Ep. 187 - Finding A Viable Development Site

Choosing the right site is one of the most critical steps in property development. In this episode of the Property Mastermind Podcast, Hilary Saxton and Bob Andersen break down exactly what makes a site viable, the common mistakes developers make, and how to avoid costly pitfalls. They discuss key factors like zoning, market demand, financial feasibility, and infrastructure, providing a step-by-step guide to finding and assessing a great development site. Whether you're a beginner or an experienced developer, this episode will help you make smarter decisions and avoid costly mistakes. Episode Highlights Welcome and Overview [00:00] – Introduction to the episode and why finding the right site is crucial for success. The Reality of Property Settlements [02:03] – Why 30% of property settlements don’t happen on time and what to expect. The Risks of Choosing the Wrong Site [03:31] – Common mistakes developers make, including miscalculating costs, overestimating values, and skipping due diligence. Understanding Market Demand [06:51] – How emotions and impatience can lead to poor decisions when choosing a site. The Importance of Due Diligence [08:02] – Why failing to check flood overlays, sewer mains, and other hidden risks can derail a project. A Successful Site Example [09:31] – How a recent duplex project ticked every box, from location to builder selection, and why it was so smooth. Learning from Mistakes [12:46] – Bob shares a personal story of a tough market downturn and how he recovered. Key Factors in Finding a Viable Site [20:40] – The importance of zoning, location, transport access, and local regulations. Working with Council Regulations [23:18] – Why councils can be unpredictable and how to navigate changing policies. Knowing Your Market [27:17] – Why visiting open homes, speaking to agents, and researching local sales are essential. Ensuring Financial Feasibility [34:21] – Why crunching the right numbers upfront determines project success. Final Takeaways [37:44] – Recap of key steps and an invitation to join the upcoming lunchtime masterclass on site selection. ⭐️⭐️⭐️⭐️⭐️ Check out all the episodes - https://bit.ly/3ZDe2fZ  ⭐️⭐️⭐️⭐️⭐️ Property Mastermind Courses: 👉 Getting Started in Property Development - https://bit.ly/4iwTI7E👉 The Ultimate Property Development Bundle - https://bit.ly/3OH4VVy  ⭐️⭐️⭐️⭐️⭐️ Property Mastermind Events: 👉 The 3-Day Live Workshop - https://bit.ly/3ZnBe0j 👉 Full Event Schedule - https://bit.ly/4g0inzD  ⭐️⭐️⭐️⭐️⭐️ 🔑 Exclusive Property Mastermind Mentoring - https://bit.ly/4ieAu6B 🔑 ⭐️⭐️⭐️⭐️⭐️ Connect with us: 👉 Property Developer Secrets & Hacks on Facebook - https://bit.ly/49r6kJo 👉 Facebook Page - https://bit.ly/3D2eH1S 👉 Instagram - https://bit.ly/3D1a7AP👉 YouTube - https://bit.ly/3Vp4ToG  ⭐️⭐️⭐️⭐️⭐️See omnystudio.com/listener for privacy information.