Cam McLellan sits down with his OpenCorp colleague, Matt Lewison, to dissect what the "optimum size and quality property" should look like, and why investors need to be mindful of over-capitalising during the building process.
In this discussion, Cam and Matt touch on:
- A valuable lesson Cam learned early on in his property investing career that carries over to today for OpenCorp clients
- The importance of designing the optimum size and quality property: everyone will be pushing to build a bigger house - draughtsmen, builders, agents - "everyone wants bigger except the investor," says Cam.
- How the money you save when building a new house can contribute to your next investment property
- Median house prices and the science behind property valuation
- The danger of over-capitalising on fixtures and fittings
- Dressing up your property for sale (a real-life example from Matt)
- Doing your homework: assessing an area to ensure you build the right size and quality house
Matt explains how property developers tend to end up selling their worst land for more than their best land, while Cam advises: "Don't be fearful of new builds coming into the area."
This show gets "into the weeds" - lots of helpful and practical tips and insights from two highly experienced investors who have been involved in their fair share of property development projects over the journey.