The Holistic Accountant
A holistic accountant goes beyond tax returns, aiming to offer proactive advice to maximise clients' wealth after all taxes. Stuart Wemyss and Mena Abraham explore multifaceted considerations weekly, highlighting the need for a holistic approach. Each episode is succinct and to the point with no fluff or sales pitches. For further details, check out www.prosolution.com.au.
The Holistic Accountant
Making money with small-scale property development: Risks and opportunities
In this episode, Stuart and Mena take a deep dive into the world of small-scale property development, highlighting both the potential rewards and the very real risks involved. Off the back of recent episodes about property spruikers selling uneconomical "development sites," they clarify what genuine small-scale development looks like, who it's suited to, and where it fits into a broader investment strategy.
Mena explains the typical scope of a small-scale project, think two to four dwellings, and outlines the knowledge, financial strength, and risk appetite required to execute one successfully. They discuss how to assess feasibility, the importance of zoning and council regulations, and how to target the right locations. Stuart and Mena also cover common red flags that indicate a project should be avoided entirely.
From financing and structuring to managing construction timelines, servicing loans, and avoiding costly mistakes, the episode offers practical advice for first-time developers. Stuart shares real-world insights on how to balance risk with potential returns, and Mena outlines actionable steps for those curious about getting started.
Whether you're seriously considering a small development or just want to understand the mechanics, this episode offers a grounded, evidence-based view on how to approach small-scale projects the right way.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
