The Myth Of The Overnight Success
“What’s It Worth To Ya? Tell Him He’s Dreaming…!!”
The premise of The Myths of Innovation by Scott Berkun is that great ideas arrive in perfect form, requiring no further development. But this is unrealistic.
Henry Ford didn’t get it right the first time around when working on his Ford automobiles. His earlier models were mostly smelly, inefficient and prone to stalling. Thankfully, he didn’t give up. He continued developing his cars, eventually perfecting the famous Model T.
How To Find A Site
If you’ve ever watched the classic Australian comedy The Castle, there’s a hilarious scene where the father and son are sitting around the dinner table talking about the value of jousting sticks. It’s a great moral and lesson to be learned, as it shows us that any item has value and it’s likely to be different depending on who you talk to. If you haven’t seen the movie, I highly highly recommend it!
Studies have shown that humans have as much, if not more, enjoyment and fun planning and organising the family holiday than the actual event itself. Isn’t that funny? The anticipation and build up to the event is so great that it can sometimes surpass the actual experience we were planning all along.
Are Land Bankers Wankers?
When I was growing up, I toyed with the idea of becoming a pilot. Flying back then was a much bigger deal than it seems to be these days. It had an aura about it.
In my view, those who cast a disparaging eye on investors who are patiently waiting for the right time to develop and are currently ‘land banking’ the good sites, tend to be the ones who moan and whine about property being a non-productive asset - not delivering any benefits to society. Of this, I could not disagree more.
Have you ever witnessed an orchestra conductor guide and drive a group of over 100 musicians seamlessly to create a well-orchestrated piece of music? I guess that’s where the term orchestrated comes from.
It’s quite simply a work of art to be able to co-ordinate, motivate and time all the moving parts into a moving feast of aural pleasure.
Apart from infants, I don’t think I’ve met anyone who hasn’t eaten at McDonald’s before. That’s a pretty amazing thought when you think of it – how far reaching an organisation is and what it’s achieved.
Where's The Market Headed?
That’s a cool word. What does it mean?
According to Webster’s dictionary it means “the support about which a lever turns”.
Congratulations To Our Clients | Council Cock Ups
Bring up the word property in any conversation and you’ll always get peoples’ ears pricking up!
What’s on most people’s minds and mouths is what’s happening in the market and where are we headed? After all, most people’s wealth is tied up in property.
Almost on cue, a new guru (or old one) is wheeled out to talk the market up or down. We’re either in a boom or a bust. Why? Because papers need to sell and who wants to read about a steady market?
Another month has flown by and we’re delighted for one of our clients who we’ve helped secure consent for them to construct a terraced housing development at the rear of their site and a standout stand-alone dwelling at the front!
Unitary Plan - Up Or Out? Which Is It?
I took a trip to Melbourne to find out why they are a successful city and what Auckland could perhaps learn from their success.
They have an expected population forecast of eight million by 2030, currently it stands around 45 million. It makes Auckland’s projections rather small by comparison, yet it felt like a city that I could get around in comparatively easily.
The development of a city starts with planning. So what’s their secret sauce?
A review of the Unitary Plan has been released, and I’m giving you a sneak peek!
It reflects on the situation (can you believe nearly 2 years since becoming operative?!) and how successful it’s been.
So, what’s been most popular? Has it been to build out (greenfield areas) or up in urban locations (brownfield sites)?
Rules Are Made To Be...
A site is for sale in Mt Albert and it has resource consent for 3 dwellings.
A fantastic established suburb, highly sought-after schools, close to the CBD and the public transport links are improving, especially once the CRL is in, it’ll only be 20 minutes by train from what is currently 40 minutes.
Auckland Unitary Plan's Top 10 Standards To Know About For Residential Development
Some highlights since we last caught up include helping an investor into a site which will deliver 8 terraced units on a relatively standard sized section in the ‘Goldilocks’ zone that we like. We acquired it under CV and it happens to rub shoulders with some rich-listers. No doubt we’ll attract some Nimbyism which I am somewhat infamous for. But hey-ho, Change Must Happen!
Top 6 Infrastructure Risks For Infill Property Development
The Auckland Unitary Plan has paved the way for significantly more land, not least in the inner suburbs where it is most sought after.
The Unitary Plan is made up of rules (or standards as they’re called) which we need to comply with in order to achieve the development outcomes that are prescribed or the objectives set out by Auckland Council.
How do you make sense of the standards? Let’s take a look under the bonnet and see some of the key ones that have an impact on how far you can take your development…
Now that you’ve identified a development site and you’re working through your initial feasibility, are you scratching your head on what the civil costs and implications might be?
It’s frustrating depending on who you speak to and no one seems to want to give you a straight answer and opinions vary wildly.
Dealing With Delays
At the beginning of May, Council notified their intention to raise development contributions by around 30%.
What are Development Contributions?
They're the levy we pay for every additional dwelling we create to help fund infrastructure like roads and drainage.
Currently, this is around $21k and is projected to rise to $27k, and in some cases up to $70k per dwelling in greenfield (outer regions of Auckland) subdivisions.
31 May ... Really?
It’s like being at the airport, waiting to catch your flight, you’ve done everything right and yet you get to check-in, through customs and you’re all ready and set to go. You’re on time and the announcer informs you that the flight’s going to be delayed…
12 Essential Steps To Working Out Your Target Market In Property Development
Cannot believe we are here at the end of May in what has been a lightning quick year so far. I hope it’s been a productive and enjoyable one for you so far. :-)
Auckland Council votes today whether the RFT will come in to play. My money is that yes it will. Without any other alternative, many infrastructure projects will stall. I’m just a dumb developer and no economist, so I want someone to explain to me why infrastructure bonds can’t be explored further. They have worked and continue to work successfully in other countries. Rant over. And don't worry, I won't mention Kiwibuild.
Your site has development potential, it looks relatively easy to build on and the zoning favours you. So what do you actually build? What do you need to know to ensure that it doesn’t go horribly wrong?
We’ve got some of these things wrong in the past and it makes a big difference to do this research first or you’ll pay for it in the long run by either not getting the premium you deserve or things taking longer to sell than you’d like – which ultimately costs your project.