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Sarthak

Sarthak

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1. Do careful pre-purchase due diligence Don’t believe the selling agent when he tells you the property will make a great development site. You need to undertake careful areas due diligence including checking the council zoning, as well specific property due diligence. 2. Get your budget right Do a detailed feasibility study – be realistic rather than optimistic and include all the little costs beginners tend to forget. Then allow a contingency in case unforeseen costs crop up, because they always will! 3. Don’t overpay It’s important to buy your development site at a price that allows you to make a fair profit; otherwise you’re immediately at a disadvantage. 4. Get a good team around you Your team is likely to involve a property lawyer, accountant, finance broker, architect, real estate agent and a project manager to oversee the whole process. And remember…if you’re the smartest person in your team, you’re in trouble. 5. Be realistic about your schedule It’s not unusual for developers to be overly optimistic with their scheduling. Setting realistic time frames will help you budget more accurately and remember to set aside some contingency money in case unforeseen problems stretch your schedule. Source: x 10 Golden Rules of Property Development With our property markets bubbling along nicely many investors are looking at taking the next step and getting involved in property development.While the propertyupdate.com.au
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Anuj

Anuj

Adrian Wilson, principal and director of AYRE Real Estate, has shed light on what he and his team have experienced during the pandemic – and how they’ve had to adapt their selling strategies as a result. Mr Wilson and his team scooped up the New Office of the Year Award at this year's REB Awards, produced by Smart Property Investment’s sister brand REB.  Mr Wilson’s top three things to expect when selling in a pandemic: 1. Longer days on market for private treaty and shorter days on market for auction “Many sellers are accepting pre-auction offers, which is reducing the days on market,” Mr Wilson said. “Whether you’re selling via auction or private treaty, often the best offers come in within the first week or so, so be prepared to jump on a genuine offer at the right level. 2. Increased advertising “Now is not the time to skimp on the advertising budget,” Mr Wilson told home owners. “Your agent should be proposing a well-rounded, wide-net approach or its likely you will be missing crucial buyer opportunities. It’s more important than ever to invest in a quality campaign.” 3. Less buyers through the door “But don’t panic, even though we are experiencing lower numbers, those who are coming through are generally more qualified. This isn’t a bad thing, as it means that serious buyers have a better opportunity to engage with the agent and inspect the property in detail,” Mr Wilson flagged. Continue reading at:x 5 tips for selling property in a pandemic There are five things home owners should be wary of when selling in a pandemic, according to an award-winning agent. www.smartpropertyinvestment.com.au
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