In the high-stakes field of property investing, there are countless details with the potential to make or break a deal. This was proven yet again in a recent search.
Our client wanted an add-value development block for maximum growth, and our search process revealed several exceptional prospects in the greater Perth area.
One in particular stood out – a gorgeous house on a huge block in an up-and-coming suburb, which was advertised with development potential and very competitively priced.
It seemed to fit the bill perfectly, so we moved fast with an inspection, meeting with the agent, and commencement of due diligence.
Unfortunately, this due diligence revealed a huge easement running through the majority of the block.
The area was earmarked for a major power line, which meant the apparent “development potential” was unlikely to get council approval, despite the area’s R30 coding. We quickly abandoned our investigations into the property and moved on to more favourable targets.
“As is often the case, the value in engaging a professional is sometimes in what they say ‘no’ to rather than what they say ‘yes’ to,” Raymond Pecotic of Empire Financial Group commented at the time.
A few weeks later we were able to say “yes” to a far stronger investment option that ticked all our boxes, giving our client excellent rental returns in the short term and a straightforward add-value development in the future.
If you have an interest in building your wealth through property, then call us on (08) 9381-7450, or request a FREE Starter Pack.