Richard Wright

a licensed estate agent, is also a successful property investor and developer. Richard brings his years of experience in general real estate to his role as a Property Investment Strategist with Metropole. www.metropole.com.au

 Articles by this Author

With the property cycle moving on, many savvy investors are coming back into the property market and some are considering property renovations or redevelopment to boost their profits.

 

But you can’t just buy any property and hope it will make a good investment - not all properties make good investments and even fewer properties make good development sites.

 

A great example of this occurred in the week before Christmas when I bought a great property for Henry and Maree, who live in regional Victoria, even before it reached the open market.

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This month I would like to discuss a property I bought for Glen, that we managed to snare before it even came on the market.

 

While this doesn't happen often, there are some interesting lessons to learn.

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Many of our clients make substantial profits by becoming involved in property development.

 

One trick we used recently for a client whose 2 unit project is almost completed was to add enormous value by changing the property address.

 

Let me explain.....