Ep. 167 - Is It Worth Buying A Site with Development Approval?

In this week’s episode, Hilary and Bob discuss whether it is worth buying a site with a development approval. They focus on what to look for when a DA has already been lodged and share insights into the intricacies of site acquisition and the importance of understanding existing approvals. So if you are considering purchasing a property with a DA, this episode is worth a listen. Episode Highlights:  Bob’s tip of the week [00:53] Importance of Knowing What You're Buying [02:33] Benefits of Buying Sites with DAs [03:02] Personal Experience with Development Syndicates [04:34] Example of a Poorly Designed DA [06:31] Detailed Analysis of a Bad DA Design [07:00] Inexperienced Landowners and Architects [11:02] Potential Motivations for Getting a DA [12:02] Consequences of Bad DA Designs [12:42] Example of a Failed DA Project [13:56] Due Diligence When Purchasing DA Sites [18:46] Importance of Reviewing Plans and Conditions [19:26] Construction Cost Considerations [21:02] Common Issues with DA Sites [23:13] Example of a Successful DA Purchase [26:14] Potential Pitfalls of Over-Designing [30:36] Example of a Site Worth Less with a DA [33:21] Workshop Reminder & conclusion [35:03] 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. Listen to the Bounce Back Better Podcast: https://episodes.fm/1707096100 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”.  Connect with Property Mastermind:  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/propertymastermind/ YouTube: https://www.youtube.com/channel/UCt31KlQu9azoojEHPLvXgmA Property Mastermind Website: https://www.propertymastermind.com.au/ See omnystudio.com/listener for privacy information.