Ep. 197 - Rookie Development Mistakes to Avoid

Property development is full of moving parts, and while the rewards can be great, rookie mistakes can cost you time, money, and momentum. In this episode of the Property Mastermind Podcast, Hilary Saxton and Bob Andersen walk through the most common—and avoidable—mistakes that new (and even experienced) developers make. From choosing the wrong structure or builder, to skipping key steps in due diligence or rushing finance, this episode is packed with practical tips for avoiding costly errors. Hilary and Bob also share insights from their recent masterclass and reflect on real experiences that highlight what not to do. Whether you're starting out or want a refresher, this episode will help you stay on track and develop smarter. 🎧 Listen now and learn how to sidestep common pitfalls in your next project. Episode Highlights [00:00] Introduction – Episode preview and book giveaway to a listener. [03:11] Structure matters – Why setting up the right entity early can prevent legal and tax problems. [05:50] Rookie finance errors – How not knowing what you can afford can derail your project. [07:43] Choosing a patch – The danger of spreading your search too wide and the value of market knowledge. [14:08] Due diligence basics – Zoning, connections, overlays, and why site checks are critical. [16:51] Subdivision risks – Why larger subdivisions require upfront investment to assess viability. [20:12] DIY feasibility mistakes – Overlooking costs, relying on agent feasos, and emotional decision-making. [24:07] Purchasing issues – Contracts, finance timing, and how banking delays can impact settlements. [26:20] Approvals and planning – Misunderstanding council processes and town planning expectations. [28:17] Construction mistakes – Don’t choose a builder based on price alone—communication matters. [32:06] Marketing missteps – Why the right agent makes a difference and why discounting commission can backfire. [35:55] Settlement and post-project tips – Why celebrating with your team is smart for building long-term relationships. 🏠🏠🏠 Check out all the episodes - https://bit.ly/3ZDe2fZ  🔑 Exclusive Property Mastermind Mentoring - https://bit.ly/4ieAu6B 🔑 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  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.