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The Rules of Property Development
In this episode of the Property Mastermind Podcast, Hilary Saxton and Bob Andersen discuss the key rules of property development. They explore the principles that lead to successful projects, the common mistakes to avoid, and the mindset needed to navigate the process effectively.
Whether you’re new to property development or looking to refine your approach, this episode provides practical insights into making informed decisions.
Episode summary
Hilary and Bob begin by discussing how rules create structure and improve outcomes in property development. They compare property development to other areas of life where following a clear set of guidelines leads to better results. They highlight the importance of being true to yourself—ensuring property development aligns with your long-term goals and interests.
They also cover key relationship-building principles, including treating investors, consultants, and contractors with respect. The conversation explores the importance of taking responsibility for your projects, being proactive with problem-solving, and maintaining open communication, particularly when dealing with delays or challenges.
Other essential topics include the value of continuous learning, adapting to market changes, and embracing new technologies. Hilary and Bob emphasise the importance of maintaining a balanced lifestyle, looking after mental and physical health, and setting realistic goals to stay motivated and on track.
Highlights
- Bob’s tip of the week [01:36]
- Life Rules and Property Development[02:34]
- Rule 1: Be True to Yourself [04:54]
- Rule 2: Treat People with Respect [10:30]
- Handling Difficult Situations with Builders [15:32]
- Rule 3: Take Responsibility [20:46]
- Rule 4: Pursue Continuous Learning and Growth [25:38]
- Keeping Up with Market Trends and Finance [29:12]
- Rule 5: Maintain Balance in Your Life [30:19]
- Rule 6: Embrace Change and Adaptability [31:09]
- Rule 7: Build and Maintain Healthy Relationships [34:11]
- Rule 8: Take Care of Your Health [36:21]
- Rule 9: Giving Back to the Community [37:35]
- Rule 10: Setting Realistic Goals [38:08]
- Conclusion [39:13]