Tell us your thoughts on this.

Retaining will kill a lot of deals.

I know pretty experienced developers that have got caught on this as well.

I've just applied their normal subdivision rate number to their feasibility and retaining can be very, very expensive.

And sometimes you physically can't retain it, the blocks.

We've got one at the moment.

We just said to the engineer, let's try and bench this side.

I've learned this thing that there's impervious, hard stand impervious is a word apparently and it means that the when it rains the water can't go through concrete and then it goes the storm water actually goes out and it goes could go out to your neighbor's yard so that's why you know you got to have a look at with your development site where there's going to be grass where the water can just sink down naturally but if you're going to put concrete all over it for Truck parking, for example, that water won't go straight down anymore and it's going to go out somewhere else into your neighbour's yard or the council drains.

Is this just a natural evolution of selling so many other sites and seeing other developers maybe making money by building? Or is it more an evolution where you actually want to build and hold for yourself some of the stock?

uh to be honest once again i'm pretty unemotional about development it was just it just worked it was one of those projects where uh it was a one acre site medium density on the gold coast we bought it really well just over a million dollars for the site which is pretty cheap had a bit of slope on it so scared off a few buyers uh but once again we've got 34 one bettors we're taking a delivering an affordable product.

And like I said earlier, it's got a yield that works for investors as well.

So we're moving that all through channels.

So we're paying basically double the comms.

You'd pay a normal agent.

But they sell it all off market and move it through their investor channels and it's quite easy process.

So have you got any stories in that regard, Carson, that you've heard of?

Do you have another client success story that they may have just got under contract? Just one more before we get on to the podcast? Actually,

Sam that just joined us now, his first couple of deals were great little projects.

He was a project manager.

He's a very, very switched on young man, but he still was just lacking that confidence to kind of pull the trigger on the deal.

I think plus he wanted to use a third party investor to fund the projects.

So he once again found a couple within our group to fund the project and he did a little 10 townhouse project in Victoria, in Melbourne.

And they got another one in regional Victoria, which is a little five-lot subdivision.

the deal makes sense?

When you talk on finding deals, and that's obviously one of your skill sets now, on the Gold Coast, what do you think separates you to say your everyday person? What does Carson, you think, see that the everyday developer looking for what you're looking for sees?

Issues.

And I think we've niched.

Probably it was a little bit naive, that first site in Springbrook.

I had to clear some trees which happened to be in a heritage-listed rainforest.

You're crazy.

But if you've got a title, you're allowed to put a house on it.

Well, what's your little toolkit at the moment? Definitely

Is that true or have you bought some

sites? No, I've bought multiple sites actually.

So the first two that we bought, a three-lotter and four-lotter in Wurundjeri, on San Fernando Drive on the Gold Coast were both DA approved which was great for my early learnings because once again I didn't know what a DA was let alone the whole process.

So it kind of helped de-risk it and it was only just enough margin in it.

It was a very flat market when APRA was doing its thing and it was 2017 when we bought that site.

with a joint venture party.

And it made sense, but it had a lot of issues.

Tell us about it because I love this.