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Starting in property development can be overwhelming, with numerous pitfalls to watch out for. To set yourself up for success, it’s crucial to consider some essential factors before diving in. These essential factors can help developers make informed decisions, minimise risks, and maximise profitability. 

This is extremely important when it comes to those who are just getting started with property development. Seeking advice and educating yourself before embarking on your journey can significantly reduce the risk of costly mistakes in the long run. To avoid these common mistakes, why not gain these valuable insights from the industry experts first hand? 

In this week’s episode, Bob and Hilary discuss common mistakes newbies make in property development. They dive into common mistakes, the importance of research and conducting market analysis before jumping in and how there could be potential dangers of insufficient research. So if you are looking to dive into property development and want to gain valuable knowledge before you get started, you won’t want to miss this week’s episode! 

Episode Highlights:

• Bob’s tip of the week [00:53]

• Common mistakes newbies make in property development  [02:17]

• Number 1: insufficient research  [03:16]

• Number 2: over or under estimating profit margins  [08:23] 

• Number 3: lack of planning and budgeting   [13:41] 

• Number 4: ignoring due diligence [19:45]

• Number 5: ineffective sales and marketing  [24:00]

• Where are the pitfalls on choosing the wrong agent and marketing strategy [23:50]

• Should you give your marketing on completion to the agent who sold you the site?  [28:54]

• New membership program launching! [35:06]

Throughout the episode, we also touched on Hilary’s new book, 3 Wines In. To learn more click here: www.hilarysaxton.com

About Hilary Saxton:

Hilary Saxton is a performance and mindset strategist who motivates, trains, and coaches people who crave knowledge and success in their property and business life. Hilary has had a varied career in property and business spanning at around more than 25 years now. She takes an honest, upfront approach towards both people and process issues. Hilary provides solutions through incremental and transformational change that delivers the success her clients both want and need.

About Bob Andersen: 

Bob Andersen (known in the property industry as “The Deal Maker”) is a Property enigma. When it comes to creating financial freedom for his followers, his “thinking” is refreshingly simple. He has the ability to make the seemingly complicated, uncomplicated. Bob has changed the lives of so many people by training them to use property development as a vehicle to build substantial cashflow and long term wealth. This in turn, has given them control over their lives and a lifestyle they could previously only dream about. It has been said that Bob has created more property millionaires in Australia than any other educator / mentee out there through his highly acclaimed property development courses. Thank goodness for Bob! Because there are way too many so-called Property education experts out there. Several, even past students, have ‘borrowed’ Bob’s material in an attempt to ‘be Bob’. As Bob says, “I must have done something right, but you can’t ‘borrow’ over 35 years of experience and over $1 billion worth of projects spread across all states of Australia and in all stages of the property cycle”. 

Resources:

• To contact us about our investment opportunity, please email admin@propertymastermind.com.au or phone 1300 729 550
• If you’re interested in winning a free copy of the book “Secrets of Property Millionaires Exposed”, go ahead and leave a comment or send me an email. We’d love to hear from you!
• If you liked this episode, or have any comments and/or suggestions on how we can make this better, don’t hesitate to send us an email. For questions/things you’d like us to cover and discuss in this podcast, again, you can send an email at hilary@propertymastermind.com.au
• If you’re interested in receiving a free copy of the book “Secrets of Property Millionaires Exposed”, send an email to hilary@propertymastermind.com.au! 
• Or Subscribe and give us some great feedback on YouTube: https://www.youtube.com/channel/UCt31KlQu9azoojEHPLvXgmA

Connect with Hilary Saxton:

• Property Mastermind Facebook: https://www.facebook.com/PropertyMastermind
• Property Developer Secrets and Hacks Facebook group: https://www.facebook.com/groups/2581187315284341
• Hilary Saxton Facebook: https://www.facebook.com/HilarySaxtonCoach

• Instagram: https://www.instagram.com/hilarysaxtonproperty/
• LinkedIn: https://www.linkedin.com/in/hilary-saxton/
• YouTube: https://www.youtube.com/channel/UCt31KlQu9azoojEHPLvXgmA
• Property Mastermind Website: https://www.propertymastermind.com.au/

It has been a pleasure and we look forward to seeing you in the future episodes!