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: http://www.hilarysaxton.com
