EP 152: When Due Diligence Goes Wrong

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Due diligence is a crucial step in any property investment or development process. It involves thoroughly researching and analyzing all aspects of a potential investment to ensure that it is a sound and profitable opportunity. Before diving into property development it is extremely important to know the significance of due diligence and the consequences that can occur when it goes wrong.

There are several key points for thorough due diligence to avoid potential pitfalls and risks. This includes researching the property market, conducting property inspections, reviewing financial documents, and assessing potential risks and challenges. By taking the time to thoroughly investigate all aspects of a potential investment, investors can make informed decisions and mitigate potential risks.

In this week’s episode, Hilary and Bob talk about when due diligence goes wrong. They share case studies where due diligence went wrong and unpack the importance of thorough due diligence in property development. So join us in this week’s episode where you will learn from the most experienced property developer, helping you avoid costly mistakes!

Resources:

To learn more about our Joint Ventures Workshop we have coming up, please click here: https://www.propertymastermind.com.au/joint-ventures-workshop/

Or to speak with us directly, click here: https://www.propertymastermind.com.au/schedule-an-appointment/

Episode Highlights:

Explanation of Due Diligence [05:03]

Case Study: Mining Subsidence[07:00]

Case Study: Real Estate Agent and Flooding [10:55]

Importance of Checking Zoning [15:02]

Case Study: Stormwater Issues in Large Developments [21:02]

Case Study: Competitor’s Due Diligence Failure [25:29]

Lessons from Due Diligence Case Studies [27:06]

Importance of Feasibility for Financing [31:14]

Conclusion and Final Thoughts on Due Diligence [33:03]

Final thoughts

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”.

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

Ep. 175: How Assumptions Can Cost You Money In Property Development

In this week’s episode, Hilary and Bob discuss how assumptions can cost you money in property development. They dive into the potential pitfalls of making assumptions and how it can lead to significant problems if due diligence is overlooked. They also emphasise the importance of thorough follow-up and critical thinking in property dealings and interpersonal interactions. Tune in and learn from real-life mistakes and how to avoid those costly pitfalls!

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Ep. 174 – How Much Money Can You Realistically Make In Property Development

In this week’s episode, Hilary and Bob dive into the question: how much money can you realistically make in property development. They discuss various types of projects, the impact of location, and the importance of understanding profit margins. They also highlight the differences between duplexes, townhouses, and larger developments, as well as strategies for maximising profits through effective financing and investment approaches.

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Ep. 173: From the NRL To Property Developer (with Gary Martine)

In this week’s episode, Hilary and Bob talk with a previous mentoring student Gary Martine. Gary shared insights from his diverse journey and emphasised the importance of relationships in achieving success. Also highlighting how these connections have played a crucial role in both Bob and Gary’s life.

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Kind Words From Our Students

Robyn Wawn

"From Bob’s training, I learned there is more than one way to skin the property development cat."

From Bob’s training, I learned there is more than one way to skin the property development cat. I purchased my property with no money and leveraged off creative ways to finance its development and to take it in stages to reach its full potential. I am also team-building with the right professionals to delegate to who provide value for money to get the project underway and stay on track.

Cameron Bloomfield

"It is highly detailed but logical and easy to follow."

Having now purchased and studied all that is available on the market, Property Mastermind was the most comprehensive. It is highly detailed but logical and easy to follow.

Gary Sherdon

"I would have no hesitation in recommending this course and have done so on many occasions."

I would like to thank Bob and Hilary for the opportunity to participate in The Property Accelerator. I enjoyed the learning experience both online and in person. This has allowed me to implement knowledge and given me confidence to pursue Property development. In this time I have committed to two duplexes and am currently working on a splitter. The splitter involves a boundary realignment plus renovation and then construction of a second dwelling. This is being done in a JV arrangement (another of Bob’s strategies). I would have no hesitation in recommending this course and have done so on many occasions.

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