Ep. 192 - The Importance of Due Diligence in Property Development

Due diligence is one of the most important steps in property development. Rushing into a deal without checking key factors can lead to costly mistakes, delays, or even financial loss. In this episode of the Property Mastermind Podcast, Hilary Saxton and Bob Andersen break down the essential due diligence steps that every developer must follow. From zoning and legal checks to environmental risks and financial feasibility, they explain how to avoid buying a site that could become a liability. Hilary and Bob also share real-world stories of developers who failed to do proper due diligence and paid the price. This episode will help you understand what to check before purchasing a development site and how to protect your investment. If you’re serious about property development, understanding due diligence is a must. - Don't miss the upcoming 3.5 hour Masterclass with Bob - he is showing the real world applications of what we teach our students. - Episode Highlights [00:00] Introduction – Why due diligence is essential in property development. [02:07] Real-Life Example of Due Diligence Gone Wrong – A costly mistake due to poor research. [05:27] What Is Due Diligence? – Definition and why developers must follow it. [07:14] The Biggest Reasons People Skip Due Diligence – Common mistakes and how to avoid them. [08:16] Zoning and Legal Checks – How zoning laws impact development potential. [13:51] Understanding Council Regulations – Why zoning changes can affect your project. [16:39] Financial Due Diligence – The importance of feasibility and cost estimation. [19:05] Common Feasibility Mistakes – Why developers miscalculate and how to get the numbers right. [21:18] Environmental Risks & Site Considerations – Flooding, soil contamination, and tree protection laws. [26:20] A Development Saved by Strong Due Diligence – How checking flood overlays prevented a disaster. [32:06] The Cost of Cutting Corners – Why skipping checks can cost thousands. [35:14] Working with Experts – When to engage planners, surveyors, and consultants. [38:42] Reviewing Historical Site Data – How past land use can impact future development. [40:18] Can You Develop Interstate Without Visiting? – Remote due diligence strategies. [42:05] Upcoming Masterclass – Deep dive into feasibility and due diligence on March 29. [43:03] Final Takeaways – The most important steps for effective due diligence. See omnystudio.com/listener for privacy information.