In this six part series Gavin Taylor, takes readers on a step by step journey through the process of property development and reveals how to become one of the success stories.
With the good old boom days of Australia's property markets well and truly over, many investors are considering how they can become more actively involved in growing the value of their property portfolio.
Simply sitting back and waiting for your equity to snowball is no longer an option, so pro-active property investors are contemplating donning the developer's hat and physically adding value to their assets in a bid to increase profits.
Over the years, we have seen many developer-investors succeed in their endeavours, we have also seen many fail. Generally they all start out with the best intentions, but some never make it beyond the starting line and some fail to reap any rewards at the completion of their project.
In this first part of our development series I will explain the following four critical points you must understand before undertaking a development;
• What property development is all about
• How to determine if you have what it takes to be a successful developer
• Why you should consider property development
• Acquiring a property development team of professionals
To read the full article, get the latest issue of Your Investment Property magazine out on sale now.
It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan