A few days ago I was doing some research for a development project I have my eyes on when I had a realisation.
There I was – flipping through the 154 page workbook that comes with my DIY Property Development Kit (and yes, I ABSOLUTELY still use it – especially the 24 point Due Diligence process) when it hit me…
I almost missed something super critical in the details of the deal!
I won’t bore you with the details… but let’s just say that having that resource to fall back on saved me from a broken heart and a badly bruised bank account.
This experience reminded me again just how important it is to have a go-to person, guide, mentor or even just a checklist you can rely on when assessing a new project.
And if there’s one strategy where you really need that person… it’s property development.
Why Does Property Development Need Special Attention?
Property development can be hugely profitable… but you need to make sure you have your bases covered before you take on a large project.
But don’t you worry – we’ve got you covered!
Here are six tips that will help you generate profits and avoid expensive errors on your next development:
1. Select the right property for you
One of the first decisions you will have to make as a property developer is whether you want to purchase raw land or a property that already has development approval (DA). Your decision should depend on a number of factors, including: [Read more…]