Tales of Disaster for Property Investors Who Don't Do Their Homework

MELBOURNE, Victoria, July 9, 2019 /PRNewswire-PRWeb/ -- New breakthrough method quickly and accurately predicts the development potential and pitfalls for unsuspecting property developers.

Don't be fooled by the promise of large profits from your property development and guaranteed returns on your investments by slick salespeople who are largely looking out for their own agenda, says one Melbourne property developer expert.

Deddy Tjahjadi, a registered architect, member of the Australian Institute of Architects (AIA), the Property Investors Council of Australia (PICA), the Australian Registration Boards Victorian Chapter (ARBV) and the CEO of the National Property Developers Association (NPDA), says the desire to make money from property development should never come at the expense of safety to the future tenant or owner.

"No one wants to lose money on a development but cutting corners and using inferior products is never a good option," Mr Tjahjadi said.

"I've seen it over the years, from unsuspecting landowners who are 'sold' on developing multi-unit complexes on blocks of land that will never be approved by council, to finished buildings that are unsafe to live in."

"We read the headlines both here and overseas of multi tenanted buildings that can become death traps for those that reside there forcing everyone to evacuate to prevent a tragedy like we witnessed in London."

He said consumers have been lulled over the last decade or so by all the reality TV shows on property development but it's surprising just how often these everyday people get taken advantage of by professionals who over promise and under deliver.

When you consider developments may require many various permits from local council plus the expertise from professionals such as town planners, architects, engineers, drafts people, builders and many specialised trades people, it's little wonder there is scope for the property owner to become confused and lost in the process.

He said what often happens is the property owner is busy, so they place their trust in the professionals to take care of everything for them with the big promise of a highly valued property and large profits.

"But then after some money has changed hands, problems start to arise. Council rejections, re-application fees, further engineering reports, new permits, and the budget starts to blow out because the proposed project was doomed from the start."

"Rather than cut their losses, the property owner is still holding onto their dream for the property even though it is starting to hemorrhage money."

"To counter-balance these 'new' expenses cutbacks are made on the products used or quality of tradespeople, resulting in the completed building not entirely what the owner had in mind," Mr Tjahjadi said.

The biggest reason to get professional advice before you start?

"If you are new to property development or a seasoned veteran that has limited time, you want to make sure that the planned development will be approved by the council from the start and no hidden expenses will arise throughout the process," he says.

Which is why when you are ready to develop your property, you should talk to an expert first.

Better still, run your project through the National Property Developers Association's new breakthrough "Instant Prosperity Analyser Method (IPAM)" that can take you through a systemized process to determine your options, the pitfalls and opportunities available to you.

The National Property Developers Association is a Melbourne based architectural and property development company.
To find out more and schedule an interview, call Deddy Tjahjadi on 0408 847 655 or email [email protected].

SOURCE National Property Developers Association