Property Developer Podcast

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...

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

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 [email protected] 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.

Links

http://faveladevelopment.com

Can you imagine selling a property worth a billion Australian dollars? It would be pretty amazing, right!

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 protected] 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…

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 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.com/2017/07/06/33-former-fbi-hostage-negotiator-shares-tips-on-negotiating-better-deals/), and listening to the many nuggets of gold that he provided around negotiating and securing better deals, including this advice about how to be an active listener. There really was a lot of great tips in that discussion with Chris, so I certainly think it is worth your time revisiting episode 33.

Okay, don’t forget to email me if you are interested in being mentored on how to develop property, drop me a line via [email protected] and I can send you some information on the program.

Also catch me on Instagram and Facebook for my latest news and videos under Property Developer Podcast, and you can also post a comment on iTunes if you are enjoying the show.

So, until next time, may you one day make a billion dollar property deal.

Links

Icon Global - www.Icon.Global

Sale of W.T. Waggoner Estate Ranch - https://www.icon.global/w-t-waggoner-ranch

Quite often people who work in the property industry are keen to move into property development and have a crack at being the developer. Today, as part of International Women's Day (a big hello to all you female developers and women in the property industry), I am speaking to two females who have a consultancy providing services to large property development clients and they are also in the process of delivering their own luxury apartment project.

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 [email protected] 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.

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 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. It is usually better to focus on the future, not the past, and have faith in your vision about why you are a property developer.

Alright, if you enjoyed that discussion with Olivia & Sonya, then why not go back and take a listen to episode 55 where I speak with  Jennifer Macquarie about what she has learnt  from being a second generation property developer running her family’s developing business. There is plenty of gold in that interview, so be sure to take a listen.

Remember to drop me an email if you are keen to learn how to develop property safely and profitably, my email is [email protected]

Catch me on Facebook (https://www.facebook.com/propertydeveloperpodcast) and Insta (https://www.instagram.com/property_developer_podcast/) for my latest news and updates, and if you are looking to be a friendly fan drop a comment on iTunes.

So, until next time, may you stay true to your vision and heart…

Links

Armitage Jones - http://armitagejones.com.au

Dynamic Property Group - https://dynamicpropertygroup.com.au

The current property and finance markets are very dynamic, which creates uncertainty and opportunity. To give you the latest update on the lending landscape and an outlook for 2019, I speak with two very experienced financiers about what to expect.

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.

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

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, [email protected] to find out more about the property developing mentoring program.

Links

Holden Capital - http://www.holdencapital.com.au

Finding a niche market has always been an angle that can help you get an edge on the market, but how do you discover what that niche is and what they want? We will explore this question and more as we speak with second generation developer Jennifer Macquarie.

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.

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

Here's a couple of things I took away from my conversation with Jennifer.

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 protected] 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...

Links

Fountaindale Group - http://www.fountaindale.net.auJustin's walkthrough of his latest project - https://youtu.be/UzpwHAA949Erealestate.com article - https://www.realestate.com.au/news/is-this-melbournes-most-ott-sales-pitch/

Many people want to be successful, but success means different things depending on what you consider success to be. Getting clear on what you want to achieve in life will help you feel energised, inspired and fulfilled, so here’s a way to plan out your life.

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.

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

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 protected] 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 dreams.

Links

Mojo Master - www.themojomaster.com.au

The Defiant Ones - www.imdb.com/title/tt6958022/

In this episode we wrap up the conversation with seasoned developer Don O’Rorke. Don 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.

If you missed the first part of the discussion go back to episode 52 and catch up, as Don shared a lot of gold with us about how he got started in the business, the key projects they did along the way and lots of tips on succeeding at developing.

In part 2, we continue talking about the lessons learned along the way including the importance of identifying and mitigating risks, adapting to the current credit market, and some of the projects that didn’t go according to plan. Don will also share a tale of a $200,000 cheque and why it is an important reminder to avoid legal litigation.

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

I hope you enjoyed that conversation with Don, as I certainly did. It goes to show what you can achieve with some ambition and determination. I got a lot out of my chat with Don, but here’s three things that really stood out:

1. Clearly identify your property development risks & mitigate them

Don was pretty clear around the importance of managing risk through the development cycle. He said that each stage has risks and mitigation measures. Here’s some examples that Don suggested:

1. planning risk - mitigate that by getting a permit 

2. delivery risk - mitigate that by appointing a good builder on a fixed price contract

3. take out risk - get some pre sales or pre leases in place, and make sure they stack up with professional valuations and

4. capital risk - put in place measures to ensure you have debt & equity pieces in place.

By identifying your risks and figuring out some measures to off-set them, you can go into a project with confidence that you have thought strategically about what you are doing.

2. When times are good property developers can get sloppy

Don said that the projects that didn’t go well tended to start during buoyant periods when people get exuberant. So his advice was to stay laser focused on risk. Don’t forget about sticking to your system and staying balanced in your assessment of projects. Don commented how often the big risk is in the tail of a project, so the last 20% when you are trying to sell those final apartments or lease those remaining shops, can be the difference between success and failure. Don also suggested that you take heed of the lessons you have paid for when things don’t go according to plan, so you don’t make them again in the future.

3. What is your property development business strategy

One thing Don said he would change if he could go back in time is to change the business strategy from build and trade, to build and hold, due to the power of the rising market. So consider which strategy you are going to employ and figure out what you will need to achieve it. How much capital and equity will you need? Don’s business now has a balance of both, so they do residential developments for build and sell, which fund the shopping centre projects for develop and hold. Give some thought to your strategy and how you can make it work.

If you enjoyed that discussion with Don O’Rorke, and you want to know a little more about strategic planning for your development business then you may want to jump into the archives and take a listen to episode 44, where I speak with developer Byron Sakha about what it means to be a strategic developer. I am sure you will get some value from that episode, so go back and check out episode 44 (https://propertydeveloperpodcast.com/2018/05/24/44-strategic-planning-for-property-developers/).

Don’t forget to email me if you are interested in learning how to become a property developer [email protected]

And check out my Instagram (https://www.instagram.com/property_developer_podcast/) and Facebook (https://www.facebook.com/propertydeveloperpodcast) pages for my latest developing videos, photos and news at Property Developer Podcast. I have posted the video of my trip to Soweto on the Facebook feed, and it is worth checking out to see how some people live.

So until next time, may all your development risks be mitigated…

Links

Consolidated Properties group - https://www.consolidatedproperties.com.au/

Don O’Rorke - https://www.consolidatedproperties.com.au/people/don-ororke/

Does the idea of creating a multi-billion dollar property company sound exciting? How do you create one? We speak to someone who has done just that, and we find out how he did it.

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 protected] to find out about the mentoring program that is available to help you get started on your journey to becoming a successful property developer.

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 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 another Brisbane based developer, Shane Hiscock, about his rise from IT guy to full time developer. Shane has been partnering with investors to help grow his business. There is lots of great stuff in that chat with Shane so delve in to the archives and enjoy episode 15.

Don’t forget to email me if you are interested in learning how to become a property developer [email protected]

So until next time, may you be bold, ambitious and curious with your developing career.

Links

Consolidated Properties Group - https://www.consolidatedproperties.com.auDon O’Rorke - https://www.consolidatedproperties.com.au/people/don-ororke

The key to selling out your development project is finding buyers who are looking for what you are offering. Finding the right buyers' involves marketing activities designed to attract interested people. Generating and nurturing those leads is key to the sales success of your project.

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.

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

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, [email protected] 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.

So, until next time, may you nurture all your leads to a conversion!

Links

Apartmentdevelopments.com.au

Houseandlanddevelopments.com.auDevelopmentid.com.au

The sands of development funding are always shifting, and never more so than recently, so today we are going to be talking finance with past guest Matthew Royal.

He is going to give us a round up of the current lending landscape and what is happening with development finance.

Just before that, you may recall in episode 48 where I spoke with Andy Hoyne about how to get 200 people lining up to buy stock in your next development project, that we offered a copy of Andy’s beautiful book the Place Economy, valued at $200, to anyone who could suggest a great case study of a project that had made a big difference in the local community.

I did receive a number of examples from listeners and Andy has selected a winner… so the winner is… drum roll please. Larry Li who sent in a great development project in Auckland New Zealand called Hobsonville Point.

It is a significant redevelopment of an old air force base that is being slowly developed to provide more than 4500 new homes, of different types and price points.

It was a great case study and here is a link to the project’s website, which is hobsonvillepoint.co.nz . So congratulations Larry, enjoy the book, and thanks again to all the people who sent in suggestions.

Just quickly before we move on with the show, if you are interested in learning how to develop property safely and profitably, then email me [email protected] to find out about the mentoring program that is available to listeners of the show.

"At the moment there is more non-bank capital than qualified deal flow." Matthew Royal.

Okay, on to today’s guest finance expert Matthew Royal from Property Development Partners, who is also a past guest of the show, he featured in episode 28. In that episode we talked about building up a pipeline of works and how banks assess risk.

Matthew has a long association with development finance and I wanted to speak with him about the current lending landscape and what developers are facing with getting finance for their projects, as a lot has changed since our last chat.

In this conversation we discuss what’s happening with the banks, how developers are still obtaining development funding, and some tips on how to manage the current credit conditions.

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, an update on how things are looking out there in funding land. It certainly sounds like things have turned in terms of availability of credit and many developers are looking at alternatives to simple senior debt funding from the banks. Here are a couple of things I took away from my chat with Matthew.

1. Banks aren’t lending to new clients

So if you don’t have an existing relationship with a major bank it seems you may have trouble securing a loan with them. This has meant that many developers are exploring alternative funding options and residual stock loans, which may come at a higher cost than what they had originally planned for in their feasibilities. So my advice is to start discovering what options and costs you may need to include in your next project feasibility.

2. Look at your marketing, sales, and finance strategies

With the current lending landscape, how are you going to tackle the existing conditions. Do you need to review how you are planning on marketing your properties, is your sales campaign right for where the market is headed, and how accurate is your funding strategy? As the market moves, it is prudent to monitor and update your project plan.

3. Seek early input from your trusted advisers

As the funding sands seem to be frequently shifting, it would be wise to speak with your advisers about what’s happening, how your project may be viewed by lenders and how you plan on securing funding to get your project delivered. Early and ongoing discussions can avoid nasty surprises later which may slow down your development and eat into your bottom line.

Alright, we are almost done for another episode. If you enjoyed that chat with Matthew Royal, then I suggest going back to our past discussion in episode 28 and listen out for the many tips and ideas that Matthew had on how to grow your development business. Including this gem of advice, which is still highly relevant today. There are plenty of other great tips in that episode so go back and take a listen.

And if you are interested in learning how to develop property then please send me an email [email protected] to find out more.

So until next time, may all your funding applications be approved…

Links

DF Partners - www.dfpartners.com.auCase study winner - www.hobsonvillepoint.co.nz