What Is A Development?

Property development is the process of improving a property or piece of land. In the case of investing in property the aim of a property development is to make a lump sum cash profit on completion. Renovations can be one way of developing a property but for the purposes of this website a property development will be the process of building a new residential dwelling.

 

Building new residential developments can be as easy as buying a vacant block of land with plans and permits to build, or more complex as developing multi unit sites. You can choose to go through the whole council process until building completion, or do part of the process and sell. Property Development is a more advanced investing strategy but with the right system and knowledge it is nothing to be scared of. Choose a level where you would be comfortable to begin and start researching.

When doing a property development it is important to build a team of people that include real estate agents, council and draftspersons. Your team has to have an understanding of what can be done, what are the costs involved, and who is your target market for the end product.

As part of Property Systems' commitment to education, we are creating a free dedicated Development Property Investing Principles course that you can join as part of being a member. Our expert panel have literally built hundreds of homes and so if there is a mistake to be made they have done it. If there is a profit to be made, they know how!

A typical Property Development can take 9 months from start to finish, but this can be blown out significantly in time or money if things go wrong. Alone, a project running 1 month overtime can cost you thousands and cut into your profits. Our four week course is designed to give you the foundations in developing so you can avoid the biggest mistakes that most developers take eight to ten projects to learn.

Most people that get into developing start with renovating with the goal of being able to outsource the hard work and reap the benefits. By building a development project you are essentially using your knowledge and project management skills to create a profit. It is a step by step process which is rewarding and fun for those who focus on this strategy in their investing.