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To Tree Or Not To Tree - Is That The Question?
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When you sit down and chat with Property Developers, it's almost inevitable that the conversation will turn to trees. It seems almost anyone who's developed a few properties has a tree story to tell.
You soon start to understand why the first thing most Developers want to do is clear a site of every single tree, bush and plant, leaving nothing but bare earth.
But is this always the best approach? And is it even allowed?
You soon start to understand why the first thing most Developers want to do is clear a site of every single tree, bush and plant, leaving nothing but bare earth.
But is this always the best approach? And is it even allowed?
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If The Deal's Good Enough, The Money Will Come...Or Will It?
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When you've been around the property development space as long as I have, then one thing's for certain - you'll have heard the phrase "if the deal's good enough, the money will come", or something similar, more times than you can poke a stick at.
The idea is that when you find a cracker of a deal, money partners will suddenly come swarming out of nowhere with big wads of cash in their hands, wanting to get in on the action. And while I certainly agree that investors will definitely want to get involved if the numbers for your deal stack up, it's time for a reality check - they don't magically appear...
But I have good news - it's possible to create a situation where you CAN wave the equivalent of a magic wand and have money partners appear for your deals.
The idea is that when you find a cracker of a deal, money partners will suddenly come swarming out of nowhere with big wads of cash in their hands, wanting to get in on the action. And while I certainly agree that investors will definitely want to get involved if the numbers for your deal stack up, it's time for a reality check - they don't magically appear...
But I have good news - it's possible to create a situation where you CAN wave the equivalent of a magic wand and have money partners appear for your deals.
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Getting On The Fast Track To Development Profits
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For budding Property Developers, one of the "hidden" expenses they often don't take into consideration is holding costs...
Given that developing a property can take anything from months to years, it's a cost that can go from being relatively small to suddenly chewing up a lot of your profit.
In some states the planning process is reasonably well-defined and efficient, so you can have a fairly good idea of how long it's going to take, and allow for an appropriate level of holdings costs in your feasibility.
And then there are states (and I'm looking at you, Victoria!) where the planning process can be excruciatingly slow and completely throw all your timelines out the window.
So if I were to tell you there's a way to fast track your development approval, giving you confidence when allocating holding costs and enabling you to reach your profit goals quicker, would you be interested?
Given that developing a property can take anything from months to years, it's a cost that can go from being relatively small to suddenly chewing up a lot of your profit.
In some states the planning process is reasonably well-defined and efficient, so you can have a fairly good idea of how long it's going to take, and allow for an appropriate level of holdings costs in your feasibility.
And then there are states (and I'm looking at you, Victoria!) where the planning process can be excruciatingly slow and completely throw all your timelines out the window.
So if I were to tell you there's a way to fast track your development approval, giving you confidence when allocating holding costs and enabling you to reach your profit goals quicker, would you be interested?
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The ‘How And WHY’ Of Building Rapport With Agents
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Real Estate Agents get a bad wrap...
They regularly rate among the least trusted professions, most recently in Roy Morgan’s 2021 Annual Image of Professions survey. This survey takes a look at 30 professions and ranks them on honesty and ethics. For the fourth year in a row agents ranked in the bottom three, only marginally higher than advertising people and car salesmen.
But despite their terrible reputation, Agents are super-important to our success as Developers. More often than not you’ll have to work with Agents to buy and sell the properties you develop and it makes sense to have a handful of Agents on your side, not only working with you, but working for you.
What exactly do I mean by that?
They regularly rate among the least trusted professions, most recently in Roy Morgan’s 2021 Annual Image of Professions survey. This survey takes a look at 30 professions and ranks them on honesty and ethics. For the fourth year in a row agents ranked in the bottom three, only marginally higher than advertising people and car salesmen.
But despite their terrible reputation, Agents are super-important to our success as Developers. More often than not you’ll have to work with Agents to buy and sell the properties you develop and it makes sense to have a handful of Agents on your side, not only working with you, but working for you.
What exactly do I mean by that?
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Choosing the Right Property Manager
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It’s Not Just About Price!
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You did it. You trusted the process, you followed all the steps, and you've reached the point in your property development journey when you can start holding one or more properties for ongoing income.
Which gives you a new challenge - finding a great property manager!
Most real estate agencies nowadays have a property management division. That's hardly surprising, as the rent roll provides a steady flow of income to smooth out the hills and valleys of sales income for an agency. It's tempting to just hand the property management of your property over to the agency you bought the property through, or the one you used for selling other dwellings in your development.
But that could be a big mistake….
Which gives you a new challenge - finding a great property manager!
Most real estate agencies nowadays have a property management division. That's hardly surprising, as the rent roll provides a steady flow of income to smooth out the hills and valleys of sales income for an agency. It's tempting to just hand the property management of your property over to the agency you bought the property through, or the one you used for selling other dwellings in your development.
But that could be a big mistake….
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Hiding in Plain Sight...
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The "Hidden" Costs of Property Development
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I often say, just because it can be done, doesn’t mean it should be done – and doing your numbers is a big part of making the decision about whether to go ahead or not.
But what if I were to tell you that one of the biggest mistakes I see in feasibilities (and I see a lot!) is hiding in plain sight?
Do you want to take a guess at what the biggest hidden cost is….?
Now, if you went for something in the general category of taxes, that’s a good start – land tax, GST and Council contributions, to name a few, are often overlooked by developers. But they’re not top of the list.
Give up yet? Okay, I’ll tell you – the number one hidden cost of development is….
But what if I were to tell you that one of the biggest mistakes I see in feasibilities (and I see a lot!) is hiding in plain sight?
Do you want to take a guess at what the biggest hidden cost is….?
Now, if you went for something in the general category of taxes, that’s a good start – land tax, GST and Council contributions, to name a few, are often overlooked by developers. But they’re not top of the list.
Give up yet? Okay, I’ll tell you – the number one hidden cost of development is….
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How Do I Decide Which Development To Do?
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You may have heard me say that 90% of the sites out there that are developable are not profitable. My “Rough Cut Feaso” methodology is one way to make short work of finding the 10% of sites that are profitable. But what happens when you find two or more development sites with clear upside? How do you choose between deals?
The key is to figure out which deal will make the most amount of money, for the least amount of hassle, in the least amount of time.
The key is to figure out which deal will make the most amount of money, for the least amount of hassle, in the least amount of time.
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Do You Feel the Need ... For Speed? My Favourite ‘Quick Cash’ Deals
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A lot of Property Developers can empathise with Dom, from The Fast & The Furious movie franchise, when he says "I said a ten second car, not a ten minute car!"
The reality of property development is that deals can take a while. And there are periods where there's not a lot going on, because you're waiting for "stuff" to happen.
Alternatively, you may be ready to step up to bigger deals, but need a little more cash in the bank to make that happen.
Either way, maybe it's time to consider a quick cash deal to fill in the gaps of time, money, or both. So let's take a look at my 3 favourite ways to earn Quick Cash using your property development skills.
The reality of property development is that deals can take a while. And there are periods where there's not a lot going on, because you're waiting for "stuff" to happen.
Alternatively, you may be ready to step up to bigger deals, but need a little more cash in the bank to make that happen.
Either way, maybe it's time to consider a quick cash deal to fill in the gaps of time, money, or both. So let's take a look at my 3 favourite ways to earn Quick Cash using your property development skills.
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Why You Need A ‘Success Mindset’ To Be A Successful Property Developer
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Don’t know the difference between a splitter and a sub-division? You can still be a Property Developer.
Got no building experience? You can still be a Property Developer.
Got no money? You can still be a Property Developer.
Holding fast to a whole set of limiting beliefs? Hmmmmm.
This is where there’s a good chance you’ll come unstuck.
I'd been running weekend courses for quite some time, teaching people the “how to” of property development, before I realised there was a common obstacle stopping a lot of people from moving forward.
It was the six inches between their two ears that was holding them back. Many people just didn’t have the right mindset: a Success Mindset.
People think mindset is this vague, fuzzy thing, that it’s got no substance, when in actual fact it’s responsible for 50 percent of our journey.
The practical reality of being a Developer is that we make money by solving problems, yet we need to be prepared that some problems can’t be solved. And when you’re dealing with problems all day, every day, it can get you down.
So when you get knocked down, you’re going to need something to motivate you to get back up. And that something is completely under your control – it’s your mindset.
Got no building experience? You can still be a Property Developer.
Got no money? You can still be a Property Developer.
Holding fast to a whole set of limiting beliefs? Hmmmmm.
This is where there’s a good chance you’ll come unstuck.
I'd been running weekend courses for quite some time, teaching people the “how to” of property development, before I realised there was a common obstacle stopping a lot of people from moving forward.
It was the six inches between their two ears that was holding them back. Many people just didn’t have the right mindset: a Success Mindset.
People think mindset is this vague, fuzzy thing, that it’s got no substance, when in actual fact it’s responsible for 50 percent of our journey.
The practical reality of being a Developer is that we make money by solving problems, yet we need to be prepared that some problems can’t be solved. And when you’re dealing with problems all day, every day, it can get you down.
So when you get knocked down, you’re going to need something to motivate you to get back up. And that something is completely under your control – it’s your mindset.
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The ‘Stitch in Time’ Principle in Property Development
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You probably know the old proverb "a stitch in time saves nine". Essentially, it means doing something small now will save you a whole lot of headaches later.
One of the biggest wastes of time and money when you're developing is having to make multiple amendments to your Council application. So if you can get it right the first time you apply, you save yourself the hassle of continually altering plans and resubmitting them, using up valuable time and potentially adding to your holding costs.
As a result, in property development the best stitch in time you can make is to have a pre-lodgement meeting with Council about your planned development. And if possible, you should have the meeting during your due diligence period.
So what can you do to make your stitch count for nine, or maybe even a few more?
One of the biggest wastes of time and money when you're developing is having to make multiple amendments to your Council application. So if you can get it right the first time you apply, you save yourself the hassle of continually altering plans and resubmitting them, using up valuable time and potentially adding to your holding costs.
As a result, in property development the best stitch in time you can make is to have a pre-lodgement meeting with Council about your planned development. And if possible, you should have the meeting during your due diligence period.
So what can you do to make your stitch count for nine, or maybe even a few more?
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Will Getting A DA Give Me Instant Uplift?
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There's a common misconception in the industry that a development application (DA) will give you an instant uplift in the value of a property. I'm here to tell you that in many, many instances, that simply isn’t the case.
I've even seen instances where obtaining a DA has actually been detrimental to the property’s price because it's given insights into a property that have highlighted some issues and challenges.
On the flip side, I’ve also seen instances where obtaining a DA has produced a very handsome profit, so it’s a valid strategy. You can buy a site, put in a development application and then flick the property once it’s approved. Maybe you don't have the confidence or the money to take it all the way through to construction. Luckily, there are others who don't want the risk of the development approval stage. They want to buy a DA-approved site and take that through to construction and completion. Again, a perfectly valid strategy.
Knowing those two kinds of people actually exist, you've got to make sure that each person is going to get fed in the food chain, and still leave enough money on the table for the next person. So how much is that?
Well, that's the million-dollar question…
I've even seen instances where obtaining a DA has actually been detrimental to the property’s price because it's given insights into a property that have highlighted some issues and challenges.
On the flip side, I’ve also seen instances where obtaining a DA has produced a very handsome profit, so it’s a valid strategy. You can buy a site, put in a development application and then flick the property once it’s approved. Maybe you don't have the confidence or the money to take it all the way through to construction. Luckily, there are others who don't want the risk of the development approval stage. They want to buy a DA-approved site and take that through to construction and completion. Again, a perfectly valid strategy.
Knowing those two kinds of people actually exist, you've got to make sure that each person is going to get fed in the food chain, and still leave enough money on the table for the next person. So how much is that?
Well, that's the million-dollar question…
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How Do I Choose A Builder? - Key Tips You Need To Consider
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Doing a new build soon? Then you’ll be needing a Builder.
But don’t just pick the first available Builder – it has to be someone you can trust.
A ‘speculative’ build can be a relatively low risk strategy: pick up a block of land, add a house to it and then sell it as a finished product. But to limit the time frame and maximise your profit you need to feel confident your Builder is at the top of his/her game.
You’ll want to find someone who is easy to deal with and good at problem solving. Because there will always be problems!
There are two main choices: Project Builders and Custom Home Builders.
But don’t just pick the first available Builder – it has to be someone you can trust.
A ‘speculative’ build can be a relatively low risk strategy: pick up a block of land, add a house to it and then sell it as a finished product. But to limit the time frame and maximise your profit you need to feel confident your Builder is at the top of his/her game.
You’ll want to find someone who is easy to deal with and good at problem solving. Because there will always be problems!
There are two main choices: Project Builders and Custom Home Builders.
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Financial Freedom – What Exactly Is It And How Do I Get It?
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When you ask people why they’re interested in becoming a Property Developer, they always say financial freedom. But when you ask them what that looks like, they’re often distracted by someone else’s concept of financial freedom.
How many times have you come across slick marketing material with a property spruiker leaning on their Ferrari or Porsche promising you the world on the next get-rich-quick scheme? I can't believe how many times I've actually seen that out there! They’re promising luxury mansions and fast cars and around the world holidays, and sure, these schemes all look very attractive....
But I want to call bullshit on that…
Because to me, financial freedom is a much simpler beast.
It’s about creating enough passive income to cover all of your expenses so that your day job is optional.
How many times have you come across slick marketing material with a property spruiker leaning on their Ferrari or Porsche promising you the world on the next get-rich-quick scheme? I can't believe how many times I've actually seen that out there! They’re promising luxury mansions and fast cars and around the world holidays, and sure, these schemes all look very attractive....
But I want to call bullshit on that…
Because to me, financial freedom is a much simpler beast.
It’s about creating enough passive income to cover all of your expenses so that your day job is optional.
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Property Development Success - ‘The Golden Triangle’
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It's pushing the memory banks a bit, but some of you may remember an American sit-com called "Married With Children". In the theme song, it talks about love and marriage, and says "you can't have one without the other".
Which got me thinking about Property Development. A lot of the people I talk to view it as a very linear process - you buy a property, you do something to it to make it worth more, then you sell or hold the end result. A line.
But I believe successful property developments occur in the form of a triangle.
Which got me thinking about Property Development. A lot of the people I talk to view it as a very linear process - you buy a property, you do something to it to make it worth more, then you sell or hold the end result. A line.
But I believe successful property developments occur in the form of a triangle.
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What’s The Deal With Commercial Loans And When Will I Need To Get One?
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For anyone who hasn't done much in the way of Property Development, the concept of commercial lending is probably a bit vague. Most of us rely on residential lending.
But when you get into development there’s a good chance that as your projects scale up in size, you’ll eventually scale into commercial lending. The good news is that unlike standard residential loans, the terms for commercial property loans are often negotiable.
But before we break down the key differences between residential and commercial, let's take a quick look at what both you and the lender need to think about when it comes to loans.
But when you get into development there’s a good chance that as your projects scale up in size, you’ll eventually scale into commercial lending. The good news is that unlike standard residential loans, the terms for commercial property loans are often negotiable.
But before we break down the key differences between residential and commercial, let's take a quick look at what both you and the lender need to think about when it comes to loans.
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Driveway Crossovers -
Don't Wait To Reach That Bridge Before Crossing It!
Don't Wait To Reach That Bridge Before Crossing It!
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I talk a lot about finding sites that are both developable and profitable, because a strategy that works in one area might be a dud in another. It's the reason I developed my ‘Rapid Elimination Method’.
A standard ‘rookie’ mistake however, is to look at the size of the lot, look at the Council guidelines around lot sizes, do some maths and assume you will automatically be able to create that many new properties.
Reality is a little different, and it's often what's going on out the front of your property that's your biggest hurdle to developing a site.
So let's take a closer look at the humble driveway and surrounds…
A standard ‘rookie’ mistake however, is to look at the size of the lot, look at the Council guidelines around lot sizes, do some maths and assume you will automatically be able to create that many new properties.
Reality is a little different, and it's often what's going on out the front of your property that's your biggest hurdle to developing a site.
So let's take a closer look at the humble driveway and surrounds…
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Why Are Vendors Like Clothes Shopping?
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Have you ever noticed that dealing with Vendors is a bit like clothes shopping?
People tend to fall into two camps when it comes to clothes shopping - love it or hate it.
There are certain stereotypes around this, generally that women love clothes shopping and men hate it. And yet I know quite a few people who don't fit those stereotypes at all...
Well, it's the same with Vendors.
I talk a lot about working with Vendors to get special terms and conditions for a sale. Whenever I do, I can almost guarantee someone will say "But why would a Vendor do that? Wouldn't they just want to sell their property the normal way? It's so much easier."
And they're right - a lot of Vendors don’t want to do something different - they fit the stereotype. But that's where you have to be wary of falling into the trap of assuming all Vendors are the same...
People tend to fall into two camps when it comes to clothes shopping - love it or hate it.
There are certain stereotypes around this, generally that women love clothes shopping and men hate it. And yet I know quite a few people who don't fit those stereotypes at all...
Well, it's the same with Vendors.
I talk a lot about working with Vendors to get special terms and conditions for a sale. Whenever I do, I can almost guarantee someone will say "But why would a Vendor do that? Wouldn't they just want to sell their property the normal way? It's so much easier."
And they're right - a lot of Vendors don’t want to do something different - they fit the stereotype. But that's where you have to be wary of falling into the trap of assuming all Vendors are the same...
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Wreck-It Rob Is On The Job
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Go on, admit it. There's nothing quite like the sight of a bulldozer hard at work, demolishing an old house. The crack of timber, that last dizzying moment just before the final upright beam falls. It's even better when it's your very own development site.
BUT...before you get on the phone to the demolition company, STOP!
Timing the demolition of a house is a decision that requires preparation, both in terms of things you need to do, and in deciding the best timing as part of your strategy.
And as a sideline? If you or someone else is removing the existing house from the site, rather than demolishing it, it's still classed as a demolition and the steps below will still need to be followed.
So let's dig a little deeper on this…
BUT...before you get on the phone to the demolition company, STOP!
Timing the demolition of a house is a decision that requires preparation, both in terms of things you need to do, and in deciding the best timing as part of your strategy.
And as a sideline? If you or someone else is removing the existing house from the site, rather than demolishing it, it's still classed as a demolition and the steps below will still need to be followed.
So let's dig a little deeper on this…
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Should It Stay or Should It Go?
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You've done the learning. You've done your research. And now you've found a cracker of a site. With a house on it. What now? Should you keep the house or get rid of it?
That's a question I get asked a lot, and the problem is, it falls into the "how long is a piece of string?" category of question. Because the answer is inevitably "it depends"...
So let's take a look at the various things "it depends" needs to tick off before you can make a decision...
That's a question I get asked a lot, and the problem is, it falls into the "how long is a piece of string?" category of question. Because the answer is inevitably "it depends"...
So let's take a look at the various things "it depends" needs to tick off before you can make a decision...
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Vendor Financing 101
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So you’ve found a great development site.
It ticks all the boxes for delivering a profitable project. You’ve done your due diligence and you know you can get Council on board, the Builder lined up and the Buyers excited. It’s taken months of research and expert consultation.
But there’s one BIG problem.
You can’t get finance.
The banks have said no, your brother says no and your investment buddies don’t have any spare cash to send your way.
The property deal of the year is slipping through your fingers and it’s making you think this whole development caper is just too hard.
You could walk away. But I’ve got a better idea….
How about you get creative?
One of the strategies you’ll hear me talk about a lot is no (or low) money down deals. They’re a magical method for getting deals over the line when you don’t have enough of your own funds to put into the deal.
And one of the best no money down strategies is to get the Vendor to finance the deal directly...
It ticks all the boxes for delivering a profitable project. You’ve done your due diligence and you know you can get Council on board, the Builder lined up and the Buyers excited. It’s taken months of research and expert consultation.
But there’s one BIG problem.
You can’t get finance.
The banks have said no, your brother says no and your investment buddies don’t have any spare cash to send your way.
The property deal of the year is slipping through your fingers and it’s making you think this whole development caper is just too hard.
You could walk away. But I’ve got a better idea….
How about you get creative?
One of the strategies you’ll hear me talk about a lot is no (or low) money down deals. They’re a magical method for getting deals over the line when you don’t have enough of your own funds to put into the deal.
And one of the best no money down strategies is to get the Vendor to finance the deal directly...
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How Do I Get Started In Property Development?
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If I had a top 10 list of questions I get asked most often, then "How do I get started in Property Development?" would definitely be in the TOP 3, and possibly TOP of the list. Which is a good thing, as finding out what you don't know is better than just deciding it's too hard and not bothering to start.
So, do you want the good news or the good news? Okay, let's start with the good news...
Getting started in Property Development is easy if you have a process to follow. That’s why I developed my 'Rapid Elimination Method' for finding deals that are both developable and profitable.
So, do you want the good news or the good news? Okay, let's start with the good news...
Getting started in Property Development is easy if you have a process to follow. That’s why I developed my 'Rapid Elimination Method' for finding deals that are both developable and profitable.
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4 Words Guaranteed to Strike Dread Into Your Heart - “One Size Fits All”
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All vendors just want to sell their property the normal way, right? The human equivalent of “One Size Fits All.”
And yet we’ve all seen an item of clothing we like, picked it up, and discovered the dreaded "One Size Fits All" tag. We feel an immediate chill. Because although something like a scarf might manage to deliver on that promise, pretty much anything else won't. Humans vary too much in height, weight, shape, bone structure, and a whole lot more.
Vendors are much the same - in that they're not all the same size. I talk a lot about doing deals with no money down, and often that involves talking to the vendor about ways to get a deal across the line with their help.
That help can happen in many different ways, and there are 6 main ways that I share regularly. My 3 favourites, though, are vendor finance, delayed settlement with early access, and doing a joint venture with the vendor. I like these the best because they provide the opportunity to pay more for the property (which makes the vendor happy) without affecting profitability (which makes me happy!), thanks to the savings in holding costs .
Let's look at those one at a time...
And yet we’ve all seen an item of clothing we like, picked it up, and discovered the dreaded "One Size Fits All" tag. We feel an immediate chill. Because although something like a scarf might manage to deliver on that promise, pretty much anything else won't. Humans vary too much in height, weight, shape, bone structure, and a whole lot more.
Vendors are much the same - in that they're not all the same size. I talk a lot about doing deals with no money down, and often that involves talking to the vendor about ways to get a deal across the line with their help.
That help can happen in many different ways, and there are 6 main ways that I share regularly. My 3 favourites, though, are vendor finance, delayed settlement with early access, and doing a joint venture with the vendor. I like these the best because they provide the opportunity to pay more for the property (which makes the vendor happy) without affecting profitability (which makes me happy!), thanks to the savings in holding costs .
Let's look at those one at a time...
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Don't Give Up Your Day Job - Yet!
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Financial Freedom. Don't you just love that phrase? I hear it a lot - mostly when I ask people what they want to achieve by becoming a property developer.
But there's a problem - what exactly IS financial freedom? And it's when I ask that question that people start to stammer, and look confused, and don't really know what to say. They’ve heard the phrase mentioned, they know they don’t want to work in their job anymore, but don’t have any actual numbers or plan to make that happen..
So let's take a look at what you need to do if you want to transition from your day job into property development...
But there's a problem - what exactly IS financial freedom? And it's when I ask that question that people start to stammer, and look confused, and don't really know what to say. They’ve heard the phrase mentioned, they know they don’t want to work in their job anymore, but don’t have any actual numbers or plan to make that happen..
So let's take a look at what you need to do if you want to transition from your day job into property development...
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What Do You Want To Be When You Grow Up?
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We constantly ask our kids what they want to be when they grow up, and the answers can be pretty amazing. But as adults, we don't often stop and think seriously about our dreams and goals.
I often ask people this sort of question, and given what I do, it's probably not surprising to find that the two most common answers I hear are "property developer" and "property investor".
And although you might think the two are interchangeable, it might surprise you even more to discover that they're actually quite different.
Let's take a look at the 5 main ways they differ...
I often ask people this sort of question, and given what I do, it's probably not surprising to find that the two most common answers I hear are "property developer" and "property investor".
And although you might think the two are interchangeable, it might surprise you even more to discover that they're actually quite different.
Let's take a look at the 5 main ways they differ...
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Why Can’t I Find A Site To Develop?
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There’s a great Henry Ford quote you may have heard -
“Whether you think you can or you think you can’t, you’re right.”
I’ve found this to be especially true when people are starting out in property development and they’re on the hunt for development sites.
Those who feel confident they’ll find a site put in the hard yards and, in due course they find a site. Those who are convinced they won’t find a site, and tell themselves there are no deals to be had for love or money, well, guess what? Somehow there are no opportunities. It’s basically a self-fulfilling prophecy.
Mindset is a key ingredient for success in any endeavour, it doesn’t matter if you’re an athlete, a CEO or a salesman. If you don’t believe you can do something it’s going to be truly difficult to get it done.
Sir Walter Scott believed that success or failure in business was more the result of mental attitude than mental capacity and I’m inclined to agree with him. That’s why the Property Developer Network has such a focus on the psychology side of the business....
“Whether you think you can or you think you can’t, you’re right.”
I’ve found this to be especially true when people are starting out in property development and they’re on the hunt for development sites.
Those who feel confident they’ll find a site put in the hard yards and, in due course they find a site. Those who are convinced they won’t find a site, and tell themselves there are no deals to be had for love or money, well, guess what? Somehow there are no opportunities. It’s basically a self-fulfilling prophecy.
Mindset is a key ingredient for success in any endeavour, it doesn’t matter if you’re an athlete, a CEO or a salesman. If you don’t believe you can do something it’s going to be truly difficult to get it done.
Sir Walter Scott believed that success or failure in business was more the result of mental attitude than mental capacity and I’m inclined to agree with him. That’s why the Property Developer Network has such a focus on the psychology side of the business....
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Help! How Do I Choose A Council To Farm?
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If you’re going to make it as a property developer, you’ll need to be able to sell the blocks of land and new dwellings that you create. So you don’t want to take pot luck on location – you’ll want to take a careful look at which area has the most potential for success using your chosen development strategy.
You’ll quickly discover there are 537 councils in Australia, and because each council has its own rules and regulations, that means there are 537 different ways of executing your chosen development strategy.
Whether you intend to do sub-divisions or splitters, duplexes or townhouses, brownfield or greenfield development, the best way to maximise your opportunities is to choose one council and become an expert in the development rules of that council.
But how do you pick just one council when there are so many to choose from...?
You’ll quickly discover there are 537 councils in Australia, and because each council has its own rules and regulations, that means there are 537 different ways of executing your chosen development strategy.
Whether you intend to do sub-divisions or splitters, duplexes or townhouses, brownfield or greenfield development, the best way to maximise your opportunities is to choose one council and become an expert in the development rules of that council.
But how do you pick just one council when there are so many to choose from...?
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6 Mistakes Rookie Property Developers Make
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I get it. Starting out as a property developer can be a scary thing, mostly because you don't know what you don't know. You know?
Seriously, though, it makes sense that if you haven't developed property before, there are lots of things you're going to come up against that you haven't faced before. And when you step out into unknown territory, there's the risk of making a mistake.
So I'm going to make it easier for you, and share the 6 mistakes rookie property developers make. That way you can leapfrog over all the other rookies who don't have a clue, and make sure you don't fall into any of the really basic potholes on the road to development success...
Seriously, though, it makes sense that if you haven't developed property before, there are lots of things you're going to come up against that you haven't faced before. And when you step out into unknown territory, there's the risk of making a mistake.
So I'm going to make it easier for you, and share the 6 mistakes rookie property developers make. That way you can leapfrog over all the other rookies who don't have a clue, and make sure you don't fall into any of the really basic potholes on the road to development success...
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"I've set myself a personal goal of setting 1,000 people financially free by the year 2030 through my education and mentoring programs.
I'm looking forward to you joining us."
I'm looking forward to you joining us."
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Rob Flux
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