Building Financial Success through Property Development
If the stock-market is not for you then bricks and mortar is the way to go. Buy at the right time, the right place and right price, and you can retire wealthy. Property is one of the smartest ways to invest your money.
Dveloping property is a sound real estate investment strategy essentially maximising depreciation benefits while minimising out-of-pocket expenses, given that brand new investment property means generally lower maintenance costs.
Having a quick glance at the rich list in Australia it is clear the majority of their wealth was created in property.
Research shows what is not generally known is that the astute property investors on the BRW Rich 200 list are consistently generating safe and higher than average returns not by paying retail prices like most, but by accumulating properties at wholesale via property development.
By acquiring properties via property development you will be able to grow wealth safely as well as achieve a better return on investment (ROI) enabling you to reach your financial goals a lot faster, allowing to Build Financial Success.
Developing provides the cost savings of acquiring property as a developer at cost price, as opposed to acquiring property as an investor at retail price.
The 10 steps of completing a residential development from beginning to end:
1. Identify Site
2. Initial Analysis – Feasibility & Due Diligence
3. Final Analysis – Complete Feasibility and Due Diligence
4. Negotiate & Acquire Property (Subject to finance)
5. Obtain Finance
6. Development Planning & Design
7. Council Approval
10. Sales & Marketing
Residential developments are not easy, but you can be successful if you’re prepared to put in the hard work and learn before you get started.
If you have money to invest, are asset rich and time poor, or your superannuation fund has been underperforming, then residential property development may be a viable strategy for you.
If you would like some assistance with your Development Project contact us here.