During the course of 2013 I have been driving further improvement in the quality of service which is offered by GPS so that we can remain competitive.
“Information Overload” in current society has been reinforced to me when observing how many forms of media my daughter can have active at any given point in time. This has led me to review how GPS communicates with its Investors and to endeavour to consolidate it into one newsletter each month which will go out with the statements. I would appreciate feedback on form and content.
Another initiative is to run a series of morning teas at projects funded by GPS so that Investors can have the opportunity to view what they have helped fund, meet with GPS staff and to generally discuss any matters of interest. Details are on the next page. As Marketing by GPS is almost entirely by referral, we ask that if you are attending one of these events you “bring a friend.”
Loan enquiries and quality of applications has definitely improved during the course of 2013. GPS will shortly achieve our operational number of active loans and we should now plateau at an average of about 1 new loan per month. While we will work towards coinciding with the release of new loans with our newsletters we must remain pragmatic and appreciate the exigencies of each of the matters and our service commitments to Borrowers. GPS wins most of its business by offering good quality service and working towards achieving positive results for all involved. We need to remain flexible with the Borrowers to continue to be able to earn the premium returns. I trust you will understand if we forward additional material to either launch new product or make offerings at other times.
In November GPS will welcome Stephen Van Der Walt as out Lending Manager. Stephen has a background in project management and holds a builder’s licence. He will assist GPS in delivering positive results for Borrowers and will be able to keep a tight control over projects. He will further strengthen the ability of GPS to complete projects should something go wrong.
Bruce will reach a “certain age” in the early New Year and has decided to slow down. He will remain as a director but will limit his working week to three days.
GPS has also welcomed Lindsay Brown as a member of its team. Lindsay has had a long career in construction and development finance and recently retired form Suncorp. Both Bruce and Lindsay will be applying a considerable amount of their time at GPS to developing and mentoring the next generation of GPS.
I hope to meet as many Investors as is possible at the morning teas and again ask that if you can attend, that you bring a friend.
Comment from Richard
One of the lessons I have learnt is part of being a Private Lender is to dig through the legal structures and develop a relationship as a person. In this loan it is Brendan Ansell.
Brendan is a repeat Borrower from GPS. He is currently completing a project in Wambool Street, Bulimba. This project will host the first of the GPS morning teas (details later in this newsletter) and overlooks the Princess Street site which is in the next street along, off Oxford Street.
Another of Brendon’s projects is Alpha Annie.
The builder for the Princess Street project will be Francis White who also built Wambool Street and is building Alpha Annie. GPS has dealt with Francis White on other projects such as the development by Jazi on Wynnum Road at Norman Park.
Princess Street will consist of 8 x 3 bedroom units with city views just off Oxford Street. The end pricing will be in the low to mid $700,000 range which is very competitive.
What more do I have to say; it is another project by a proven operator who is using the same and proven team in a market we all understand.