Episode Details

Introduction

Hilary:
Welcome to Episode 203 of the Property Mastermind Podcast with Hilary Saxton and…

Bob:
Bob Andersen.

Hilary:
This week we’re diving into how to spot development opportunities that others often walk right past. With finance tight and construction costs high, a lot of people are missing great sites that need a different lens to uncover their true potential.

Bob:
A few of our students have done this really well recently. They’ve picked up sites others dismissed and turned them into strong projects.

Hilary:
We’ll share a few success stories and show how a creative approach—or even just doing your homework—can uncover deals that stack up. And we’ll wrap up with a practical tip you can action today.

Seeing What Others Miss

Hilary:
There’s always a bottleneck in development—whether it’s finance, builder availability, or council delays. Right now, it’s site scarcity. That’s why we’re focusing today on spotting deals that others overlook.

Bob:
I remember a project years ago. It sat on the market too long and went stale. The price was too high initially, but the owner wanted to keep a couple of units. So we structured a stock-back joint venture—we bought the site, he got two finished townhouses at cost, and we sold the rest.

Hilary:
It’s a great reminder that creativity can make a deal work when price alone doesn’t.

Student Example: Pushing Council Limits

Hilary:
Let’s talk about Tom—he’s one of our current mentoring students. He recently got approval for a 1-into-3 subdivision where council had only previously allowed 1-into-2. He copped a few objections but stayed focused.

Bob:
The objections weren’t valid on planning grounds, and council acknowledged the housing shortage. It’s great to see smart persistence pay off.

Hilary:
And if it had only been approved as a 1-into-2, it still would have stacked up with a 20% margin. That’s solid risk planning.

Strategy: Renovate the Front, Develop the Back

Hilary:
Another way to make a deal work is using a renovation strategy. You keep the house at the front, renovate it, sell it, and develop the back. Our intro course includes reno training for this reason.

Bob:
One student years ago couldn’t fit a driveway on one side of a house. They bought 600mm of land from the neighbour and made the whole project viable. Just shifting a boundary opened up the whole deal.

Creative Structuring: Overpriced Sites

Bob:
Sometimes landowners want too much and won’t budge. But if they’re open to a joint venture, you can often structure a deal where they get more through profit share than they ever would via sale.

Hilary:
And terms matter too. Bob once bought a block for a million dollars—a bit over value—but got a 10-month settlement and secured permits during that time. It saved big on interest.

Student Highlight: Marina’s Second Deal

Hilary:
Marina’s already working on her second deal mid-mentoring. She’s negotiating a joint venture with a landowner, and she’s able to do it confidently because she’s done the work, asked questions, and learned how to have the right conversations.

Bob:
It’s confidence backed by knowledge—and that makes all the difference when structuring a creative deal.

Developer Example: Buying Off-Plan Industrial Sites

Bob:
We’re doing two industrial projects now—one with 16 units, another with 24. We bought off the plan in an industrial subdivision and locked in contracts before construction began. The settlement won’t happen until titles are issued, giving us time to get approvals.

Hilary:
And we only got one of the sites because a developer had to let go of it—and we had the relationship with the agent. Don’t walk past relationships. That’s part of spotting opportunity too.

Be Ready to Move

Hilary:
Whether it’s a market change, a vendor who’s had enough, or a quick flip, the key is knowing your patch. One student recently secured a deal because he went unconditional, while another offer fell over due to conditions.

Bob:
Speed matters. And you can only act fast if you understand values, zoning, and feasibility in your chosen area.

Mini Challenge

Hilary:
So what can listeners do today? Bob, what’s the best tip?

Bob:
Understand what you can afford to do. Then choose your patch. Then decide what product you’re doing. All three are connected—and they give you the clarity to act.

Hilary:
I dare you to spend 30 minutes tonight on realestate.com.au looking at your patch. Get familiar with what’s listed, what’s sold, and what stacks up.

Wrap-Up

Hilary:
To everyone listening, don’t be the person who walks past the opportunity. Change your lens. When you change your specs, you change what’s next.

Bob:
And if you want to explore property development further, head to propertymastermind.com.au—we’ve got tools, courses, and mentoring to help you get there.

Hilary:
That’s a wrap for Episode 203. We’ll see you next week.

Bob:
Bye for now.