In a recent episode of the How I Met My Broker podcast, hosts Liam Garman and Hung Chuy sit down with Steve Maroun, director at Lanevick, to unpack the realities of stepping from investing into property development.

Maroun shares how his journey began after his family lost everything but their home during the global financial crisis (GFC), which pushed him to abandon a law degree and learn property development from the ground up.

By knocking on doors, taking on hands-on jobs like painting fences and renovating kitchens, and eventually buying the house next door as his first project, he effectively created his own "degree" in development.

Throughout the episode, Maroun and Chuy stress that development is not for the faint-hearted, demanding resilience, adaptability, and the ability to tackle projects "one bite at a time".

They explain that successful developers need to master four key pillars – finance, construction, sales, and town planning/design – to identify a site's highest and best use and navigate regulations.

A key theme is the power of complementary partnerships, illustrated by Maroun's design and construction expertise, combining with Chuy's financial strategy to unlock value on a complex Western Sydney site.

For aspiring developers, they emphasise education, understanding the end buyer and council objectives, building a strong expert team, embracing innovations such as prefab and 3D printing, and honestly assessing whether development suits one's life stage and risk appetite.