Brisbane Buyers Agent Development Property Service is a specific part of my business that seeks out properties suitable for development. This is getting harder to achieve with either a lack of good stock or owners asking far too much for a property than what it is worth and this is where you must be careful. We don’t mind paying a small premium for a property that can be split and developed but the work required to develop the property can be very expensive and by the time you have paid a premium for the property then added on another $80,000 or so to complete the development, you might find there is no or very little profit left. Many people get caught out with that these days.
This example is typical of what I try and source, we have 3 very cheap homes here in a row situated in the northern Redcliffe suburbs by the water. These 3 properties are in very bad condition and needed work before we could rent them out but the future is bright for this purchase. Buy purchasing all 3 we saved around $100,000 and the intention is to develop units over the 3 blocks of land in the future. Or the alternative is to simply land bank them and wait 5 to 10 years then sell.