Ep 252 - The Property Development Proof Most Beginners Need to See

Do you ever wonder if those massive property development profits are actually real? For beginners, it is easy to look at the numbers and assume they are either exaggerated or completely out of reach for everyday people. In this episode of the Property Mastermind Podcast, hosts Hilary and Bob provide the ultimate proof that beginners need to see. They break down a real-life case study from one of their mentoring students, Tom Evans, who recently presented his first project at their Gold Coast workshop. Starting with a 350-square-metre block in Margate purchased for $375,000, Tom built three townhouses that resulted in a staggering $607,000 profit. Bob and Hilary unpack the exact feasibility numbers, discuss why a 52.6% return on cost is absolutely phenomenal, and explain how Tom acted as the "CEO" of his project to coordinate a highly successful build. If you have been sitting on the fence, this episode is the reality check you need to get started.Links Attend the 3 Day Workshop: https://www.propertymastermind.com.au/events/3-day-workshop/  Chat to Hilary about the current investment opportunity we have: https://link.propertymastermind.com.au/book-a-call Join the Ultra-Urban Database for upcoming investment opportunities: https://bit.ly/45sqO2F Head on over to our website to find out more about our workshop and education options: Our Website Connect with handovers.com: https://handovers.com/   Episode Highlights 02:19 - Bob's Tip of the Week: "You are the CEO of your project." Why developers shouldn't get bogged down in the tools, but rather act as the orchestrator who coordinates the professionals. 04:06 - The Workshop Energy: Hilary reflects on the phenomenal atmosphere at their recent 3-day Gold Coast workshop and introduces Tom Evans’ incredible case study. 08:34 - The Margate Deal Breakdown: A deep dive into Tom's site—a 350-square-metre block in Margate, Queensland, bought for just $375,000. 10:48 - The Final Numbers: Revealing the feasibility results. With a Total Development Cost (TDC) of $1.268 million and gross sales of $1.875 million, Tom walked away with an incredible $607,000 profit on his first deal. 11:51 - A 52.6% Return on Cost: Bob explains why a 52% margin is massive, especially when banks typically only require a 15% to 20% margin to approve commercial finance. 14:14 - The Importance of Contingency: How Tom correctly utilized a 5% contingency to buffer unexpected costs, ensuring his feasibility remained rock solid throughout the build. 17:09 - Building the Dream Team: How Tom successfully leaned on his mentor, town planner, and finance broker to orchestrate the development, proving that you don't need to know everything if you hire the right team. 24:20 - Overcoming the Fear: Why beginners need to stop letting fear hold them back and realise that life-changing, $600k+ profits are entirely possible with the right education and action. See omnystudio.com/listener for privacy information.