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Property development is a complex process that requires careful consideration of a variety of factors. Many people assume that the most important factor in property development is the cost of the property itself, but in reality, there is much more to it than that. Property development is, in fact, all about numbers.
When it comes to property development, numbers play an integral role in the entire process. From the initial feasibility analysis to the final sale of the property, numbers are the key to success. The feasibility analysis is the first step in the property development process, and it is essential to ensure that the project is financially viable. This involves assessing the costs associated with the project, such as the cost of the land, the cost of construction, and the cost of marketing the property. It also involves forecasting the potential income from the project, such as the expected sale price of the property or the expected rental income.
In this week’s episode we talk about property development feasibilities. We dive into what GRV stands for, the importance of start-up costs and proper calculations and why understanding the numbers is important. So if you are still trying to get the numbers right, you won’t want to miss this week’s episode!
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For more information about our investment opportunity, email: admin@propertymastermind.com.au
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Episode Highlights:
- Property development is all about numbers [03:46]
- Know GRV before construction [11:05]
- Do your homework on GRV [13:00]
- Do your due diligence [18:41]
- Build times longer, interest up [26:00]
- Get the numbers right [31:25]
