Property Developer Podcast

I am continuing my special series of discussions during the COVID19 pandemic, this time we are talking with Dan Holden from Holden Capital about all things finance and capital in times of uncertainty.

During dynamic, volatile periods it is common for fear to take hold and cloud our vision of the future. It is often made more challenging when people and organizations around you are withdrawing capital or pausing to take stock.

However, it is important to work through the fear, tackle the issue and get yourself set for future success.

In this conversation we cover:

1. What property developers should they be doing to get their finance sorted.

Use the down time to making themselves ready/bankable by having a business plan that:

 - sets out their historical credentials, skills and ability to deliver

- financial capacity through their assets and liabilities, and cashflow

- how they intend to manage their business over the coming months and years

Don’t do it alone. Talk to your advisors, accountant can help if they are a good one, or us as finance broker can add lots of value beyond just getting a good price on debt pieces.

2. Can you still get money to finance your property development project?

Definitely but it’s a very different landscape with less players, lenders are holding their capital back and new ones filling the gap.

3. How have the finance/lending markets reacted?

We have 160 lenders on our panel, I would put them into 2 categories;

1. many have temporarily closed, preferring to see how bad the economy is going to be hurt before lending more.

2. some have decided to keep lending but at lower gearing and risk, and some have put in place higher pricing

4. Should you delay applying for property development project funding?

Not if you have a sound deal, understand your capabilities and accept that the cost of funding has shifted for now. Expand on risk return and impact of waiting or going ahead.

5. Should you be buying development sites?

Same as above, need to understand your market, likely timing of events, have the ability to sit and wait but then be ready to deliver on the financiers requirements per 1.

6. What is something you have learnt in the past few weeks in response to what has been happening?

- Not always the lenders that you expect to stand up when it gets tough

- A lot of time waster financial offers emerging requiring careful due diligence to avoid disappointment

- Developers are remaining positive and generally looking to be ready when the market re-opens

7. Any books, movies, shows you are recommending to people

- Holden Capital's Constructive Finance podcast - we recently did a series on different loan products and how to best use them in your business to repatriate an recycle capital

- Book: Profit First by Mike Michalewiscz – getting your business cash flow, being the way your money flows in an out of your business. Cash is king, cash is oxygen, few people finding that out the hard way in tough economic times

- Book: Barefoot Investor by Scott Pape.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcast

Property Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/

Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

Links

- Holden Capital - www.holdencapital.com.au

When there is an unexpected slow down it can cause fear and uncertainty but pausing to reassess is not a bad thing, it's what you do next that counts. To help you consider what steps you can take during an unexpected slow down here's the second in my series of discussions with thought leaders about how to respond to the COVID19 pandemic sweeping the world and what property developers can do in response.

I speak with past guest Andrew Hoyne about his advice on what you can do right now. Andrew featured in episodes 47 and 48 where we talked about how you can get 100 people lining up wanting to buy in to your next property development project.

In this discussions we cover:

- 5 things you can do to keep your projects progressing

- 5 things to avoid doing during a slow down

- something new or different that Andy is doing at the moment

- some books and other content for you to consume.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcast

Property Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/

Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

Links

Hoyne - www.hoyne.com.au

Property developers are used to dealing with challenges, coping with uncertainty and managing complexity, but the dilemma presented by the COVD19 virus sweeping across the world is something totally new.

With so much change washing across society, the economy and property markets, what can developers do manage their projects and maintain their equanimity?

In this episode I speak with past guest, and successful business coach, Byron Sakha about how property developers can lead through adversity, and set themselves up for future success once this crisis has passed.

Byron featured in episodes 43 From Henchman to Niche Developer and 44 Strategic Planning for Property Developers, so go back and take to listen to hear about Byron's property development experience.

Here's a quick summary of our discussion:

1. Acknowledge the situation

2. You are in control of how you respond

3. Pivot and protect

4. Adapt and commit

5. Master your mindset

6. Lead and win

Links

Sakha Institute - https://www.byronsakha.com

Property developers are used to dealing with challenges, coping with uncertainty and managing complexity, but the dilemma presented by the COVD19 virus sweeping across the world is something totally new.

With so much change washing across society, the economy and property markets, what can developers do manage their projects and maintain their equanimity?

In this episode I speak with past guest, and successful business coach, Byron Sakha about how property developers can lead through adversity, and set themselves up for future success once this crisis has passed.

Byron featured in episodes 43 From Henchman to Niche Developer and 44 Strategic Planning for Property Developers, so go back and take to listen to hear about Byron's property development experience.

Here's a quick summary of our discussion:

1. Acknowledge the situation

2. You are in control of how you respond

3. Pivot and protect

4. Adapt and commit

5. Master your mindset

6. Lead and win

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcastProperty Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

Links

Sakha Institute - https://www.byronsakha.com

Private capital funding was somewhat of an exotic animal a few years ago for most developers but has become quite mainstream in recent years, with more developers using it to fund their projects as bank lending has tightened. So we dig in to find out the best way to access non-bank lending.

At the time of this recording, Australia is in a kind of lock down due to the corona virus so life has changed quite a bit for many of us. We are spending more time at home and there is a huge amount of uncertainty floating around. So I hope you are well, and coping as best you can. I will be bringing you some episodes about how you can use this period as an opportunity to set yourself up for growth, so keep an ear out for them in coming weeks, including a discussion with past guest Byron Sakha about leading through adversity. In the meantime, perhaps you have a bit more time to listen to podcasts, read books and work on those tasks you have been putting off for ages…

Before we get to today’s guest, don’t forget we have the mentoring program available to help you get started in property developing, if you’ve always wanted to become a developer but don’t know where to start, or have fears about getting it wrong, then the program is an ideal way to learn the ropes and have someone hold your hand along the way. Email me, [email protected] to find out more.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcastProperty Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

Speed to market can often off set the higher costs of non-bank funding.

Okay, on to today’s guest, commercial finance specialist Fabian De Marco from Commercial & Construction Capital. We are talking all things private lending. With the growth in the sector over the past few years, there are many new players in the capital markets and lots of developers are turning to a source of finance that just a few years ago was more of an exotic species than mainstream. But all that has changed as lending restrictions have kicked in and banks have reduced their exposures and risk appetites.

Fabian is a seasoned debt placement specialist with nineteen years of expertise in property development finance, including land and construction finance through senior debt, mezzanine debt, preferred equity and joint venture funding. Fabian also has experience in funds management, financial markets and retail banking, having held senior roles with well known banks, hedge funds and money managers.

We talk about the pros and cons of private funding, some of the pitfalls to look out for and when is the best time to use private capital, which may grow even more over the coming years depending on what happens after the corona virus has passed… so you might be considering this funding avenue for your next project… we haven’t had a private capital conversation on the show before so I was looking forward to hearing about how it can work for you…

Lessons for Real Estate Developers

Okay, there you go, an interesting conversation about alternative ways to get your next project funded. It has been challenging getting pre sales in the past few years, but things were improving until the corona virus struck and the world changed, so now we are back in a tough environment for pre sales so private capital may become even more helpful over the coming years… so here’s three things I took away from my discussion with Fabian.

1. Look to work with private lenders who have a good track record

You want to be sure that you are partnering with a funder that has a good track record on seeing projects through. In the same way that a builder going bust during construction causes major headaches, a lender becoming insolvent or disappearing during construction would also be a massive problem. So make sure they have enough liquidity and experience to complete the project. You need to do your own due diligence on who you may be working with.

2. Determine if your property development project would benefit from private capital

While the funding costs may be higher when using non-bank capital, the higher cost may be offset by speed to market. Instead of waiting around for an extra 12 months to make pre-sales, you could be out of the ground and well on your way to completion, which means you can cash out sooner and work on the next project. So your velocity of projects could increase through paying higher costs but your overall return is better as you turn projects over faster.

3.  Work with someone who has good experience in non-bank lending

As Fabian said, the non-bank market is largely unregulated so you are far more exposed if things go wrong, so it would be prudent to work with someone that has experience working with trusted groups and can advise you on the best course to take. Trying to work directly with unknown groups could be a very risky approach.

Alright, I hope you enjoyed that finance chat with Fabian Demarco. If you want to hear more construction finance discussions, go back and take a listen to episode 56 where I talk with the guys from Holden Capital about how you can get yourself positioned for a tight lending market. They had some great advice for how to be proactive during times of uncertainty. There is plenty of useful tips and advice in that episode so go back to 56 of the Property Developer Podcast. https://propertydeveloperpodcast.com/2019/02/19/56-money-markets-construction-funding-and-property-development-finance-outlook-for-2019/

Okay, 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 [email protected] and I will send you some further information.

You can also catch me on Insta and Facebook for all my latest project pics & 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 of the show can be found at www.propertydeveloperpodcast.com

So, until next time, may all your projects get funding quickly so you can get started sooner…

Links

Commercial & Construction Capital - https://www.cccapital.org

Discover how property developer Rob Flux lost his property portfolio then rebuilt his wealth through developing property. He leveraged all the lessons he had learned from investing in property to come back bigger, faster and better. In this conversation we talk about the importance of mindset and tackling problems, return vs risk and time, and how he runs his business to ensure regular deal flow and project completions.

Rob has enjoyed two parts to his property journey, his first part was as a property investor, buying and holding properties. Then he pretty much lost it all and had to start again. In part 2 of his career, he used development as a way to quickly regain his lost wealth.

Not only has Rob completed a number of development projects along the way, but he has grown one of Australia’s largest networks of people interested in property development. 

In this conversation we talk about the importance of mindset and tackling problems, return vs risk and time, and how he runs his business to ensure regular deal flow and project completions.

To succeed as a property developer you need a growth mindset

Keep an ear out for Rob’s view on profit sharing.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcastProperty Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

Lessons for property developers

I trust you enjoyed that chat with Rob Flux. I think we covered some good ground, and there was plenty of gold for you to consider. 

Here’s three things I took away from our conversation:

1. To succeed as a property developer you need a growth mindset

One thing is for certain on any development project, there will always be problems to solve. Some big, some small. The people who succeed in life are ready to tackle the problems and not let them become a barrier. They see things as on the way, not in the way. I like to try and embrace the challenges and see them as opportunities to learn and grow. The size of the problems you are prepared to tackle will be an indication of what you can achieve in life. So are you ready to tackle little problems or big problems?

2. Reconsider how you view profit sharing

It is very common to see the bottom line in a feasibility and want to keep it all, but as the saying goes 50% of something is better than a 100% of nothing. By not being prepared to share the profit and the risk, you may not get to do a project at all. Or you may be limited by the number of projects you can tackle. So maybe a reasonable profit sharing structure might help you and other people get further ahead in life.

3. What sort of return do you really want from property development projects?

I really enjoyed Rob’s insight about being prepared to accept a lower return, in exchange for less risk and shorter timeframes. Maybe doing two projects that net 7% in one year with little risk is better than doing one project that gets 20% return in 2.5 years with a lot more risk? Maybe a combination of short, low risk, low return projects mixed in with higher return, higher risk projects might be a way of smoothing out the returns while balancing the risk. It all depends on your risk appetite.

Alright, I hope you enjoyed that conversation with Rob Flux, if you did, then you might want to go back and take a listen to my discussion with property developer Davina Wong in episode 59

Davina has used some creative ways to get deals across the line including getting streets rezoned. She’s had to deal with plenty of challenges along the way and shared how she approaches problems. There’s plenty of great insights in that chat with Davina so be sure to head back to episode 59 and take a listen.

Okay, 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 [email protected] and I will send you some further information.

You can also catch me on Insta [https://www.instagram.com/property_developer_podcast/] and Facebook [https://www.facebook.com/propertydeveloperpodcast] for all my latest project pics & 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, let all your problems be opportunities to learn and grow…

Links

Property Developer Network - https://www.developernetwork.com.au

Getting your legal foundation properly set up enables you to protect your projects and ensure they have the best chance of succeeding. So we are talking all things legal when it comes to property developing with property legal eagle Lewis O'Brien.

It feels like a lot has happened since the last episode. Market sentiment and momentum has noticeably picked up across Melbourne and it seems in other cities too. Property values have been steadily rising and confidence is returning to the property sector. Which is great news for property developers. A lot of the doom and gloom news stories have dried up and we seem to be at the start of a new growth cycle.

An incredible amount has happened since we last spoke. We finally received a planning permit for our project that has been drifting through planning for two years. It was great to finally get that stamped letter and we can move on to the documentation and sales phase. And the timing might work well as the market shifts gears.

On my other project we have settled on a funding solution and have received a term sheet from a financier so we are working through all the requirements of that. The valuation report is almost complete and then we will get the Quantity Surveyors report knocked over once we finalize some details with the builder. So it is all happening on that project too. It feels like more has happened in the past six weeks than most of the past 12 months, so it is nice to have a sense of momentum with the projects.

And speaking of momentum, if you want to get some momentum going with your plans to start property developing, then remember we have the mentoring program that is available to teach you everything you need to know to become a successful developer. Email me on [email protected] for further details.

"It’s easy to enter into a contract worth half a million dollars, so it’s worth getting some advice about how to make it better." Lewis O'Brien property lawyer

Okay, on to today’s guest, our first legal discussion with property lawyer Lewis O’Brien. Lewis specializes in property and commercial law, with a particular interest in serving property developers and investors. With more than 20 years of experience, Lewis has seen plenty of contracts across his desk and also the sticky situations some people find themselves in when property deals go wrong.

We have a fairly broad conversation covering such topics as covenants, options, joint ventures, contracts and the common pitfalls that you should look out for. During the discussion Lewis refers to some useful resources that he has available on his website and I will provide the access code for those following our chat.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcastProperty Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

Lessons for real estate developers

If you are interested in any of Lewis’ online guides and resources that are available on his website, you can use the code PropDev15 to get 15% off the asking price… now I have had a look through the guides and there is some great stuff in them. Lots of questions that you need to answer before you enter any agreement. So head over to www.lewisobrien.com.au for more information

Here are three things I took out of my conversation with Lewis:

1. Get good legal advice upfront before you enter into any property contract

Throughout any development project you will be entering into many contracts and most of them are pretty important so I think it is crucial to get good legal advice before you enter into anything that might curtail what you want to achieve. A small one liner in a contract might be the difference between success and failure, and it might be something that reads innocuously to you and me. Like all good consultants they’re advice should save you money in the long run, so make sure you have yourself a good property lawyer.

2. Make sure your property contract is tailored to the purpose

As Lewis mentioned, you are going to enter into a few contract through the life of a project and you want to make sure that each one is fit for purpose and protects your interests. The big ones are initial sales contract for the site, consultant contracts, finance offers, off the plan contracts and of course the building contract. As the leader of the project, you have the ability to shape the contracts that get used, so be sure to get your legal team to ensure the contracts you sign are not going to bite you later. 

3. Allow sufficient budget in your property development feasibility to cover decent legal advice

I often hear of people trying to scrimp on the consultant costs they pay and sure you shouldn’t just pay whatever you get presented with, but I would advise to allow sufficient budget for your key consultants like the lawyer, as good advice upfront can save lots of pain later, and it can also provide peace of mind to you that key things are covered off. I look at it as project insurance and a risk mitigation measure.

Now speaking of contracts and entering deals, you might want to go back and listen to my discussion with ex-FBI hostage negotiator Chris Voss in episode 33, Chris provided some excellent tips on how you can generate amazing results. My chat with Chris is still one of my favorites some go back and take a listen to episode 33, and I highly recommend his book Never Split the Difference.

Okay, remember if you are interested in learning how to develop property then drop me an email [email protected]

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 may all your contracts be water tight and protective of your interests.

Links

Lewis O’Brien & Associates - https://www.lewisobrien.com.au

Selling property off the plan is always a big focus of any property development and getting it right is crucial to the overall success and timeframe of the project, but it is trickier than selling existing real estate and requires skilled and talented agents.

Discovering the secret sauce to selling property off the plan will help you to get your projects finished sooner, generate great sales velocity and ensure the project delivers for everybody. I speak to a leading project sales agents to find out how they approach selling property development projects and what you can learn to make sure your next project is a sales success.

My guest today is from the same group as previous guest John Meagher, so if you missed episode 60 where we talked about selling and marketing projects, make sure you go back a listen to that as there is lots of gold that you will love.

Campbell Royston works at 360 Property Group helping to sell some of Melbourne’s best projects and we discuss what the secrets are to successfully selling property off the plan. We talk about the power of tailoring your sales campaign and ensuring you are targeting the right buyers, as well as a range of other issues about selling property. I am sure you will enjoy this conversation as I much as I did… Keep an ear out for the question Campbell frequently asks to clarify people’s intention…

Don’t forget that if you are interested in learning how to develop property safely and profitably 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 [email protected] and I will send you some further information.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcastProperty Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

Lessons for property developers

Okay, there you go, another great conversation about how to sell property off the plan, I hope you enjoyed it. I always like talking about selling property, as there is no real silver bullet to successfully marketing your project, it takes a combination of elements all working together to get a great result. So here are the things I took out of my conversation with Campbell:

1.     Real estate developers can ask what the purpose is behind their intention

Understanding why you are doing something provides greater clarity to your intention, for example why do you want to get bigger? What is it you want to change about your business? Is it the quality or style of your projects, is it your brand? But why? Why are you wanting to change? If you understand that reason, you can more clearly go after results.

2.     Understand who your property buyers are

Segmenting to succeed, that was a message I again got from speaking with Campbell. Have you given deep consideration to who you are selling to? Do you understand their needs, desires, wants? What information and journey will they go on before making a buying decision? If you are ready to take buyers along that path then you set yourself up for the best opportunity to convert enquiry to sales.

3.     Tailor a marketing campaign for each project

As Campbell mentioned, they tailor a specific campaign for each project, there’s no spray and pray approach where you just tick boxes and hope you get leads. I like to work closely with the selling agent on the marketing of my projects to ensure we are targeting the right group of people with the right message through the best channels. Just spending money on a shopping list of collateral and tactics is not the wisest approach.

Alright, if you enjoyed that chat with Campbell, I suggest you go back to the chat I had with Campbell’s colleague and director John Meagher in episode 60 where we discussed approaches to a marketing strategy, the idea of being parachuted into an area without any digital back up and how you would make some sales, and his thoughts on why you should segment your audience, there is a lot of great stuff in that chat so be sure to take a listen.

Remember to contact me if you are interested in learning how to develop property safely and profitably, email [email protected] 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 tidbits. You can also post a comment on iTunes if you are enjoying the show, and of course all the past episodes of the show can be found at www.propertydeveloperpodcast.com

So, until next time may your next campaign be targeted and successful.

Links

Campbell Royston on Instagram - https://www.instagram.com/campbellroyston/Three Sixty Property Group – https://www.360propertygroup.com.au

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.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcastProperty Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

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 [email protected] 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.

LINKS

Pace Development Group - https://pacedg.com.au

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.

Property Development Training

If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.

So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...

Property Developer Quiz

Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…

Become a Million Dollar Property Developer

Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.

In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.

Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.

This book has the answers for how you can make the leap into property development. Grab your copy now.

Social Connection

Property Developer Podcast Facebook – https://www.facebook.com/propertydeveloperpodcastProperty Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcast

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:

47 – Getting 200 people lining up to buy your property development (part 1)

48 – Getting 200 people lining up to buy your property development (part 2)

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.

Social connection

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.

Link

Three Sixty Property Group - https://www.360propertygroup.com.au