT Marketing RIGHT Admin RIGHT

“I am here to help you get into
and thrive in the high-end
small-scale property
development space by sharing
my company’s methodologies,
systems, templates and
intellectual property.
Through the Develop RIGHT
Mentoring Program you will
learn how to grow a profitable,
prestigious property business
without the overwhelm,
confusion and secretive nature
of this industry.
Being able to Develop RIGHT
has been responsible for
generating tens of millions of
dollars of revenue for my family
business... and with the right
tools and strategies, it can for
you too.
Please, read every word in this
roadmap so that you know
what it takes to get your first
development started and
completed before you know it.”
George Bakrnchev BBSc. FCM
CEO - RUUHM
1 Get Your Site RIGHT
Let’s begin with the end in mind.
First, decide on what type of small-scale boutique
developments you want to specialise in. In Develop RIGHT
we call that your ‘Sweet Spot’.
Will your Sweet Spot be: single homes, duplexes,
townhouses, apartments? Decide.
Start with one focus in the beginning.
Established areas work best for high-end projects where
there is high demand and low supply of available land. In
these ‘infill’ areas, 99% of the suburb has already been
built. You want to focus in these areas, avoid new estates
as lenders get nervous around unproven areas which can
affect your borrowing capacity for construction.
TIP: Look for sites that fit the following criteria around
your sweet spot:
The right zoning, land size, frontage, orientation, slope,
overlays, suburb, streets. Use online tools to quickly assess
if the zoning is correct. Sites like Landchecker.com.au will
give you a good first glance of the information you’ll need
in order to dig deeper on the site.
Don’t just rely on online listings to find your site.
Tap into your architect, finance broker, town planner and
real estate contacts with your criteria, you might be able to
avoid public competition and snap up a lucrative ‘off-
market’ deal.
2 Get Your Legals RIGHT
Don’t be your own lawyer. Get trusted advice.
You’re dealing with land purchases in the millions in this
game. You don't want to sign on a purchase only to find out
you have GST problems, an easement that you can’t build
over, a restrictive covenant on the title, or even an obscure
little clause that stops you from removing soil from the site
(yep, I’ve seen a few in my time)…get your property lawyer
to look through EVERY single purchase contract BEFORE
you sign anything.
Speak with your accountant to decide on the right legal
entity (e.g. company, trust, partnership) you should
purchase the site under. This will affect your tax and GST
liabilities. If you sign using one entity and then you decide
to change the entity after signing, you could be up for
double stamp duty.
On a 2 Million dollar site purchase that will cost you roughly
an EXTRA $110,000 in stamp duty. Remember this lesson,
as it will save you a bucket load of pain, money and
embarrassment.
NOTE: Here is how I gain FULL flexibility when I sign a
purchase contract:
I sign all of my contracts with the following wording e.g.
‘ABC Pty Ltd and / or nominees’. This way I can nominate,
before settlement, what the actual entity name should be
and avoid double stamp duty.
BEWARE: You must take your own legal and financial
advice on anything I share in this Roadmap.
 3 Get Your Density RIGHT
How many dwellings will you be able to put on your site? In Develop RIGHT we focus on answering the following:
Just because your town planner says you can put 4 ‘what is the highest and best use of the site from a
townhouses on a site, it doesn’t mean you should. high-end buyers perspective?’

In the upmarket suburbs, you will find that LESS can TIP: A town planner and architect will tell you what you
actually mean MORE. can cram onto the site, but you, as the developer, need to
be able to make a strategic decision as to what is the best
There is a lifestyle shift that has been occurring for the
use of the site from a luxury homebuyer’s perspective.
past 15 years and you need to be acutely aware of this.
Baby boomers, those born between 1946 and 1964, are
Focus your answer on the following 3 strategies:
either retired or looking to down size their home but
upscale their lifestyle. 1. What Dwelling Type has best sold in the immediate area
in the last 6 months?
In Develop RIGHT we call them ‘The Last Rolex’ buyer:
They are prepared to spend big on their last dwelling. If 2. What are the Demographics of those buyers i.e. Who
it’s an apartment it needs to be a house-sized apartment bought? What age, sex, occupation, relationship status,
(a Housepartment®) with a lock and go lifestyle. If it’s a children?
duplex or townhouse it needs to have higher end fittings
3. What are the Psychographics of the buyer i.e. Why did
and fixtures with a low maintenance, high quality indoor-
they buy?...
outdoor entertainment area. The outside needs to be
seen as an extension of the inside. In the Boutique
market they pay a premium for lower density.
Answer those 3 things and you
COVID-19 has only strengthened the need for a high
quality lifestyle, especially if you are forced to be locked will be able to maximise your
down in your home. In Victoria there was a 5km
lockdown zone. So buyers now assess ‘what is around me profits and selling speed.
within 5km’s and is my home lockdown enjoyable?’
 4 Get Your Design RIGHT
This part is all about human psychology and why they buy
or don’t buy. In fact, I loved human applied psychology so
much that I completed my university degree with a double
major in it. As a developer it has served me well and it will
for you too.
Understand this: People ‘feel’ 60,000 times faster
than they can think.
So when they are looking at your property for the first
time they have already established a feeling for it well
before they can verbalise anything about it.
TIP: We know that people judge a book by its cover...If
the cover doesn’t attract them then they won’t open it
and read it. It’s no different for luxury housing. The first
impression is crucial.
Get your ‘externals’ right.
In Develop RIGHT we call this aspect of the development
The X Factor. Get it right and The X Factor can gain you
an extra 100-300K on top of what you were expecting.
That’s how lucrative this part of developing is at the higher
end of the market. Get it wrong and you’ll be forced to
discount your sale.
The upper end market is brutal if you don’t design right.
They have the money and they have choices. They would
rather rent and wait for the right style of home to come up
and when it does, they act fast and pay well. Getting the
externals right is not the only thing the up-market buyer is
impressed by.
Once inside you have to get the internals right.
Focus on elements like: floor plan design and flow, colour,
ceiling heights, use of cabinetry and stone and most
importantly in the Boutique market sure you have ‘hero’
features both inside and outside the home.
Low-maintenance, high-impact landscaping is also a must.
Too many developers skim on this part and buyers get
turned off. Of course there is a limit to what you should
spend on features as they can quickly blow your budget.
In Develop RIGHT I show you how to be ‘Artful and
Functional’ with your design. Stick to this strategy and
you’re going to do it right...
 4
5 Get Your Permit RIGHT
There are two major areas of approval for your
development to be given a green light. The names given to
each stage differs from country to country and even from
state to state but you will find they basically follow this
format:
First you need what is typically known as a Planning
Permit/Development Permit: this is authorised by your
local council. This states that your build and landscape
design have met all of the local planning codes. It does not
mean you can go ahead and build what has been approved.
You will need a second approval/permit, generally, known
as a Building Permit. Your permits have an expiry date, so
look out for that.
TIP: Beware- Everyone has an agenda in this game!
Your town planner’s agenda is to get you a planning
permit – but will it make you money?
Your designer’s agenda is to get you a design that looks
amazing – but can you afford to build it?
As a high-end developer your agenda is to get a planning
permit that :
1. maximises the site’s best use,
2. is cost effective to build and,
3. has a hungry market willing to pay your end price!
6 Get Your Builder RIGHT
In higher end developments your build quality is crucial so
choosing the right builder is also crucial. Buyers can’t see
what’s behind the walls so they judge your project by what
they can see.
High-end buyers judge you by what they see. They look at
the paint finish, the cabinetry finish, the stonework finish
and the cleanliness of the entire home inside and out. They
don’t look at the foundations, the plumbing, the electrical,
the mechanical, the roofing even though that’s where a lot
of the build cost is hidden.
Here’s what you need to look for when assessing a builder:
their capability, quality, speed and prior experience in
doing the type of project you want to do. You also need to
look at their financial strength (you don’t want them going
broke on you mid way through your build) and their
reputation by the major lenders (lenders can reject a deal
based on the reputation of the builder).
TIP: If they make excuses when you ask them to show you
their previous builds and to speak to their previous clients
then walk away. It’s a red flag.
Price, Quality and time-to-complete are 3 crucial parts to
choosing the right builder. But you also need to be able to
get along with them on a human level. To me, business is a
game and I want to enjoy the game. The mental pain of
dealing with a difficult builder is not worth the money you
might have saved.
In Develop RIGHT there is a two-page checklist on how to
assess a builder, in fact we get them to assess themselves
and then we review it. We focus on how to put together a
Unique Team with Unique Talents so that we can produce
Unique Results together and that’s how we are able to
produce record prices for our projects and so can you...
 7 Get Your Funding RIGHT
Many times I see developers go through all of the hard
work and expense of finding a site, getting a planning and
building permit, lock in a builder only to find that they can’t
get funding for the deal to go ahead.
Finance Brokers speak a different language to us mere
mortals. The majority of high-end deals revolve around
these three terms:

There’s an art to doing financial deals in the higher end.

Find a savvy finance broker, one who is development GRV Gross Realisable Value
loan focused, not mum and dad loan focused – they’re a (the total sales value of all dwellings)
different breed and they always know how to get your
deal done.
Loan To Value Ratio
TIP: Don’t focus solely on getting the cheapest interest (the loan amount as percentage of LVR
rate. In Develop RIGHT you will find that there are at least the end value amount)
19 deal factors when doing a funding deal and a lot of them
are more important than the interest rate. Factors like: loan
establishment fees, brokers fees, exit fees, monthly interest
TDC Total Development Cost
vs. capitalised interest and the security you are asked to
(all costs to complete the development)...
provide and sign off on.

I look to put in the least amount of my own money possible,

borrow the most amount so that I can do multiple projects
at the same time. Doing Boutique developments is a great
wealth building strategy for high net worth individuals and
families who can see the sense in pooling their resources
together in order to play a bigger game.

A lot of families have their money tied up in their assets

that could easily be used to fund these higher-level
developments. All that is needed is the right knowledge
in the Boutique playing field.
 8 Get Your Marketing RIGHT
When you Market Right at the higher end, you actually
have the opportunity to make two things happen:
1. You Will Be Able To Maximise Your Sale Price And…
2. You Will Be Able To Build Brand Attraction For Your
Next Development!
TIP: The high-end development business is a long game, so
think long term. Imagine having people wanting and waiting
to see what your next development will be. This takes time
but I want you to plan for it now. Here are some key
marketing decisions you’ll need to make to maximise your
price and build a following:
1. Decide if you’re going to sell off the plan or when
completed.
2. Decide on how to sell – EOI (expression of interest)
/ auction / private sale.
3. Decide on your unique core differences – in other words:
what makes your project standout from all of the others.
4. Decide on a development theme that will create a
following.
You might be familiar with the TV series called The Block.
They create teams of 5 couples who renovate 5
dwellings and compete to produce the highest profit of
which they take home as their prize.
The Block is a highly successful development theme and
you have the chance of creating this from the start of
your high-end development journey. At RUUHM our
Development Theme is to Compose 100 Symphonies.
Each high-end development is given the title ‘Symphony’
followed by the next number. When we market Symphony
# 3, buyers will be curious to see what Symphony # 1 and 2
were all about. This gives people ‘buyer confidence’ and a
sense of becoming a part of our story of ‘composing master
pieces that will stand the test of time’.
High-end Buyers love a good story, what’s yours?
9 Get Your Admin RIGHT
High-End Developing, like all other businesses, has adminis-
tration to take care of.
See this as the ‘paper trail’ part of the business. Whether its
physical paper or electronic paper, it’s a necessary part of
the business that must be handled with excellence. Even if
you are good at it, don’t do it yourself. Get advice from your
accountant or bookkeeper about your bookkeeping
structure before you start a project.
Keep it simple, don’t over complicate things. Developing is
complicated enough with many moving parts in play.
Chasing receipts and reconciling accounts can be a breeze
if you have systems and a protocol of how to manage it
amongst your team.
TIP: We use one Google email address with a special
subject line for each project to identify all of our invoices
and paid receipts regardless of how many projects we are
working on. From there our bookkeeper accesses our
Gmail account to update our Xero accounting system for
each project. If we need to find any payment we simply
search our Google Mail account with some keywords.
As a Boutique developer, the key is to free yourself up
from tasks that you are not unique at so that your brain is
fresh and sharp for the many high level decisions that you
will need to be making and that is the art of Developing
RIGHT...
 “
Thinking and planning
is 100% useless
unless you
IMPLEMENT





George Bakrnchev BBSc. FCM

CEO - RUUHM

Opportunity awaits you

JOIN
THE HIGH-END
PROPERTY
DEVELOPMENT
MOVEMENT
You are in possession of a Roadmap that can drive
extraordinary results when implemented RIGHT...

If you were to sit in one of my development team

meetings you will hear me saying: ‘thinking and
planning is 100% useless unless you IMPLEMENT’...

Overthinking will keep you from implementing, and

not implementing will keep you further and further
away from where you need to be in life...

If you’d like to start getting closer to where you want

to be in your property development journey then start by
implementing an exciting next step...

Let's have an open conversation about DevelopRIGHT*...let's

see if our Mentoring Program really is suited to accelerating
you forward...
* Spaces are LIMITED
TAKE ME TO THE NEXT STEP >>
YOUR NEXT STEP TO CREATING
HIGH-END DEVELOPMENT PROFITS...
Now, let me be upfront, the barrier to entry into my mentoring program is high
for a couple of reasons:

1. If you can’t fund yourself into a high-end property development mentoring

program, then you most likely won’t be able to fund a high-end development,
so this won’t be for you.

2. If you find it difficult to pay someone for advice, then you will definitely find
it difficult to pay the many development consultants for their advice on every
project you want to do.

For example: an architect might charge you between 6-25K for a design concept,
you’ll have to be ready to pay this without blinking an eyelid and the crazy thing
is that you may not even go ahead with their suggestions. My mentoring fee in
Develop RIGHT delivers a lifetime of knowledge and is a bargain in comparison
to the on-going costs of doing high-end developments where the risk of getting
it wrong is high.

My Guarantee To You is simple: See the value in being mentored by me in

Develop RIGHT, OR get your fee returned within the first week of being given
access to our company’s Intellectual Property and Learning Platform.

LEARN MORE >>