Have you always dreamed of starting a property portfolio and becoming a property developer? If you’ve ever driven past a Perth subdivision and thought to yourself that perhaps you could enter the market by way of property development, the life of a property developer could be for you!
If the following statements sound like you, then Perth property development just might be your next venture.
Property excites you
If you’re passionate about property, you are not alone! Many professional developers enjoy the process of finding the right property to develop and the challenge of creating a custom solution that meets market needs – while supporting their own wealth creation plans! Many people start by finding out as much as they can on property development by researching online, buying books and signing up for information courses. So fuel your property passion by educating yourself on property development and the market, so you have a solid foundation to begin with.
You have lots of questions
If you have a lot of questions to ask, it’s only logical that you speak to property developers themselves. Take up the opportunity to talk to professionals and mix with like-minded property investors and developers. You don’t even need to leave the comfort of your home, as there are many forums and chat groups dedicated to property developing. If you are looking to connect with local developers, consider attending a networking function which will allow you to meet a variety of people within the industry. Many developers are happy to share their knowledge with you, which is a great opportunity for you to learn from someone else’s experiences.
You know exactly where you would like to build
After looking into r-codes, reading up on local council regulations, and knowing where others have already built, knowing where exactly you want to develop and start your investment portfolio is a great advantage before approaching your builder of choice. Once you have picked your suburb, consider its micro-location and ask yourself, is this block of land on a street you prefer? Where are the nearest shops, public transportation routes and schools?
You have the right team
You’ll want to ensure you get the right team around you, including an independent financial planner, taxation accountant and lawyer whose advice and experience can be invaluable on your property development journey. Everyone’s circumstances are different, so to create a strategy that will suit you get a good team of professionals around you from the start.
You’re ready to partner with a unit development specialist.
So you’ve done all your research, you’ve consulted your team of professionals and made a number of property developer friends – what do you do now? If you’re ready to develop your block, consider speaking to a unit development specialist like Summit Projects. With close to 40 years of experience and over $650 million of successful unit developments, Summit Projects prides itself on delivering excellence in home design, construction and customer service.
So if you’re powered with the knowledge and passion to get the ball rolling on starting your own Perth property development, come and speak to the experts at Summit Projects, who can assist with turning your property development dreams into reality.
Disclaimer: The information within this article is general information only and it does not constitute advice or recommendation. It does not take into account your financial situation, investment objectives or personal circumstances. Before making a decision about developing your property, you should seek independent financial, legal and taxation advice.