How To Choose The Correct Site For Development: Part 1/4
When building a new build property how do you choose the correct site development to ensure a good price in a great area?
Hey guys, Ryan here from onproperty.com.au, helping you find positive cash flow property. This is a start of a 4-part video series on how to build a property. I have with me my buyer’s agent of choice, Ben Everingham.
Ryan: Hey, Ben, how’s it going?
Ben: Hey, Ryan, how are you? Hey guys, how are you going?
Ryan: Ben has huge experience in the property industry. And specifically, in the new-build industry building new properties. So we’re going to get his expertise on this issue. In this video, we’re going to talking about how to choose the correct site for development. So, Ben, why don’t you just give people a bit of an outline of why do you know so much about new-build properties?
Ben: Sure. So, in another lifetime, before I started my business Pumped on Property, I was the marketing manager for a company that in the final year that I was there did about a billion dollars in business, in terms of new build. So, we had a 150 odd franchises globally and were turning over about 3,000-3,500 homes per year. That was kind of a foundation for me and then from there and from building the experience with those guys, and also personally building 3 or 4 proper over the last 18-month period, I suppose all that knowledge is compounded.
Ryan: Okay. So you were the head marketing of a company that built thousands of properties, but you’ve also built some yourself. Talk me through what kind of properties have you built yourself and what was the strategy there?
Ben: Sure. So, I built a number of properties. The first property that I built was a dual occupancy property in the North side of Brisbane. For those of you who haven’t heard about dual occupancy before, it’s basically, I built a 3-bedroom, 2-bathroom home on one side and a 1-bedroom, 1-bathroom home out the back. That was a good little product which ended up giving me about a 7.5% yield.
The second property I built was my own home on the Sunshine Coast, which is basically near the [inaudible 2:00] Hospital that’s being built up here at the moment and that’s a 4-bedroom, 2-bathroom, 2-garage home in a really nice little area. And then outside of that, I’ve also built a couple of little spec homes which I’ve sort of built and sold and moving into building duplexes now as well.
Ryan: Okay, cool. So you’ve got a lot of experience. I think the first thing, when you’re looking to build a property is actually choosing where to build it and what type of property to build. So talk me through the steps that someone would need to take if they wanted to go ahead and build a new property.
Ben: Yes. I think there’s probably 5 key steps. The first step is really about selecting the right market. The second step’s about selecting the right suburb in that marketplace. Then, selecting the right development in that suburb as well. Post that, it’s really identifying the right block in the estate and then, also, choosing the right product to fit on that block.
So, if we break those up, sort of that first one. In terms of selecting the right marketplace, most people just skip to moving straight into the piece of land that they want. But, in reality, we’re investors and we need to know that the marketplace that we’re buying in is the right one in terms of potential for future growth. And the future growth, the two easiest predictors is either population growth or employment growth.
Ryan: Okay. So, let’s go deep into choosing the right market. Because I think, as you said, people just tend to skip over this. They go straight into, “I went to visit a new-build estate and there’s a block of land there and it’s X-amount of dollars.” or they’re driving on the highway and they see this ad for house and land packages for $450,000 and they just go straight in.
They go straight to the last step like, “What design do I want?” And they kind of skip everything else. So, for looking at a market, we’re talking about investors, more so than home owners at the moment, what sort of things do we look for in a market? Like, you said population growth. You said employment growth. How do we find out that sort of stuff and how do we know the market’s going to be a good market or if it’s not?
Ben: You’ve absolutely nailed it on the head. I think I bought my first couple of properties without doing any of this research. Luckily, they’re in Sydney so they performed. But basically, I would do basically a matrix, so, just a table of some key things. I’m happy to actually attach that for you for anyone that’s looking for it, if you like, as part of this video series and send that out to people.
Ryan: We’ll link it out below this video. So, as people are watching this video, they’ll be able to download that directly. So you guys can check below this video to download that.
Ben: So, basically, in a nutshell, I’m looking at population. I’m looking at the demographics in terms of the number of renters, the average household income. I’m looking at the number of schools, the number of shops, the number of train stations and all those key indicators that everyone’s looking for. And then going deeper, I’m really looking at historical growth rates over the last 10 years, growth rates over the last 3 years and over the last 12 months.
I’m looking at things like rental vacancy rates and average days on market and a huge number of other things, which you’ll be able to see in the checklist at the bottom of the video. They give me a complete picture around the market.
From there, I can compare one market versus another market and make a sort of simple decision. In terms of based on the numbers and the data, what’s going to perform best over the long term and that will be the place that I’ll invest in.
Ryan: Okay. So, you would say to people as they go through this checklist, don’t just do it on one property in one area in one market, but do it on multiple different markets so then you can compare the markets to each other. Because, I’m guessing, if you just look at one market and someone goes through all these figures, they’re not going to know what each of the figures mean. But if they compare two suburbs to each other, then they can see that one suburb has grown so much more in the last 3 years or one suburb’s declining in the last 12 months. Then they can get an idea of, “Okay, well, how does one suburb compare to another?”
Ben: 100% Exactly that. In reality, a great example of this is one suburb might have a rental vacancy rate of 2.5%, which is high. While another suburb might have a rental vacancy rate of under 1%, which means if I’m going to select the second suburb, there’s a better chance of my property being rented out at the completion of construction, which as an investor, improves my cash flow and position, which is important to me.
Ryan: And I guess you don’t want to be investing in an area that has a huge vacancy rate because that could indicate there’s too much development in that area and there’s not enough renters, which means as the new developments continue to go on, that could stagnate your growth. Is that correct?
Ben: Absolutely, absolutely.
Ryan: Okay. So, that’s cool. So people can check out that checklist. When we’re talking “market”, are we talking like, Sydney as a market or Central Coast or Sunshine Coast or are we talking suburbs in particular?
Ben: No. Definitely, a market would be Sydney and then Sydney could be broken up into North, South, East and West, same with any other market in Australia. Like another market might be Sunshine Coast. But within that, I suppose there’s 2 or 3 pockets that as you begin to know an area, you begin to identify.
Ryan: Okay. So once someone kind of identifies maybe they want to invest in Sydney or Melbourne or Sunshine Coast. How do they then break it down to a suburb perspective and begin looking at that?
Ben: Beautiful. So, it’s pretty much rinsing and repeating this exact strategy again. So you’ve compared Sunshine Coast versus Brisbane versus Gold Coast. Or, Sydney versus Wollongong version New Castle. And now, you’ve identified that Wollongong is the market that you want to target. From that, you’ll begin doing the exact same research using the same checklist and going, I’m going to compare, for example, Corrimal versus North Wollongong. Or, in Queensland, I’m going to compare suburb X versus suburb Y. Really, it doesn’t matter.
Ryan: Yeah. I live on the Gold Coast. So, you could compare Robina to Mugeeraba to Elanora to Palm Beach to Burleigh. So, basically, going through the same checklist, but rather than looking at the whole area of the Gold Coast, you’d be looking at separate suburbs and you would then kind of compare the suburbs to each other in the same way that we did for the market. Is that right?
Ben: Exactly. And you’re really looking for those suburbs that have potential for future growth. So, strong numbers that support growth in that suburb, like we discussed before.
Ryan: Yeah. So, one thing that I think a lot of people hear about is to look for infrastructure growth in the area or the government investing millions or billions of dollars into the area. How can someone identify those sort of characteristics? Because that’s not going to come up in the sort of research that we’ve been talking about.
Ben: Yeah. So, pretty much the easiest way would be to just literally google “infrastructure projects + Gold Coast”. Or, to look at any sort of magazine like, Your Investment Property or Australian Property Investor and look at the marketplace. They’re always talking about what’s coming up. From what I heard from a really good research analyst recently, Michael Matusik, was that infrastructure isn’t a precursor for growth. The precursor for growth is the fact that employment in the area is increased as a result of the infrastructure projects. So, you’ve just got to remember that just because infrastructure’s coming doesn’t mean that a Chinese company isn’t bringing all offshore workers to actually come and do that and it’s not going to change the market too much.
Ryan: Yeah. I guess people need to understand that the analysis that we’re doing is speculative analysis. So, you can’t just go through this research and put it in a computer and it just says, “Yes. You have to invest in this area.” There is a bit of intuition or high-level intelligence that you need to use to analyze this and to kind of predict forward and think, “Okay, this infrastructure’s coming. How is that going to affect employment? How is it going to affect population growth?” And that sort of stuff.
So you can’t just say, infrastructure of $3-billion is being invested here. Therefore, we’re going to get X-amount of growth. You really need to look at so many different things. I guess that’s why it’s so hard for people to choose a market and to choose a suburb and why most people just don’t do it, because it’s just too hard for so many people. Would you agree?
Ben: Yeah, absolutely. I suppose, as you said, you’ve got to – a great question to ask and a simple one after you’ve got that data, because the data only tells half the story, is to go, “Could I see myself living in this suburb now and in 10 years’ time?” And who is living in the suburb now and who’s going to be living there in 10 years’ time? And begin to put yourself in that context where you’re not emotionally attached but you can get a sense for who’s there and how that fits into the bigger picture.
Ryan: I guess I can definitely see that. Like, in areas on the Gold Coast, you see certain areas with a lower socio-demographic. I know there’s a place called Nobby Beach and you drive through there and there’s a lot of really old houses, but then there’s ones that are really expensive and really nicely done. The same is happening in Palm Beach. So, if you kind of think forward, you can think, “Okay. Richer people are going to be living in this area in 10 years’ time, which is probably going to lead to growth.”
Okay, so, let’s talk about development. Because this isn’t something that I really know much about. When you’re building a new-build property, is it generally – like, you just find a block of land that someone’s selling, an average Joe like you or me, and you try and build on there? What are these big development sites and can we go through really basic how does this sort of stuff happen and then how do we choose a development site?
Ben: Sure. So, yeah, that’s a really good point actually, Ryan. Like, there’s, I suppose, 2 major types of developments. And that’s you or I have an existing suburb. For example, like in Nobby Beach where there’s no vacant land available. Somebody comes in and maybe we cut the block in half. I build on one side and keep it and I sell the other piece of land to a mum and dad that’s looking to build into there. Generally, those in-fill sites, or those knock down rebuild sites, are more expensive. Because they are in areas that have existing infrastructure and sales history that people can go off. Where the other site is what they call the greenfield sites in the industry.
That’s literally where you’ll drive past an area and there’s anywhere between 30 to 2,000 or tens of thousands of houses going up. A really good example would be somewhere like Western Sydney or Ballarat in Victoria or sort of the North site of Brisbane up near North Lakes there.
Ryan: Even in the Gold Coast, the Northwestern part of the Gold Coast has a lot of greenfield sites up there that are being built out. How do these greenfield sites come about? Who owns all of this land and how do they convert it into these development projects?
Ben: That’s a really good point.
Ryan: I guess if we knew that, we’d be millionaires and probably be doing it, would we?
Ben: The developers obviously know people. Basically, there’s a person that sits inside every development company whose job is just constantly land acquisition. So that’ll be, you know, talking to their mate, is talking to their network. They’ll be physically ringing up and going and door-knocking farmers. Generally, farmers own these large tracts of land or wealthy individuals that have bought them 30 years ago that are holding them now. And they will just go and buy small pieces of that land.
Only once they know that there’s demand for that land in that marketplace and they actually think they can sell it because there’s no point buying, holding and not being able to move anything from their business’ model perspective either.
Ryan: Yeah. Okay. If someone’s looking at if there’s multiple of these greenfield sites in an area, how can someone look at the different greenfield development projects and decide which one’s are going to be good, which ones aren’t so good?
Ben: That’s another really good question. So, there’s developers in Australia, for example, Mirvac, AVJennings and Stockland that are known for creating a more premium product. Which means rather than just bringing a piece of land into an area with a street or maybe a path down one side of the street, they’re building parks.
They’re creating communities that people actually want to live in and want to spend time in the future. Not based on principles of planning from 30 years ago, but principles of planning for the future, so creating connected communities that actually make sense. And then there’s developers that just bring on cheap product to marketplace, they’d do that nationally. And then there’s also the boutique guy that will have a crack at bringing on a 30 or 100 or 200 lots over a 10-year period into an area.
Generally, you’re paying a premium for the premium product, like the better developers. And then you can get access to some of that cheaper stuff through those boutique developers as well.
Ryan: Okay. So there’s different types of development sites. Do we need to get the plans for the development site and try to analyze, is this going to be a good community to live in or what can someone do to really say, “Okay, is this a good site? Is this just cheap product? Is there something that’s better? Like, is it better to buy a cheap product as an investor or is it better to pay the premium to get into Stockland community feel?
Ben: I suppose, in terms of paying for premium product, like I’ve obviously recently paid for a premium product, that product’s enabled us to make over 6 figures in an 18-month period in terms of capital growth on what we spent on the property. And that’s because the premium product – the developers normally know how to drip-feed that into the marketplace to keep the price high. So, they’re masters of marketing and sales and they know how to keep the prices and the valuations up in an area.
I suppose it really depends on what you’re looking for. Generally, a premium product will be brought to market in a premium area. So, beach-side, close to major infrastructure, close to major cities. Where a sub-premium product, like Stockland or a Mirvac is not going to move into an area that they can’t see long term demand. And so, that’s where you’ll find your cheapest stuff.
I suppose when you’re finding your cheaper stuff, you’re sacrificing long term capital growth for short term cash flow. And so, as an investor, you’ve got to make a decision, is my strategy getting $200 a week from positively-geared place today or is it about making $20,000 or $30,000 a year in capital growth for the rest of my lifetime? That all depends on your strategy.
Ryan: Definitely, I’m taking from this that if I’m – because I haven’t built a property before. So, I’m kind of coming into this new. So, if I was to look at a development from what we’ve talked about, I would be looking at the developer’s plans for the entire area and looking at drawings or looking at, “Okay, where are the parks? What is it about this community that is going to be desirable? What’s going to make someone live here, apart from the fact that it’s already in a location that these people that want to live? So, what’s going to make this nicer than the surrounding area that people will want to move here rather than live in the surrounding suburbs?”
Am I kind of on the right track? Am I missing something?
Ben: No, that’s exactly it. The easiest way, I suppose, to bypass all of that stuff – because most people aren’t going to be able to look at a community plan and go, “That looks amazing in 20 years’ time from now.” – is to walk into sales office.
If the sales office is beautiful and the developers put time into creating something special and has a good sales person that’s prepared to sit down with you and walk you through the entire project in terms of where they are, where they’ve been and where they’re going. That immediately tells you that there’s foresight, there’s planning, there’s people being educated. Their job is to sell you a product, but their job is also to educate people on why their product is better than everyone else’s as well.
Ryan: Okay. So, good sales people who can educate you about the area is kind of an indication that the company has put more thought into the future of this development.
Ben: Absolutely. Yup.
Ryan: Okay. That’s cool. So, we’ve gone through market. We’ve gone through suburbs. We’ve gone through looking at a development site. The next thing to do is to choose your plot of land in that development site. What sort of things should people be looking for there?
Ben: Yeah. So, personally, the more premium pieces of land. Because in every development, there’s the cheap stuff that gets left last, like the odd-looking blocks, the weird-shaped blocks.
Ryan: The really steep hill or something?
Ben: The really steep hills. The place that needs cut and fill or retaining. The expensive blocks to develop on.
The blocks with the weird soil or the strange drainage. And then there’s the more premium blocks that are just flat, simple to build on, in the good street. Again, in every development, there’s going to be almost like arteries in the body, a main artery or main road and then roads going out. I’m personally always looking for the quieter pockets of the development that aren’t going to get the traffic.
You know, closest – if there’s parks in the development, close to the parks. If there’s water in the development, close to the water. If it’s close to the beach, as close to the beach as possible. All of those things, over time, just stack up the value and the way that potential valuers or people that are going to buy the property from you look at that property.
Ryan: I guess people need to think, again, looking at we’re saying what’s the community going to be like in 10 or 20 years’ time. If all of these properties are being built at the same time and they’re all kind of similar, to have a block that’s in a quieter street or closer to one of the landmarks, like a park or the beach or a waterway or something like that. I guess people gravitate towards that, more so than one of the cheaper blocks that’s on the main road, on the corner that’s getting double traffic.
Ben: Exactly. So, you’ve just nailed it on the head. There’s things to look for. Like slightly wider frontages than the average. Because that gives people the illusion that it’s a bigger block. If the average block size in the estate’s 400 meters, maybe look at something that’s 450 meters square. If the average product in the marketplace is this, you just want to be just slightly better than the average. Because that’s memorable when people start coming through and having a look.
Ryan: Yeah. The thing I think people need to think about is when they’re choosing a block; they are going to be competing against these other houses. They’re going to be competing for renters. They’re going to be competing for sales. Because the chance is that when they go in the market and they want to sell or they want to rent, there’s going to be other properties in the area that are for sale or for rent at the same time. So, by having something that’s just a little bit better than the rest kind of gives you a better chance to get renters and to get a better sale price. Is that correct?
Ben: Yup. Absolutely. I think most people have walked through a display village. And if you haven’t, I definitely recommend just finding your local display village where the project builders will go in and build their spec homes. You’ll know after you walk through 10 houses in a display village that one or two of those houses stand out because they’re just so much better. That’s the sort of feeling that you want to create while you’re building your product as well. Even if it’s an investor-level product, you know, simple things.
Ryan: I guess the question people are probably asking at this point in the interview is, “What sort of premium should I pay to get a block that’s slightly wider or slightly closer to the beach or just slightly better than everything else or slightly quieter?” Is there any guidelines that people should have if they think about, “How much should I pay for these blocks?” Or, is it just whatever the developer sets?
Ben: Often, these blocks aren’t a premium when the land is first released. So, the way to get a premium may not be paying more money. It might be physically talking to the developer knowing that it’s coming out and registering your interest and paying a deposit before the land becomes available.
Ryan: Okay. Let’s talk about this. I don’t know what this means. I’ve never heard of registering interest and paying a deposit before there’s even land.
Ben: Sure. Basically, the way that developers work in Australia is they’ve got a piece of land that they’re going to build 1,000 houses on over the next 5 years, but they only release 15 or 20 of those blocks at a time to keep market demand high and a feeling of scarcity.
Ryan: Yeah. Because they don’t want to flood the market with 1,000 properties and then everyone just has too much choice and there’s properties they can’t sell.
Ben: Exactly. So, that’s what a good developer won’t do. And so, I suppose, what we’re sort of really eluding to here is that pre-registration or pre-that block physically being available for you to build on – a good developer’s going to have plan of the next 20 or 30 lots that are coming up.
It’s at that time that you really want to go and sit down with them. Build a basic relationship and say, if there’s a street and it’s got 10 houses on this side and 10 houses on this side, on both ends of the street are main roads, and the blocks vary in size, I want to go strategically pick those couple of blocks in the middle that represent better quality buying because they’re insulated from the main roads. They’re flat; they’re easy to build on. They’re not corners blocks and all those things we talked about before that.
Ryan: Okay. So can you register your interest and say, “I want to invest in this block.” or you just say like, “one of these three or four.” What do you do?
Ben: Generally, if there’s a huge amount of demand, you’ll say, “I want one of three or four blocks.” and you just put your name down on everything. And then the developer, when they’re ready to start signing people up, will come back to you and you generally get one of those blocks. In some areas like Western Sydney, I’ve heard of people physically camping out at the moment for 2 nights to get a piece of land, because the demand is so high. But in most areas, you should be able to build a relationship over the couple of months before the land is released and secure one of those lots for yourself without too many dramas.
Ryan: I think it’s important for people to realise that this isn’t internet shopping when we’re choosing a parcel of land. There is an element of working with sales people and building a relationship with people so that you’re easy to deal with. So when the sales representative says, “Well, I’ve got to start selling and I’ve got to start calling people.” If they know this person is easy to deal with, I have a good relationship with them. I know they’ve got the money.
I’m going to call them first and give them the first option because I know it’s going to be a simple sale. So there is kind of some personal relationship work that needs to go into that that people need to think about. Because a lot of the times, I think people are just looking at this on the internet and they think, “Okay, I want to buy a block of land. Here’s a block of land, I’ll buy it.” But to actually take the time and invest into the relationship sounds like it’s going to pay off.
How would I find out what blocks of land are about to be released or that I can put my interest on? How do I discover that sort of stuff?
Ben: After you’ve identified the market, the suburb and then the development in that suburb that you want to target, it’s literally ring up any developer sales person. Have a conversation with them and they’ll send you a price list on what coming up next along with a plan for the estate and where those blocks fit into that plan. It’s at that time that you begin to get your head around it. And then, obviously, put your expression of interest on to those blocks.
An expression of interest is normally just a one-page form with $1,000 deposit and that will hold that piece of land for you until the land is registered and you can actually go through the process of purchasing the land through a formal contract.
Ryan: Okay. That’s cool. Alright. So, choosing a site – I think we’ve given people a good idea. Probably avoid the cheap blocks that are super hilly or on the main road, because you might not get as much growth in those. And look for the blocks that are a slight premium. In order to avoid paying more for those blocks, submit your interest early. Select a few ahead of time. And then try and be on the ball as soon as they become available. Hopefully, you built that relationship so that you get an option to purchase one of those blocks.
Last thing that we wanted to talk about was the design of the property that you’re building. Talk us through this. What should we be looking to do?
Ben: I suppose it’s just simple design features that make a place feel more like a home that are unconscious to us as people. A really good example of this is if you can find a North-facing block, a North-facing block is going to be cooler in summer. It’s going to be warmer in winter. It’s going to physically look nice in terms of the way that the sun tracks from East to West or West to East, depending on where you are type thing. That’s a meaningful thing.
Ryan: When is the sun going to track from West to East?
Ben: Let’s edit that out. Can you cut that?
Ryan: No. That’s staying in, for sure, man.
Ben: From East to West.
Ryan: Okay. When North-facing, is that you want your house to face North on to the street? So your backyard would be a south-facing backyard? Or is it the other way around? I always get confused.
Ben: It’s the other way around. So, you want your backyard to be facing North. The reason being, that’s the place where you normally gravitate to. With the new styles of housing now, with the open plane at the back of the home through the kitchen and the living area, opening up on to some sort of al fresco. That’s a really nice place. From a sun perspective, it’s going to mean that it’s not too hot, not too cold and there’s sun almost all day for you.
Ryan: Yup. Okay. So, North-facing. What else do people need to look for in the design of the property? Should they build a premium product? Should they build the cheapest? Should they go in the middle? What do you think?
Ben: It’s about understanding where the middle is in an area. If the average products are 4-bedroom, 2-bathroom, 2-garage home and that’s what the market is asking for in that area, then it’s about finding out. Because in every development there’s what they call a “building envelope” and that’s – if you’ve got a 400-sqm piece of land, the developer might say that you can only physically build on 65% of that 400-sqm.
So, it’s about building the right size house and using that 65 sqm in the best possible way to create a property that functions, I suppose, from the front door to the back door architecturally and functionally. And then simple things, I suppose. After you go through the design, just making the bedrooms a minimum of 3 meters by 3 meters. Like things we’ve talked about on other videos before, like higher ceilings, stone bench tops, you know, larger tiles. Maybe some rendering or multiple finishes on the external of the construction. Like making sure that the design works and flows from a living perspective as opposed to just looking pretty on paper and signing off on the first thing that the builder gives you.
Ryan: So, how do people know – like if they’re going to a new-build area, how do they know what the average is and to build slightly above average?
Ben: A great place to start is just asking the guy that’s selling the land. What sort of product that they think is going to be built in that area? And what the builders are talking about building and what other clients are talking about building. Because the funny thing is, most people take their designs in to the guy that owns the land and go, “What do you think about this for this suburb and for this area?” And that will give you a really honest feedback.
They might see 20 or 30 different designs every month and they’ll be able to give you some really good insight. Also, going and talking to the local builders and finding what’s getting a premium and the local real estate agents and finding what people in the local community really want. What features are important to them and how does that reflect in terms of re-sale or re-valuations in the future.
Ryan: Yeah. I think one of the biggest mistakes that people make is that they do over-capitalize. So they build something that’s too good for the block that they’re on. Or, they under-capitalize and they build something that’s not good enough for the area that they’re in. I think people want to avoid that. And what you’ve just said is a great way to avoid that.
In the next video, we’re going to be going through some of the biggest mistakes people do make when they build a property. Things that cause them to overpay for the property or things that cause their property to be not as desirable or not grow as much. We definitely want to cover off all of those mistakes for you guys and share those with you so you can actually avoid them yourself.
We don’t want you guys to go out there and to understand – even going through these research steps, you’re going to avoid some of those mistakes. But in the next video, we’re going to be talking about, okay, well, what are specifically the big things that people do wrong and how can you avoid that? I think that video is going to be really important for people to understand. Because, just like me, I don’t understand this industry if I was to buy a new-build a property, I really wouldn’t know a whole lot of what to do. So, to understand what not to do would really help me.
I think a lot of investing is just like risk mitigation. Like, just make sure you’re not making a massive risk and then hopefully, the area will grow. And so, let’s cut it off there for this video. We will see you guys in the next video, video number 2, which is The Biggest Mistakes People Make When Building a Property.
Ben, thank you so much for your insight on this one. Is there any last words that you would say about choosing the right market or site for people?
Ben: No. I think we’ve pretty covered the majority of that. Hopefully, that checklist that Ryan said is going to be in the link at the bottom of this video will help you guys out as well to not make some of the mistakes that I’ve had to make the hard way.
Ryan: Yeah. So, definitely, guys, check out that checklist. Download it, it’s pdf format so you can go ahead and print it out and then you can go through and you can fill it out. It’s just going to give a great structure for researching the market, for researching the suburb and to make sure that you’ve chosen the right suburb before you go ahead and get into the design process or put a deposit down or things like that. So, check that out.
Alright guys, until next time, stay positive.