With anything in life there are always pros and cons to weigh out when you’re making a decision, especially when it comes to property development. Property development is one thing but when you start to wonder outside the lines and look into developing outside of your area you want to make sure you know what works and what doesn’t.
Though it might seem a little scary at first, developing remotely can be a lucrative and rewarding venture for property developers but it requires a strong team to ensure its success. Communication is also critical in remote development, you must be able to effectively communicate with your team on the ground to ensure that the projects are progressing as planned.
In this week’s episode, Bob and Hilary discuss the pros and cons of developing property remotely. They emphasise the importance of having a good team on the ground in the remote location, reductions in stamp duty and council contributions and the potential of tax benefits. So if you have been thinking about expanding your property development but are not sure if it is the right move, you won’t want to miss this week’s episode!
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If you’d like to download Hilary’s new ebook, 30 Day Consistency Plan, click here: https://www.propertymastermind.com.au/webdev/wp-content/uploads/2023/05/Property-Mastermind-30-Days-Of-Productivity.pdf
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Episode Highlights:
- Hilary’s new book [01:06]
- Diversification [03:11]
- Tax benefits [04:05]
- Spreading risk [06:48]
- Investing in WA [10:32]
- The expansion of your network [11:50]
- Choosing areas with higher rentals [15:09]
- What about the negatives? [16:24]
- Reminder Ep 101 was skipped [25:13]
- New program, course [25:40]
