Rank #1: 43 – From henchman to niche property developer (part 1)
He has gone from playing henchman and tough guy, to property developer and master coach, so he has many strings to his bow. I think you will enjoy the conversation that we have.
Before I get to that, here’s what I have been up to lately. I have been responding to the many enquiries that are coming in about the property developer training course that I mentioned in the last show, so thank you to all those people who are keen to know more.
Learning how to develop property
If you are interested in learning how to develop property then drop me an email firstname.lastname@example.org and I can send you some further information.
And just before we move into today’s guest, I would love to do a podcast with someone who has had some tough times as a developer to hear what they learned and what they would do differently, maybe they’ve had troubles finishing projects, or maybe they went bust, hopefully they have bounced back and have some good lessons to share. So if you know of someone who might be willing to be a guest on the show please drop me an email and let me know.
Okay, on to today’s guest, a friend of mine from Sydney, Byron Sakha. Byron has an interesting story to share about how he got into property developing and what he has learnt along the way. Byron started off his developing journey at a big corporate, before branching out on his own. This ended up being quite a long conversation, as there are many interesting sides to Byron’s life, so I have broken it into two parts.
In this part we talk about how attitude can really get you places, the importance of your feasibility and how long term, strategic thinking can help you see things on the way not in the way.
In part two we take a deeper look at how you can be strategic in your planning and thinking.
Lessons for real estate developers
Okay, that’s the end of part 1 of my chat with Byron. I hope you enjoyed it as much as me. I think Byron has quite an interesting take on life and developing. Here are three things that stood out for me from our conversation so far.
1. Attitude can get you places in property development
As Byron said, he got his first opportunity with Multiplex because he was keen and showed great attitude. He didn’t complain about his entry level position and got on with the job. He demonstrated persistence and perseverance and it got him a start. The lesson for me was about being prepared to do whatever it takes to get the job done, and not searching for excuses.
2. Be as clear as possible with pricing in your property development feasibility
Byron raised the very good points about being careful with your numbers to help reduce the provisional sums in your construction contract, maintain control over the scope of works, and being clear about the materials and finishes you want. As he said, being clear on all this at the start will avoid arguments and disagreements later by eliminating the age old problem of assumptions!
3. Long term thinking can help you see things on the way not in the way
This is one of my favourite sayings. Everything happens for a reason, and I find, if I have a big enough vision and a strong purpose, then I don’t let things stop me from pushing forward. Yes I can get frustrated with things taking longer than I want, or not going exactly to plan, but I deal with it and move on, because I have bigger things I want to get done. Anyone that has ever done anything significant, has experienced big challenges along the way, but they pushed ahead regardless.
Alright, that’s my wrap of part 1 of my discussion with Byron Sakha, in the next episode we will finish off the conversation and pick up talking about the power of having a vision,
May 02 2018
Rank #2: 59 – Finding unique ways to develop property
There are many ways to develop property, some straight forward, some very unusual. How about shifting your planning application from units to a boarding house? Or rezoning a street? Or using options to lock up parcels of land? My latest guest has done all this and more, so tune in as we explore the many unique ways that property can be developed.
Davina has certainly taken a different approach to developing property and has cleverly worked a number of different angles in terms of project types and how you make them work. Forget about sticking to one project type and stay with it for a few projects…
Unusual property development projects
I think you will enjoy how Davina isn’t afraid to try new things, how you can pivot if something doesn’t go the way you planned, and how she negotiates her way through challenging situations like securing an option agreement with neighbours.
Keep an ear out for how Davina explains the importance of understanding your limits and risk tolerance, and how you can still achieve results through partnering to mitigate the risk.
Don’t forget if you are interested in learning how to develop property then email me about the property developing mentoring program that is available to help you get started. There’s nothing like a guiding hand to show you the best way when you are starting out, so email Justin@propertydeveloperpodcast.com and I will send you some further information.
Lessons for real estate developers
What an unusual range of projects she has tackled! I enjoyed speaking with Davina and here’s three things I took away from our chat:
1. Don’t be afraid to pivot if things change in the property market.
I thought it was great that Davina was prepared to change her approach when she decided that the market had shifted and units were no longer the right product type, and she pivoted to getting a permit for a boarding house. A completely different project. This shows a willingness to be flexible and adapt to what the market wants.
2. Understand your risk tolerance when it comes to developing property
Davina discussed how she is looking to partner with a more experienced developer to help complete one of her projects because she understands that she doesn’t have the experience to comfortably complete the project. I think it is a wise move to partner up and mitigate the risk. This shows an awareness of your risk tolerance, but is also a clever way to learn how a project is completed but in a safer way.
3.Be prepared to try new things if your project doesn’t stack up anymore
You certainly cannot accuse Davina of sticking to what she knows best! She has been prepared to try new strategies, work the angles and explore different options if Plan A doesn’t work out. It certainly shows that there is more than one way to develop property and lots of opportunities exist out there if you are prepared to go looking for them.
Alright, if you enjoyed that fascinating conversation, then why not delve back into episode 27 of the show [https://propertydeveloperpodcast.com/2017/01/11/27-tales-from-a-canadian-property-developer/], where I spoke with Canadian based developer Dan Borona, about some of the unique challenges he faces developing in Ottawa. Dan also shares how he moved from renovating properties to doing multi unit developments. So tune in to episode 27 of the show.
Don’t forget to catch me on Insta [https://www.instagram.com/property_developer_podcast/] and Facebook [https://www.facebook.com/propertydeveloperpodcast] for all my latest project pics and videos, industry news and other fun tidbits. You can also post a comment on iTunes if you are enjoying the show.
So, until next time, keep your options open for that next sweet property development deal.
May 08 2019
Rank #3: 15 – Zero to $40 million worth of property development projects in five years
Shane is doing multiple joint-venture type projects with investors, and has gone from doing one new home build project, to now having 20 projects underway.
He has learnt a lot about managing partners, setting up joint ventures and the mindset you need to grow a developing business.
Books to help real estate developers
Shane also shares four books that he thinks will help property developers take their business to the next level. They are:
1. Leveraging the Universe - Mike Dooley
2. Power of the Subconscious Mind - Joseph Murphy
3. E-Squared & E-Cubed - both by Pam Grout
4. Scaling Up - Verne Harnish
I think Shane is taking his developing business in a really interesting direction and I’m sure it will be a success. It goes to show how far you can come in 5 or 6 years, if you persist and continue to deliver value for people.
Tips for property developers
I enjoyed my conversation with Shane, and here’s 3 points that stuck out for me:
1. Take the time to expand your mind
I believe it is important that you keep your brain active by continually learning something new. That may be reading a biography, attending a seminar or doing a formal course. It’s a great way to expand your thinking, learn about alternative concepts or just be inspired by what other people have achieved. If you are not improving then you are going backwards, and there is so much awesome stuff to discover in this world.
2. Value your skills, abilities and time
Shane talked about the lesson he is learning about valuing his skills and contribution. This is always good to remember, as you need to set how much you think you are worth, and following from my first point about expanding your mind, the more you learn the more value you will be able to bring to the world, and thus charge for your value accordingly. And this also extends to your time, use it well, and hang around with people that you want to emulate, soar with the eagles not forage with the turkeys.
3. Think about ways to better serve your customers by expanding your services
I like how Shane is looking to grow his business based on his existing customers needs. This horizontal and vertical expansion is a great method of understanding what your clients may need now but also in the future, and helping them achieve it. Have you ever thought about how you might expand your business offering to service your existing clients? It might be worth jotting down some ideas about how you could, you never know what might come up.
You can find out more about Shane via his LinkedIn profile https://au.linkedin.com/in/buyersagentbrisbane or his Facebook page at https://www.facebook.com/Shane-Hiscock-Property-388804914516499/
If you enjoyed the show, an iTunes rating would be awesome, or join me on Instagram at https://www.instagram.com/property_developer_podcast/ as I share my property developer porn pictures!
Until next time, may you squeeze on that extra unit...
Shane Hiscock Property - http://shanehiscockproperty.com.au
Titan by Ron Chernow - http://www.booktopia.com.au/titan-ron-chernow/prod9781400077304.html?source=pla&gclid=CKba5vCdic0CFZAAvAodT54Aow
Justin's Latest Project Pics
Jun 02 2016
Rank #4: 52 – How to build a multi-billion dollar property developing company (part 1)
Don O’Rorke is the executive chairman of Consolidated Properties Group. Consolidated is one of Australia’s leading development companies with a current work book of more than $2 billion. It is a privately owned company that has delivered more than 200 projects over the last 35 years and is at the forefront of creating places that people love to live, work and shop. As a founding member of the company, Don has successfully shaped the business over the past three decades. Don was only 23 when he knocked together his first commercial deal.
This was a fascinating conversation as we look back over the many significant projects that have shaped the company, starting with a small commercial project in suburban Brisbane. Don shares his insight into how they did it, what they learned and how things have changed with property developing over the decades.
Don was very generous with his time so this ended up being a long chat, so I have broken it up into two parts. Part one covers the watershed projects that have helped catapult the business into bigger things, and part two covers many of the lessons and tips that Don has learnt along the way.
In this part keep an ear out for how Don looks to put deals together, how he did a major deal with the commonwealth government at age 26, and what he does to manage risk.
And remember if you are interested in learning how to develop property then email me email@example.com to find out about the mentoring program that is available to help you get started on your journey to becoming a successful property developer.
Lessons for Real Estate Developers
There was so much gold in the first part of the discussion, and there is so much more to come in part 2, so make sure you tune in to that when it drops. Here are three things I took out of what we have talked about so far:
1. Be ambitious and curious as a property developer
Don mentioned how he was always ambitious about growing the company, and curious about exploring how deals could be structured. There are many creative ways to structure deals so why don’t you start exploring what is possible. Don said he was getting advice from people he knew, so go looking for creative ways that could get your next deal off the ground.
2. Manage key development risk through partnerships
Don talked about how on their Casuarina project they off set some of the risk through effective partnerships with the land owner and builder. And on the law courts project they partnered with more experienced consultants to off set their inexperience. And this is good advice, if there is a part of your project that needs bolstering then try searching for somebody that can help strengthen it. Whether it be finance, planning, selling or construction.
3. Try to keep property transactions simple
I like how Don said he tries to keep things simple. And he does that by trying to put himself in the shoes of the person on the other side of the transaction. This way he can find options to make a complicated transaction simple. For example, with the law courts project he knew the government preferred the location of the land they had, and he just needed to work out how to satisfy the other things they wanted. By working on keeping it simple he has grown a massive business.
Okay, that’s it for part one of the discussion with Don O’Rorke from Consolidated Properties Group. Make sure you tune it to part two where we talk about how you can structure your developing business for growth and also discover one of the most expensive lessons Don paid for. He has a framed cheque for $200,000 to remind him. So make sure you listen in when that is available.
If you are enjoying this conversation with Don, then go back and take a listen to episode 15 where I speak with...
Nov 14 2018
Rank #5: 61 – The value in developing iconic buildings
Would you like to go from a simple suburban duplex to iconic building developer? Making thousands of mistakes along the way but persisting and breaking through the ‘development ceiling’?
Shane Wilkinson is the founder and managing director of Melbourne’s Pace Development Group. He has been developing property since he was 19, and has so far done more than 100 projects.
Over 21 years, Pace has delivered more than 2,000 homes and more than $2 billion dollars’ worth of real estate, including one of Melbourne’s most recognisable buildings, the Icon overlooking St Kilda Junction.
“I’ve made thousands of mistakes over the years. Thousands!” Shane Wilkinson
The company has four projects currently under construction, three settling later this year and a further 1,758 apartments in its pipeline.
It’s a long way from Shane’s humble beginnings doing a simple duplex project in suburban Melbourne.
We have a great conversation covering a host of topics including what Shane has learnt along the way, the biggest pickle he has found himself in and the one thing you need to focus on if you want to succeed in property developing. Also keep an ear out for Shane’s advice for how to deal with problems.
This is a broad discussion which I’m sure you will enjoy.
Lessons for real estate developers
This is another cracking conversation with a guy who has gone all in on his developing career. Here’s a couple of things I took out of that chat:
1. If you really want to succeed as a property developer you need to go all in
Shane made it clear that he has gone all in with his developing, and in his view that is what you need to do if you really want to succeed. He has slowly built up the business from humble beginnings and has broken the ceiling that he spoke about, and now his company has the balance sheet to take on big projects. So how much are you prepared to go all in?
2. Deal with problems straight away
I like how Shane was really clear that the best way to deal with problems is to tackle them straight away. Don’t let them fester or get out of control. Deal with them early and move on. Simple but powerful advice.
3. Learn from your mistakes and keep going
Shane mentioned that he has made thousands of mistakes over the years, but he has picked himself up, dusted himself off, learnt from it and kept going. I agree that perseverance is a key trait if you plan on sticking around long term in the developing game. I think the secret is not to make the same mistake twice and not let the stumbles keep you down. What’s the biggest mistake you have made in your career so far? Let me know by leaving a comment on the page of this episode, number 61, over at propertydeveloperpodcast.com
Alright, if you enjoyed that conversation with Shane Wilkinson then you should jump into the past episodes of the show and take a listen to my chat with developer Danny Ciarma in episode 30. One of my favorite conversations so far… Danny has delivered some beautiful apartment projects and shares some of his lessons, including this gem about ensuring that you buy the right site. There is so much bullion in that discussion that it is definitely worth going back and taking a listen to episode 30 at www.propertydeveloperpodcast.com.
Remember to contact me if you are interested in learning how to develop property safely and profitably, email firstname.lastname@example.org for some info
Don’t forget to catch me on Insta [https://www.instagram.com/property_developer_podcast/] and Facebook [https://www.facebook.com/propertydeveloperpodcast] for all my latest project pics and videos, industry news and other fun stuff. You can also post a comment on iTunes if you are enjoying the show, and of course all the past episodes can be found at www.propertydeveloperpodcast.com
So, until next time may some of your projects become city icons.
Pace Development Group – https://pacedg.com.au
Oct 02 2019
Rank #6: 54 – Planning your way to property development success
So, given the time of year, I thought it might be useful to put out an episode about planning, so I have called in a mate of mine who helps high achievers get even more out of life. Michael Johnson aka The Mojo Master shares his thoughts how you can get the most out of your life.
If you are like me, you spend some time at the start of the year reflecting and thinking about what you would like to achieve in the year ahead. Not that it really matters what time of year you do it, as any time of year is just as good as any other to plan, ponder and reflect.
Anyway, Mojo and me talk about how you can sit down and plan your life so that you can lead the life of your dreams. Mojo goes through the steps he takes with his clients to help them map out a path to success. We talk about the power of purpose, how values help define your success, what a mission statement is, and finally how you can set realistic goals that will help you achieve greatness.
Just a word of warning, Mojo throws out some four letter words during this discussion, so if you need to pop the earphones in then do it now, otherwise enjoy this conversation about how you can plan to succeed in the coming year.
A way to plan your year
I trust you enjoyed that chat with my mate the Mojo Master. It certainly helped spark some ideas and thoughts for me. I thought I would just quickly recap what Michael covered, so he said he goes through 4 steps with people,
First he asks people about their purpose. Why are they doing what they’re doing. What would they love to do in life.
Second, he helps people understand their values. You can get clues about your values by the way you live, how you spend your time, how you spend your money, what you surround yourself with. And then create a list of those core values, as this will help you figure out what’s most important to you. Your values will guide your decision making.
Step three, create your mission statement. This is where you start defining what your life is all about.
What is your life going to look like. How are you going to do it? Your mission might expand and contract as you go through life. And start to think about how your values fit into it.
Finally, start to set your goals.
Set goals that will help you feel fulfilled. Avoid goals that are about proving yourself to others, but about what is going to fulfil your own purpose. Then break them down into three’s - daily, weekly, monthly, and quarterly goals.
And remember if you need accountability then you are not doing what you love.
Purpose, values and mission statement
So just to recap define you purpose, figure out your values, write your mission statement and set your goals.
okay, I hope you find that helpful to setting some plans for the year ahead. If you are interested in finding out more about the Mojo Master then check out his website or attend one of his upcoming events.
If you enjoyed that chat about planning, then you might want to go back and take a listen to episode 49 with Dr John Demartini, as we discuss how you can become a billion dollar property developer. John has really helped me get to where I am today. There is lots more gold in that conversation so go back and take a listen to episode 49.
Don’t forget to leave a comment on iTunes if you are enjoying the show, and if you are feeling fired up and want to take action on learning how to develop property, then email me, email@example.com to find out more about the property developing mentoring program.
You can also catch me on Facebook and Instagram for my latest pics, videos and developing news.
So until next time, may you take the time to plan out your life and live your ...
Jan 03 2019
Rank #7: 45 – From toy shop owner to property developer (part 1)
Troy has gone on to do a stack of development projects, set up a property developing training program and learnt a lot along the way.
I first spoke with Troy in 2012 about doing his property developing mentoring program, and after signing up and starting the program I secured my first development site and eventually completed my first project, which as you know ended up being a 20 townhouse project that was way bigger than I ever intended, but I successfully got there in the end and it was a terrific experience. And I couldn’t have done it without Troy’s help.
When I started the podcast, Troy was on my early list of people I wanted to have on the show, so I’m excited to be finally bringing him to you. We ended up having quite a long chat, as we meandered down memory lane, and cover how Troy started off doing a couple of renovations, before starting his development career in Ballarat in regional Victoria. Since then Troy has completed a stack of projects, and set up a program to help wannabe developers.
People often think it is easier to develop in a hot market but it is challenging to acquire profitable sites. - Troy Harris
I have broken the conversation into two parts, so in part one, we cover how Troy went from owning a retail shop to developing, the biggest obstacles he had to overcome, and what he has learnt along the way. Keep an ear out for Troy talking about what holds people back from taking on developing.
Tips for real estate developers
Make sure to tune in to part 2 to catch the rest of the conversation. Here are three things I took out of my discussion with Troy:
1. Your mindset helps decide your life
I know people keep banging on about having the right mindset, and it is almost a cliche, but it is actually true. We live in the world of our own making, and the funny thing is, is that you can create the life and world that you want. Not just by thinking about it, but working on it. The key is deciding what you want, and then putting in place a plan to get there, and importantly getting help along the way from people who have done it, or know how to guide you. When you decide that nothing will stand in your way, then you just get on with it. Your brain has the amazing capacity to believe or be programmed, and coupled with your heart/desire, you can achieve incredible things. So if you are sitting there thinking about all the reasons why you can’t do something, try flipping it around and asking about all the ways that you can.
2. Early success can be a curse
I have been down this path before. Sometimes having early success can lead you to be complacent about what you need to do to continue being successful. Troy talked about how he did well out of his first renovation, and he thought it was because of everything he did, whereas he found a buyer willing to pay a great price for his homestead, which was a little unique, but when he did something more conventional, he came up against the weight of the market. I found that with my second project. I thought that since council supported, in fact pushed, for a more dense project, they would do the same on my next project, but they didn’t and it was a costly lesson.
3. Identify your perfect site
This is a good tip from Troy. Once you identify your perfect site, it narrows your search parameters and focuses your effort. You are less likely to go down rabbit holes chasing potential development sites of all shapes, sizes and locations. It also allows you to be clear with agents about what you are looking for, so they can help find it. Troy gave a few things you can consider to identify your perfect site - the location, the project type, and the likely cost.
Jun 08 2018
Rank #8: 47 – Getting 200 people lining up to buy your property development (part 1)
Andy is the Founding Principal of Hoyne, and has been working in and around the property sector for the last 25 years, helping major Australian and international developers and councils create recognisable landmarks across Australia. This, coupled with Andy’s travels around the world, mean he has seen how the power of effective placemaking can completely transform communities.
Andy strongly believes that we can do more to create meaningful places, and this led him to publish The Place Economy – a significant resource book that looks at best-practice placemaking around the globe and its social and economic impacts. And you will have the chance to win a copy of that book, so stay tuned for how.
"In a hot market people get lazy and just deliver product." Andy Hoyne
This ended up being another longer chat so I'be broken it up into two parts.
In the first half of the interview we cover the importance of having a point of difference, how you can mitigate risk through innovation, and the 'must do' marketing activities for developer’s on a budget.
In part 2, we will cover how to grow your development business and create a company that stands out.
Keep an ear out during this part of the discussion for Andy's tips on how you can get 200 people lining up to buy your product...
Tips for real estate developers
I think part 1 of my talk with Andy was chock full of ideas and inspiration to help take your developing to the next level. We keep mining for more gold in the second half of the conversation so make sure you catch that in the next episode.
Here are three lessons I took out of that part of my chat with Andy
1. Successful property developers understand the importance of having a point of difference
It was a great point that Andy made around the challenges you will face if you deliver the same offering as pretty much everyone else. It means you will ride the ups and downs of the market. Without offering something compelling how can you expect to influence the price upwards? Andy gave the great example of how the bottom 2% of a building, if done really well, may in fact positively influence the prices of the 98% of units above it, because there is something really interesting and attractive there for buyers. Andy suggested hiring really good, clever consultants who can really help you shape something special.
2. Property developers can mitigate risk through innovation and difference
Following on from the previous point about being different, if you want to get higher returns then Andy talked about not just continuing to do the same thing over and over again. If you can understand what people want, create a compelling solution and exceed people's expectations, then you will be able to find a market for your product and command a higher price. Good developers can deliver quality products over and over, great developers can adapt and change how the game is played.
3. The 'must do' marketing activities for property developers on a budget
I love how Andy came at this question from the point of 'how do you get 200 people to line up for your product?' That's a great way of thinking, and something I do for my projects when I get ready to market them. I think I only need 20 people, or whatever the number is, to love our offering and agree to sign up. So how can I help them fall in love with one of our properties. Andy talked about following this simple process.
Step 1. think about who the market is for your project or property and cater to them, are they families, wine lovers, dog lovers, young couples. Whoever it is, figure it out and focus on them. What's going to light their fire or get them excited?
Jul 17 2018
Rank #9: 57 – Shifting from consultant to the property developer
I will be speaking with them about their experience of moving from the consultant side of project delivery to becoming 'the developer'. I think you will enjoy the conversation with them.
Remember, if you are keen on breaking into the property development game and want to learn how, then remember we have the mentoring program that is available to teach you everything you need to know about becoming a successful developer. Drop me an email if you want to know more about the mentoring program firstname.lastname@example.org and I will send you some further info.
Now just before we get to today’s guests, I wanted to let you know about my guest in the next episode. He’s an Aussie agent, working in the US, who sold a property for a billion Australian dollars. Yes, that’s right, b for billion. I am sure you will enjoy the discussion around how you sell such a high value property. So make sure you keep an ear out for episode 58.
Okay, on to todays guests, I was really excited about speaking with these two developers because they have an interesting story to share. Olivia Christie and Sonya Miller are running a business that provides consulting services to institutional developers and they are also in the process of delivering their own development project of a luxury apartment block.
We talk about how they got into property developing, what they have learned from working for large developers, and how their first foray into their own luxury apartment project is going.
We also cover topics such as their approach to community consultation, responding to a softening market and the importance of backing yourself. And we touch on being female developers and what, if any difference, that has on their approach to developing.
There is plenty of great stuff in this chat which I am sure you will enjoy.
Lessons for property developers
I really enjoyed speaking with Sonya and Olivia, and took away these points:
1. Be proactive with community consultation
I understand that dealing with neighbors and objectors can be challenging, but being proactive about engaging with them may help to smooth the application process just a little bit, or maybe even a lot. Most people don’t like change, and to discover that some new building is going up next door in the street can unsettle some residents. Seeking out their views, and being prepared to change, demonstrates to council that you are being considerate of your neighbors. My view is that neighbors are going to find out anyway about your development, so better to get on the front foot and let them know yourself. This is certainly something I have found on my projects to be helpful, and can avoid complications and delays from trips to planning tribunals.
2. Be mindful of how you respond to a softening market
I thought it was interesting to understand that by simply dropping your price mid-way through a project due to softening conditions can have some serious flow on effects for your existing buyers. It influences how they feel about their purchase and also their own valuations at settlement. So it can be helpful to stay in touch with your purchasers, re-assure them about their property value, and importantly have faith that your product will stand up to market scrutiny.
3. Back yourself
I know this is a common piece of advice, and that people say have confidence in your abilities, but confidence comes down to practice and implementation. So try being proactive in your decision making and dealing with issues.
Mar 07 2019
Rank #10: 13 – How a property developer diversified his business and changed his life
In our conversation we cover a lot of ground including the importance of your mindset to creating the life that you want, how to stay focused and what you need to do take that developing business of yours to the next level.
I hope the conversation with property entrepreneur Matt Jones, inspires you to think about getting to the point where you can take yourself off to another country for a few years to immerse yourself in the culture and reflect on your success.
I really like how Matt understands his purpose and uses that to guide his decisions, I’d encourage you to do the same.
I took quite a few things out of our discussion, and here are my top 3:
1. Be laser focused about why you are a property developer
This may sound a bit nebulous but it all boils down to why are you doing things. Why do you want to be a developer? Why do you want to deliver successful projects. Is it to spend more time with your family? Buy some freedom? Buy a Ferrari? Whatever is most meaningful to you is what will continue to inspire you each day. You need to find it.
2. Be consistent with your developing effort
I like this idea of consistency. Matt talked about consistently using your time. So if you have 7 hours a week, do 1 hour a day, not all on the weekend. If you can allocate time every day to do things that will help you get there, sooner or later you will… as the saying goes.. you get out what you put in…
3. Don’t be too keen to get a property development deal on the table
I know what it can be like finding a site and really wanting it to work, and massaging the numbers to get it across the line. However, you need to develop the ability to say no. Don’t force a deal to work. Don’t fudge the numbers or think you can do more than you actually can. Stick to your numbers and keep working on the next deal until it clicks. And then pull the trigger.
Okay, that’s all for this show. Thanks again for listening in. Drop by the website to leave a comment or check out my latest projects pics. You can find me Instagram too, at Property Developer Podcast (https://www.instagram.com/property_developer_podcast), join the fun as I regularly post pictures of sites and developments I see around the place.
And of course, drop by iTunes and leave us a review, I would be grateful if you did. Until next time, my all your croissants be filled with chocolate… au revoire.
Property Resource Shop - https://www.propertyresourceshop.com
Property Developer Podcast on Instagram - https://www.instagram.com/property_developer_podcast
Justin's latest project pics
May 06 2016
Rank #11: 10 – How good design can boost the returns on a property development
Listen in and you'll discover a couple of excellent tips during our conversation around how to qualify if your designer is right for you and your project, a great way to negotiate on fees, and why good design makes a difference and can reduce risk.
Based on the discussion with Dom, there’s a few things I would definitely suggest to any real estate developer looking to find a new designer for their next project, and they are:
1. See if the designer will do a quick feasibility for you.
This will help you establish if they understand the market you are working in. They may charge a small fee for this but I think it would be worth it to determine what they think they can get on the site and how they assess the local market.
2. Ask the architect how they manage relationships with builders?
This is a great question because the builder is so important and the relationship between the architect and builder is critical to getting the build done as quickly and efficiently as possible. So, ask how do they ensure they stay on good terms? Even ask to speak with a couple of the builders they are currently working with.
3. Find a designer who has a high quality of design in their work.
It is better to find a designer who has a history of producing high quality work than try to push someone to come up with a better design. Most designers should be able to provide plenty of visual examples of what they have done. Importantly Dom suggested you ask whether the end result was over and above the developer’s expectation or if it was less.
Quality of product is really important so it is prudent not to mess about on it. What would happen if you spent 10-15% more on design? Would you get your permit faster, would you sell quicker, would you get an extra 10-20% on your end sale price? I reckon it would be worth it.
4. Negotiate on scope not on fees.
Don’t just focus on lowest cost when assessing design proposals. I like the idea of negotiating around scope rather than simply lowest cost, as I mentioned if you screw people down too far it will foster resentment which will show up somewhere along the line. So discuss with the architect how the fee structure could be different if the scope shifted, and see what you could do or get someone else to do. And remember you may save time and ultimately money by investing up front in great design from a good designer.
So there you have some pretty valuable tips and ideas that could save you a lot of time and money, and deliver higher returns. If you would like to find out more about Cera Stribley Architects you can check out their website at www.cerastribley.com
That wraps up another show, head over to iTunes for a review if you got some value from this episode, or stop by the Property Developer Podcast website for more developing gold.
And until next time, may all your developments look sweet and sell fast.
Cera Stribley Architects - www.cerastribley.com
Mar 16 2016
Rank #12: 14 – Clever property development funding tips from a leading finance broker
We cover some really interesting content related to project finance, and I think you will find it helpful for reflecting on where you are now and where you want to get to, and how you can map that financial journey out a bit more.
We talk about some sophisticated funding solutions that are available to help you stretch your money further, ways property developers can manage their cashflow, the importance of understanding your business model, how you can strategically plan your funding needs, and how to avoid problems that bring developers unstuck.
“Funding your project is a massive risk item and the more developer’s understand that, the better.” Dan Holden
Dan Holden’s Cash Flow Strategies for Property Developers
1. Include a development management fee
By including a development management fee into your project feasibility, you allow yourself to receive income during the project lifecycle. In many instances, the first mortgage construction finance provider will allow a periodic development management fee to be advanced from the loan as part of the professional fees but remember that it needs to be kept reasonable, reflecting your contribution to the project.
2. Access an Equity Redraw
Be smart and replace some your equity during the project lifecycle. How and when you utilise your capital can greatly reduce the demand on your cash flow and it is important to remember that in most instances, project risk reduces as the project progresses. It therefor follows that the earlier in the project timeline that you borrow money, the more expensive that money will be.
Obviously, the most capital-efficient way would be to use other people’s money (OPM) as much as possible, however that comes at a cost and delaying the point in time when you utilise OPM will reduce this cost.
3. Schedule projects efficiently
Try to get a pipeline of projects in the planning, pre-sale and construction phases. If you only have enough equity to develop one project at a time the ability to maintain a consistent flow of projects and resultant profits is significantly reduced. By taking advantage of the above principals you may be able to make an “equity redraw” and introduce OPM to replace some of your existing equity once you have secured the development approval and some pre-sales. This will then allow you to utilise the capital released to secure your next project without having to wait until the current project is completed.
This approach leverages your equity to make it work more efficiently as well as bringing forward the income streams for future projects and there for improving your cashflow by shortening the timing between project completions and the resultant profits.
4. Negotiate your settlement terms
During the early stages of a typical development project lifecycle, the most capital-intensive part will be the settlement of the development site. By negotiating favourable settlement terms, you can potentially delay paying for the property until you have substantially removed the approval risks associated with it. This in turn will improve the funding costs and the project cash flow in general.
5. Have a safety net by diversifying your profits
If possible, have another business that you can operate in parallel with the development operations. This applies more to smaller businesses that are largely undertaking one project as a time and do not have the capital to smooth out the resultant cash flow lumpiness. Having a small income generating business that requires minimal capital and operating overheads such as a real estate rent roll,
May 20 2016
Rank #13: 58 – How to sell a billion dollar property
I am speaking with a man who has done exactly that, and we learn how he approaches marketing challenging and difficult real estate.
I am sure you will enjoy his tips and ideas. It seems that I have a bit of a series developing around billion dollar property stories… hopefully yours is one in the making… and we can talk about it in the future.
And just quickly before we get to today’s guest, if you want to learn how to develop property safely and successfully, then email me email@example.com about the mentoring program that is available to help you get started on your development career.
Okay, on to our guest, real estate agent Bernard Uechtritz. Bernie is an Aussie who is based in Dallas Texas, and has forged a reputation selling unique, hard to sell and high value property, with his largest transaction a ranch in Texas valued at around one billion Australian dollars, that’s a B for billion! I was keen to speak with Bernie to find out how you go about marketing and selling a property with such a high value.
We are a high risk, high reward, elite specialist company. We like to call ourselves the Seal Team 6 of real estate.
Bernie has sold some amazing real estate over the years, including an infamous property where a family murder took place, and I am sure you will enjoy his insights into some of the key tactical activities he employs, what is different about selling high end property and what developers should think about when marketing their projects.
Keep an ear out for the ground work that Bernie puts in before he even has the authority to sell a property.
Interestingly enough, Bernie and me also share a history of growing up in Papua New Guinea, so his response to my opening question about what he would eat until he was sick, brought a big smile to my face…
Lessons for property developers
I really enjoyed hearing about how Bernie approaches selling unique, high end properties and how for each campaign he is looking for that angle that will help make the property jump out in the market.
Here are three things I took away from our conversation.
1. Every property has a buyer
I love Bernie’s view that the property market is like the car market, there’s an arse for every seat, so there’s certainly someone out there for your development stock. The way Bernie goes about finding that buyer is to cast a wide net, create a competitive marketing environment, and manufacture a situation conducive to selling a property as fast as practical. He likes to generate interest over a 90-120 period, get things to a fever pitch and close the deal. So give some thought to how you could look to do something similar in your next campaign.
2. Find the unique angle or story that will help the property stand out
Bernie mentioned that he likes to design campaigns around the story or stories of the property he is marketing, to help bring it to the market in a way that creates interest and a ultimately a deal. He said every property is different, and he likes to build a custom campaign around it. Even if the property has a stigma, like being a murder scene, you can be clear about it and make it work to your advantage.
3. Be a good listener
I found it interesting that Bernie works on being a good listener. He said that people want to be heard and respected. And that if you want repeat customers it is wise to listen and respond to what people tell you. It reminded me of what past guest, and former FBI hostage negotiator Chris Voss, calls the Black Swans, a little piece of information that can turn a negotiation on its head and lead to an incredible outcome. So why not practice being an active listener in your next conversation and see how it goes.
And speaking of Chris Voss, you may enjoy going back to our conversation in episode 33 (https://propertydeveloperpodcast.
Apr 11 2019
Rank #14: 56 – Money markets, construction funding and property development finance outlook for 2019
I chat with past guest Dan Holden from Holden Capital about the state of the lending market and what’s ahead for 2019, Dan is joined by his chairman Steve Wiltshire, and together they bring an enormous amount of finance experience to the discussion. I know you love a finance conversation and this one is chock full of tips and ideas.
Given the dynamic nature of the current lending market I thought it would be helpful to speak with them about what they are seeing in the money markets, the impact of the banking royal commission and what they expect for the remainder of 2019 from a finance perspective.
We also talk about what developers can do to thrive in this environment, and some great tips for how to set your developing business up for success.
This is another fruitful trip down the gold mine, so get ready to pick up all the nuggets that Dan and Steve offer up.
Tips for Property Developers
Here’s three things I took out of our conversation.
1. Really understand your property developing business
Steve mentioned that the successful developers he has worked with really knew their business and their product. They undertook extensive and ongoing market research to ensure their offering was in line with what the buyers want, they didn’t just stick to what worked last time. They also understood their business model and didn’t tinker with it every few days based on bad media stories, and importantly they clearly focused on conserving and sustaining their capital.
2. Consider factoring higher funding costs into your property development feasibility
Rather than hang around waiting for the cheapest finance deal, it may be worth including additional funding costs into your feasibility. It might cost you more in the long run waiting around for those pre-sales and for the bank to assess your application. So what funding changes could you absorb in order to get started or finished sooner?
3. Be prepared to adapt and act in a changing property market
Property and funding markets are dynamic, at any stage usually, so sitting around looking over your shoulder and waiting for things to get back to what they were is not going to change what you are facing, so I think it is wiser to weigh up your options, consider if you need a different finance deal and take some action to get your projects underway. Be proactive and decisive.
Okay, if you enjoyed that chat with Dan and Steve then you may enjoy my earlier chats with Dan in episode 35 where we discussed the funding secrets of elite developers and episode 14 where we covered clever property development funding tips like how to use your capital effectively. The content is still highly relevant today.
Remember to drop a comment in iTunes if you are enjoying the show. Thank you to those legends that have already done so... If you are pumped up and want to take action on learning how to develop property, then email me, firstname.lastname@example.org to find out more about the property developing mentoring program.
Holden Capital - http://www.holdencapital.com.au
Feb 19 2019
Rank #15: 60 – Thinking beyond digital boundaries to sell off the plan property
Selling property off the plan presents unique challenges, particularly when the market is soft.
But fear not, help is at hand from this 20 year sales and project marketing veteran. He will share some sales tips and ideas beyond online portal listings and digital advertising to help you sell out your next property development project.
John Meagher, from Three Sixty Property Group, is one of Australia’s leading project marketers and has been involved in some of Australia’s most iconic and successful residential developments. He has spent more than twenty years in senior sales and marketing positions and is responsible for the sale of more than 20,000 residential properties. So he knows a thing or two about selling off the plan!
We have a great discussion around marketing and selling property developments. Keep an ear out for how John approaches thinking about a marketing strategy, particularly his comment around being parachuted into an area without any digital back up, how he looks to segment, target and sell, and different ways to connect with prospects in places you may not have thought of.
I think you will enjoy this discussion, I certainly did.
Lessons for real estate developers
There is some absolute solid gold bullion in that conversation about how you go about marketing and selling property developments. I really enjoyed my chat with John and took these points away with me:
1. Think beyond digital boundaries when selling property off the plan
I loved John’s comment about what would you do if you parachuted into an area with no digital back up and had to make some sales. What would you do? Who would you talk to? How would you start? This is a great way of thinking beyond portal listings or social media advertising to add some breadth to your marketing campaign. So give some thought to how you might market your developments without any digital channels…
2. Segmenting your buyer audiences to succeed
This simple formula is all about understanding who are the likely buyers of your product. What are their motivations, where are they hanging out before they look at your online listing, what are they looking for in their next property? I liked John’s suggestion of interviewing existing purchasers to see what they like or didn’t like about your marketing materials or process, and how did they find your project? These are all great ways to find out who you should be targeting and what messages might resonate with them.
3. Develop a deep understanding of the market where you are selling property off the plan
How deeply do you understand the market you are selling in? Do you feel like you are on top of the trends and demands of buyers in the area? Is there a gap in what is being asked for and what is available? Can you make any connections with local community groups like trader associations or sporting clubs to help expand the reach of your message? You can use all this local intelligence to shape and form your project and product.
And finally, John encouraged a relentless focus on quality, which I agree with.
If you enjoyed the discussion around project marketing then go back to the awesome conversation I had with Andy Hoyne in episodes 47 & 48:
We talked about how you can get 200 people lining up to buy into your project. Andy had plenty of gems of wisdom. There is an enormous amount of value in those two episodes so go back and take a listen to them.
Property Developer Training
Remember to contact me if you are interested in learning how to develop property safely and profitably, email email@example.com for some info
Don’t forget to catch me on Instagram [https://www.instagram.com/property_developer_podcast/] and Facebook [https://www.facebook.com/propertydeveloperpodcast] for all my latest project pics and videos, industry news and other fun tidbits. You can also post a comment on iTunes if you are enjoying the show.
So, until next time may your sales velocity be fast and furious.
Three Sixty Property Group – https://www.360propertygroup.com.au
Jun 19 2019
Rank #16: 49 – How to become a billion dollar property developer
Today I am speaking with a man who can help you see the pathway to being a billionaire developer.
He has had a huge influence on the direction of my life. His name is Dr John Demartini. John is a human behaviour expert, polymath and amazing guy. I’m yet to meet someone who has studied more deeply across a vast range of subjects than John.
He has deeply studied business, relationships, health, wealth and so much more. I strongly suggest you jump over to his website and dig around to discover more about him - www.drdemartini.com
I really wanted to have a conversation with John that might help expand your thinking about what’s possible with your developing, and settled on the topic of how to become a billionaire property developer, as I knew John could cover this subject with great insight, having worked for decades with billionaire businessmen and property developers.I really enjoyed sitting down with John and talking about this topic, and I'm excited to be bringing it to you.Keep an ear out during the discussion for how to own the traits of people you admire, the importance of having a vision and the value of having a team around you.
Lessons for real estate developers
I hope that conversation with Dr John Demartini has helped to expand your thinking, broadened your horizon and inspired you to take your developing to the next level, or maybe several levels higher!
There was so much gold in that chat that I couldn’t come up with only 3 things to highlight, so I have a quick list of 10 things for you to consider:
1. Do you have a vast vision and purpose?
John said it tends to lead to greater wealth and achievement, so think about how big you could go (and then double it!)
2. Having a team of great people around you will help you scale and grow.
3. Own the traits of the developers or people that you admire.
The people you admire are only humans, and you have the potential to be just as great or even greater than them. Find out what traits helped them get to where they are and figure out how you have those traits too.
4. Have a long term plan and be patient.
Stay focused on your big picture goal and keep chipping away at it.
5. Grow a base of loyal investors that can help fund your projects.
Can you help educate a group of people who you can help grow wealth with?
6. Operate on the basis of fair exchange - it will carry you further and longer.
Don’t always go for cheapest price, or fastest results, or driving people into the ground. Try and be fair and equitable.
7. If you help people to get what they want, you can get what you want.
8. Is your vision a fantasy or will it become a reality?
How serious are you about the dreams and goals you have? Is it just a fantasy or are you taking steps every day to make them happen?
9. Billionaires have problems too!
Don’t think that your life will be easy if you snapped your fingers and became a billionaire, you’d have problems, they will just be different.
10. And finally, the only person stopping you from getting what you want from life is you. So forget about the excuses or the fears, stop running a story, and go after what you really want.
If you want to find out more about John then head over to his website drdemartini.com, go and see him speak at one of his free public talks or better still do one of his courses.
Until next time, may you have a vast vision and become a billionaire property developer!
Dr John Demartini - drdemartini.com
Aug 16 2018
Rank #17: 51 – Generating and nurturing leads for off the plan sales
So today I am talking marketing off the plan properties with Tim Fleming. Tim is currently working on a couple of publishing platforms that help developers market their stock, and Tim was also involved very early on with realestate.com.au so he has enjoyed a front row seat over the past 10 years as the digital wave crashed over the property market.
We talk about what impact digital marketing has had in off the plan sales, how you respond to a changing market and a couple of great ways you can generate and nurture leads. If you want some ideas on how you can generate more leads for your next project then we share some gems that won't break the bank.
Lessons for real estate developers
It was a good chat on how digital marketing is helping to reshape off the plan selling. I found it amusing when Tim recalled how in 2007 an email address was considered worthless as a lead to a developer, how things have changed! Here are a couple of lessons I took from our conversation:
1. Product and pricing is still very important for property developers
Despite all the advances in digital marketing and the various platforms that have sprung up, getting your product and pricing right is still critical to the sale of an off the plan property. And this is amplified in a softening market, so pay close attention to what you are proposing and how much it is going to cost the buyer.
2. Producing helpful content is a great way for property developers to assist buyers
I am a strong believer in producing content and marketing materials that helps people make a buying decision. If you can help educate people on what they need to consider before they buy a property that can be helpful and build trust. There is a mountain of content that you could produce to help people, from the type of furniture they may need in their new apartment, or how an owners corporation works, or the story about how you chose the site for your project. You can also produce content about the people on your project team - the designers, builders, interior designers etc - and sketch out the details of what you are trying to do. Just keep in mind that focusing on the needs of your potential buyers will produce more relevant content, rather than just publishing stuff that is all about you.
3. Nurture and measure your leads
Tim mentioned that lead nurturing is very important and that paying attention to people is key to converting the lead into a sale. Tim highlighted the importance of measuring your efforts to understand where your audience is coming from and what they are interested in. And don't forget if you have past buyers or an existing database you can leverage your relationship with them. Maybe they have family or friends who may be interested in what you are doing... in fact I am going to do that on my next project with people who purchased in my last project, I am going to let them know early on that we have something coming to market so if there is any interest we can get the conversation going, as they already have some experience dealing with me, they may feel more comfortable dealing with me again.
If you enjoyed that marketing chat with Tim then check out my previous discussion with project marketer extraordinaire Ben Buxton about how to sell out your next development project. Ben had some great tips including an amusing analogy about how cookies relate to marketing your project, so go back and take a listen to episode 8.
Don't forget to email me, firstname.lastname@example.org if you are interested in learning how to develop property, and you can catch me on Facebook and Instagram for my latest pics, videos and developing news.
Oct 12 2018
Rank #18: 55 – How social change creates opportunity for property developers
Jennifer is from the Fountaindale Group and she has worked in residential property development for more than 25 years, after learning the business from her property developer father. Jennifer and her brother have expanded the family business and have so far completed more than 80 projects.
Jennifer has tertiary qualifications in marketing and finance, and is also a licensed real estate agent, heading up the group's sales team. She certainly has an interesting story to tell, and I am sure you will pick up lots of gold nuggets from her experience so far.
In this conversation we cover the importance of discovering niche markets, what its like working in a family business, women in property development and why the structure of a project makes such a big impact on its success.
Keep an ear out for a growing market that Jennifer and me both feel is under-serviced.
Lessons for property developers
Here's a couple of things I took away from our conversation.
1. Understand the gap in the market that your stock is going to fill
Jennifer explained how she is always looking at producing stock that fills a hole in the market, for example smaller units that may suit regional women coming out of relationships, if you can find these niches you should enjoy more success in selling your products, and it may help your business to grow and evolve. Keep your eyes and ears open for market feedback about gaps in what is being offered.
2. Boost your marketing budget when the market softens
Having a marketing background has helped Jennifer evolve and adapt to different market conditions, and with the current softening of the markets she has ramped up her marketing budget. Jennifer mentioned that she is doing a lot of Facebook marketing and finding that females respond far better to her campaigns. So it may be worthwhile bumping up your marketing spend but being more targeted in how you approach your audience.
3. Be careful about over leveraging
Jennifer shared her experience of scraping through the GFC and having to let staff go, and how many developers who over leveraged got caught out. It taught her a lesson to be conservative with the gearing on their projects, and she feels this has served them well. Jennifer also touched on the importance of getting your financial structure right and how much that can help the success of the project. Partnering with land owners has been another way that Jennifer has helped with de-risking projects and keeping the gearing low, so perhaps you could try something similar.
Okay, if you enjoyed that chat with Jennifer then you may enjoy my chat with my old mentor Troy Harris in episode 45. Troy and me discuss many things about developing including some of the myths about being a developer. I'm sure you will enjoy Troy's story of going from toy shop owner to successful developer, so jump back to episode 45 for a listen.
Alright, that's just about it for this episode, remember to drop a comment in iTunes if you are enjoying the show. If you are feeling fired up and want to take action on learning how to develop property, then email me, email@example.com to find out more about the property developing mentoring program.
So until next time, may you find a way to capture the attention of a niche audience...
Fountaindale Group - http://www.fountaindale.net.au
Justin's walkthrough of his latest project - https://youtu.be/UzpwHAA949E realestate.com article - https://www.realestate.com.au/news/is-this-melbournes-most-ott-sales-pitch/
Feb 12 2019
Rank #19: 48 – Getting 200 people lining up to buy your property development (part 2)
Andy has been working in and around the property sector for the last 25 years.
"Why shouldn't property developers be comfortable expecting a 30% profit margin?" Andy Hoyne
I mentioned in the last episode that you would have a chance to win Andy's beautiful book the Place Economy that showcases great projects, developments and case studies from around the world, valued at $200. It is a gorgeous book, chock full of ideas and inspiration for any developer, and Andy will mention during the interview how you can get your hands on it for free, so keep your ears peeled for that!
In part 1 of the interview with Andy Hoyne we covered the importance of having a point of difference, how you can mitigate risk through innovation, and the 'must do' marketing activities for developer’s on a budget, so if you missed that then go back to episode 47 and take a listen.
I have some great conversations coming up with some really interesting people and I can't wait to bring them to you, including my next episode, which I think leads on perfectly from my discussion with Andy Hoyne, about how you can become a billionaire property developer.
If that sounds interesting to you then tune in, as I think you will be inspired by what we cover, it certainly got me fired up. Anyway, that will be the next episode of the show, so keep your ears out for that one!
I really enjoyed that chat with Andy and would love to continue the conversation with him one day soon.
If you have any case studies that you want to send through to me to go in the running to win a copy of Andy's beautiful Place Economy book valued at $200 then send them to firstname.lastname@example.org and I will send them on to Andy for his review and to select a winner.
Lessons for real estate developers
So, here are three lessons I took away from my chat with Andy:
1. Property developers will benefit if they keep growing
I enjoyed how Andy said investing in your organisation or yourself is a great way to combat risk. By having effective processes, new services, and new ways of thinking you can actually help mitigate or eliminate risks. Continuing to grow, personally and commercially, will keep your mind fresh, your business growing, and help to maintain your drive and inspiration. As Andy mentioned, the source of all profit is risk, so if you can reduce your risk then you can potentially boost your margins. So what things are you doing in the next 12 months to grow your brain and stay inspired?
2. Property developers will benefit from hiring people who are great at their roles
I regularly hear how great businesses are built by people who recognise that they need talented people around them. For some people this is a challenge because they want to be the smartest person in the room, or the one calling all the shots, but if you are prepared to surround yourself with bright, talented people who are best in class, and manage them well, you can really take your business to stratospheric levels. And don't forget Andy's tip to hire slow and fire quickly!
3. Real estate developers can build a business that people want to follow
If you would love to build a business that has loyal followers then give some serious thought to your purpose and how you provide value. We will be covering more of this in the next episode about becoming a billionaire property developer. Here's a few questions that Andy threw up:
How can you be different in a way that makes people want to associate with you or connect with you?
How can you deliver something that is better than anyone else?
How are you going to deal with people?
How can you come up with ideas and projects that re...
Aug 01 2018
Rank #20: 46 – From property development student to teacher (part 2)
In episode 46 of the show I've got part 2 of my conversation with my developing mentor Troy Harris. In part 1 we covered how Troy went from toy store owner to renovator to developer, if you missed it, go back to episode 45 and take a listen, and in part 2 we talk about how Troy's property business has evolved over the years, how you can stand out in a softening market and the importance of momentum.
If you are interested in learning how to develop property then email me email@example.com and I can share some information about the mentoring program offered by Troy Harris. I think it is a great program, and will give you all the tools and resources you need to become a successful property developer, and as a listener to this podcast you get an incredible saving off the course fee.
Keep an ear out for Troy's tip on how you can become a better developer.
It was fun for me to revisit some memories and talk with Troy. His mentoring really has changed my life, and doing his training program was one of the best things I have done. Perhaps it has inspired you to learn how to develop property or find out more about Troy's program, if so then email me firstname.lastname@example.org
Tips for Real Estate Developers
Here's 3 things I took out of my conversation with Troy:
1 - Momentum is invaluable in property developing
I liked how Troy talked about how quickly you can generate momentum once you decide to take action. I can still remember the feeling during my first project when I started gathering momentum and I could sense that there was nothing that would stop me from finishing it. And it all came from slowly chipping away at things. In developing you want to maintain progress and not get stopped, because once you stop it can be hard to get the train moving again. So, what action are you taking today to get your momentum started or to keep it going?
2 - Stand out from the crowd when selling real estate
Troy gave some great ideas on ways you can stand out from the crowd, particularly in a softening market. He talked about doing a little bit more than your competitors. Can you get better renders, offer better inclusions, or have better staging in completed properties? Take a look around the market and see what is going on and determine what you can do better.
3 - Always do your best when developing property
I really like this simple yet powerful piece of advice - always do your best. Keep trying your best and surprising things might start to happen. So keep trying your best, keep chipping away, and watch that momentum build!
Okay, if you enjoyed that conversation with Troy, why not jump into the archive and take a listen to episode 34 with Kirk Miller who switched from architect to developer to maintain control of the development process.
I am sure you will enjoy that discussion with Kirk.
HQ Homes - www.hqhomes.com.au
Rookie Developer - www.rookiedeveloper.com.au
Jun 30 2018