Property Developer Podcast

Getting the sales and marketing right for your project can be the difference between a flying start or the project going stale. So today on the show we are going to be talking project marketing with some great tips and ideas on how to market your next development.

My guest is Heath Thompson from Beller Project Marketing, Heath specialises in selling off the plan projects, and he brings a unique perspective to selling projects having come from a family that does property developments, and Heath has a completed a number of his own development 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

Property development podcasts

Now, if you are like me, then you are forever interested in finding out as much information about developing as you can, and you probably like listening to podcasts. I originally started this show because I wanted to share the conversations I was having with developers, and there were no regular podcasts about property development. Since then a number of podcasts have kicked off which cover developing, so I thought I would share them with you, so you can check them out if you are interested.

So there are four podcasts that I am aware of about developing and they are:1. The Business of Property Development by former guest Shane Hiscock2. The Constructive Finance Podcast by another guest Dan Holden3. Development Ready podcast by the boys at DevelopmentReady.com.auand 4. the newest kid on the block, called City Shapers by the publishers of the Urban Developer website

There is also a short 10 part series on property development by the Business Concepts Group called Property Development Podcast Show, which outlines the process of developing and some key things you need to consider along the way. You can find all these shows through the Apple podcast app, or your favourite Android podcatcher, otherwise check out the websites for each of the shows and happy listening.

Off the plan marketing with Heath Thompson

Alright, on to today’s guest, Heath Thompson from Beller Project Marketing, Heath specialises in selling off the plan projects, and he brings a unique perspective to selling projects having come from a family that does property developments, and Heath has a completed a number of his own development projects.

I am always interested in the marketing side of a project, as I think it is fun to bring a site to market and see how it is received by prospective buyers. There are also lots of colourful and dynamic tactics you can use to attract interest and arouse emotions.

In this conversation we cover some of the timeless marketing tactics that you should still be using, how you can get out in front of other developers and a different way to develop a buyer profile. We even discuss how to value a quarry! I think you will enjoy this conversation.

Tips for real estate developers

I think Heath shared some good insights into how you can approach marketing your next development. There were a couple of things that stood out for me, including:

1. Develop avatars or buyer profiles to help sell off the plan

Figuring out who your likely buyer will be is a great way to consider what will appeal to them, and then lead you to develop materials that will attract them to your campaign. Heath gave the example of retirees or people moving out of the family home and into an apartment, he said they would be thinking about spending time with their kids over dinner, or having grandkids stay over, or may have nice pieces of furniture they are bringing so larger bedrooms may be appealing. Whatever you think they may want or like that your project provides can then be incorporated into the campaign materials. That may be a graphic of a 6 seater dining table on the floor plans, or a king size bed in the master bedroom. All these things can feed into the idea that their needs have been thought, and you have been thinking about how they might live. So it is moving beyond simple lifestyle amenity in the local area.

2. Have a great property development team

This comes up regularly, and I think as markets soften, it will become more important to differentiate yourself from the competition, and the members of your team should be able to give you ideas and suggest details that will help give you an edge or provide more value to buyers. Having a team of quality people, be it the builder, architect or interior designer, is also a great way to build up confidence with prospective buyers. If you are using trusted brands or good quality people, it can present a winning team to the market, and it may put you in front of the competition.

3. Take a step back and look at the bigger picture

I think this is wise advice, and some times when you are deep in a complex issue or trying to solve a seemingly insurmountable problem, you can’t see a way out or your view of the world is clouded. At these times it pays to pause, take a step back and think about a grander scale, or reflect on what your mission and purpose is. Getting some perspective and breaking out of the bubble can help you refresh your approach or discover a solution. Having trusted advisers and sources is a great way to sound out ideas, talk about the problem and figure out a response to the situation.

Don’t forget to email me if you are interested in learning how to become a property developer. And if you enjoyed that conversation about marketing then check out some other past episodes of the show, such as episode 39 with marketer Tim Reid (http://propertydeveloperpodcast.com/2018/01/31/39-how-marketing-can-take-your-property-developing-to-the-next-level/), or discover how to harness the power of visual imagery with Stan Zaslavsky in episode 16 (http://propertydeveloperpodcast.com/2016/06/16/secrets-of-powerful-visual-imagery-that-helps-sell-off-the-plan-property/)

You can also see all my latest property development photos and videos on Instagram (https://www.instagram.com/property_developer_podcast/)

Until next may all your marketing be helpful and emotional…

Links

Beller Project Marketing - https://beller.com.au/project-marketing/

Effectively managing a development project is a key skill for any property developer, but what happens when you delegate that responsibility to a development manager?

Today’s guest, Bryce Yardney is a development manager with Metropole Property. I spoke with his father, Michael Yardney in episode 36, go back and take a listen to that if you want to know how Michael got his property investment business going. Bryce is responsible for managing around 50 projects for clients so has lots of experience acquiring sites, getting permits and building product.

In this conversation we discuss common developing pitfalls to avoid, the foundational principles that will set up a project to succeed, and what happens when your builder goes bankrupt before completion.

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

Thanks to Bryce for sharing his stories and tips with me. It was interesting for me to hear how paying clients like to be involved with their projects, and some of the challenges that brings up, not unexpected challenges, just issues to be dealt along the way, like everything else to do with a development.

Here are three other lessons I took away from my chat with Bryce:

1. Outline the property development process and likely issues to prospective clients

If you are thinking of taking on board investors or working on behalf of someone else, it is a good idea to spend time educating them about the likely issues that will be faced, the timelines for getting things done, and other challenges that are bound to come up. I find that completing a project is never a straight line from buy to settle, there’s always lots of twists and turns along the way, so making people aware of that is helpful for when that inevitable curly issue pops up!

2. Don’t get emotional about the finished housing product

I can understand how an investor client may want to get deeply involved in choosing finishes, colours, material etc but as a professional developer it is wise not to lose sight of the bigger picture when speccing a property, and that’s coming up with a product that suits the market and sells at a price that allows a sufficient margin for your effort and risk. The product should be suited for the end buyer and user, not necessarily the developer or project sponsor.

3. Have good people on your property development team

Bryce mentioned that he has good people helping him manage the projects, and they are skilled at solving problems and getting things done. Having the right people around you will enable you to delegate more effectively and ultimately leverage your time so you can focus on the things that will take your business to the next level. I like to select good people and allow them to take charge and put their skills to work in their area of expertise , on the flip side, don’t be afraid to let people go who aren’t performing!

That’s just about all for this episode, if you want to hear from other developers about their journey so far try listening to episode 34 (http://propertydeveloperpodcast.com/2017/07/31/34-experienced-north-american-property-developer-shares-top-tips-for-success/) with architect turned developer Keith Miller, or episode 15 (http://propertydeveloperpodcast.com/2016/06/02/zero-to-40-million-worth-of-property-development-projects-in-five-years/) with Brisbane developer Shane Hiscock.

Links

Metropole Property - https://metropole.com.au/

Property Update - https://propertyupdate.com.au

Today on the show we are going to be talking planning, with a highly experienced planning consultant, and I think you will pick up lots of tips from our discussion.

My guest is town planner David Crowder from Ratio. David has more than 25 years’ experience in town planning.

He specialises in statutory planning and providing expert evidence before Victoria’s planning tribunal and Planning Panels forums.

And as you will hear, David was an expert witness we called in our failed VCAT case. So we share a few battle scars.

Planning is obviously a critical phase of a development project, and the outcome of a planning application sets the course for the project, so getting it right or at least getting an outcome you can live with, is extremely important. And I, of all people, fully understand that now.

David and I discuss why town planners are important, ways to avoid making planning mistakes, and lessons David has learned along the way about how to deal with councils and objectors, and the many other challenges that pop up along the way…

I hope it helps you to achieve a permit sooner on your next planning application.

In some ways I find the planning process a bit like dark magic, unless you are doing a simple cookie cutter approach to the site, with lots of precedence in the area, there’s a witches brew of ingredients that go into a planning decision and you never quite know how it might turn out. There are a lot of moving parts and a lot of variables, particularly the human emotions that may get stirred up. Anyway, here are three lessons I took out of my discussion with David…

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

1. Consider the strategic policy support and context of your site

This is the bedrock for how your application should be viewed by the council planner. If you are proposing something well outside the policy context for the site, then you will have little or no chance of getting a permit. But if you stay within the expectations of the policy you should be okay, though not always, as I found out the hard way. Unfortunately sometimes there are competing elements within a policy context such as encouraging growth but still respecting the neighbourhood character, and that’s where tension is created. And in our case, character won out…

2. Be aware of any proposed changes to zoning in your area

Planning zones seem to be pretty dynamic, and councils are forever tweaking and amending parts of their suburbs, so be aware of impending changes. This could impact on what you want to do, and how a council planner may consider your application. They may have one eye on the future state of the area, and informally assess your application through that lens. I know in our case, there was a change to the area’s zoning that came in after we submitted our planning application, yet the local councillor made mention to the planning scheme changes that came into play when knocking us back, and I think it also weighed on the decision by the tribunal member in supporting the council’s decision. So be ready to adapt to changes that may be coming.

3. Try to avoid ending up at a tribunal

Having picked up some scars and bullet wounds following our planning tribunal loss, my advice is to try and avoid going there if you can. In some ways it is a lottery as to the result you get, and it slows down your momentum and takes up time. That’s not to say that you should cede more than you are prepared to, but be aware of all the risks and costs. If you can, try to work with council to get a permit you can live with.

If you enjoyed that planning chat then delve into the archives and listen to episode 20 with town planner Craig Christie where he provides some planning tips for property developers, or episode 12 with developer John Marquez where he talks about his failed trip to the planning tribunal.

And you can see all my latest property development photos and videos on Instagram (https://www.instagram.com/property_developer_podcast/)

Links

Ratio: - www.ratio.com.au

Today on the show we are going to be talking marketing, with one of Australia’s leading small business marketing advisers, and I’m sure you will get plenty of value and ideas from the discussion we have.

Before we get to that, here’s an update on what I have been up to. In the last episode I mentioned that we had been to our tribunal hearing and we’re waiting on a decision. Well, we have received the ruling from the planning tribunal following our appeal against council’s decision not to grant us a permit.

So the tribunal decided to uphold the council’s decision. Which means we lost. The tribunal member decided that our proposal was too big, compared with the footprints of the neighbouring properties, our design didn’t match the neighbourhood character of the area, and there was insufficient meaningful landscaping.

It is obviously very disappointing to lose, we felt we had a strong case given the location and zoning, but the tribunal felt otherwise. So we have to take the decision on the chin and move on.

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 from a planning tribunal loss

It certainly was an experience going to the tribunal and I learnt a lot from it, some of the key lessons I learnt are:

1. The risk of confirmation bias.

I was confident that what we had proposed was acceptable for the location given the planning controls and strategic policy of the local council, and this was shared by all the consultants we engaged to advise us. They all believed what we had put forward was acceptable, and because it aligned with my own thinking, it strengthened my own belief. However, we were all wrong, but I am the one without the chair once the music stopped. I remember reading about how Jeff Bezos, the head of Amazon, also appreciates the risk of confirmation bias and forces the company to challenge its assertions and ideas to ensure they really are robust, and not just nice ideas that lots of people like. And it goes back to the adage of there being nobody who cares more about the project succeeding than you. So be aware of the risk of people telling you what you want to hear!

2. The significant impact a tribunal loss has on the momentum and timing of your business.

We have essentially wasted 18 months getting to this point. This is time we cannot get back. We are basically back at square one, looking at another 12 months minimum before we get a planning outcome, which is pretty frustrating, given how long it takes to bring a project to market and get it finished. This lost time leaves a hole in my future pipeline of works. The key lesson to be learnt from this is the importance of having multiple projects at different stages so that a set back in one project doesn’t derail your ability to consistently be progressing your business.

3. Appreciating the risk associated with property developing.

In this case I underestimated the planning risk of not achieving a permit. I did identify it as a risk when I was planning the project, but I felt our mitigation strategy would be to go to VCAT and succeed there. Obviously that didn’t work, so next time I may have to reign back my expectations on what is possible from a design perspective.

There are many more lessons that I learnt but those are probably the big three. As I mentioned, it is very frustrating to lose but we have to cop it on the chin and move on. Fortunately the market surged during our holding period so the land has gone up in value, so we aren’t facing the prospect of losing money on the project, but we have to decide whether we sell up and realise our profit early, or start again with a new planning application.

I will let you know which way we decide to go…

Marketing for Property Developers

Okay, on with the show, my guest today is Tim Reid, one of Australia’s leading advisers and commentators on small business marketing. Sales and marketing of a project is such a crucial piece that I wanted to speak with Tim about how property developers can take their marketing to the next level.

Tim is the host of a great podcast called the Small Business Big Marketing show, which you can find on the iTunes store, he is also the author of the book The Boomerang Effect, and his website at www.smallbusinessbigmarketing.com is chock full of helpful ways that you can grow your business through marketing.

In this discussion Tim and I cover some essential areas you should use in your marketing, one thing that will help you stand out in a crowded market place, and why some people fail at marketing.

Marketing lessons for property developers

I think good marketing is one way that you can help your projects stand out in a crowded market place, and this will lead to your stock being in demand which will help your business grow.

Here are three lessons I took out of my conversation with Tim:

1.Make marketing your hobby

Tim mentioned how the successful business owners he has interviewed on his show have all taken a keen interest in marketing their businesses. They all committed regular time to marketing, and found ways to make it fun and enjoyable. And let’s face it, it should be fun to promote what your business is good at. If you can dedicate just 30 minutes a day to your marketing, you might be surprised what results it will yield if you do it consistently over a year or two!

2.Be helpful in your marketing

In Tim’s book the Boomerang Effect, he outlines how you know so much about your industry, and the products or services you sell so you should share that knowledge openly and freely. And build a tribe of long-term, loyal customers. Become a helpful problem solver. Not a pushy marketer, and you will see your marketing investment multiply exponentially. Start thinking about the questions buyers may have and set about answering them on your website.

3. Use stories and emotions to create a connection

I know I keep banging on about stories and emotion, but it works and it’s powerful. So use them.

Okay, if you enjoyed that chat about marketing then check out episode 8 (http://propertydeveloperpodcast.com/2016/02/21/selling-out-your-property-development-project/), with marketer Ben Buxton who I mentioned in the discussion with Tim, if you want to learn how to sell out your next development project, or episode 24 (http://propertydeveloperpodcast.com/2016/11/02/24-how-property-developers-can-stand-out-in-a-crowded-marketplace/ ) with selling agent David Stewart about how you can stand out in a crowded market place.

You can also find all the past episodes of the show at www.propertydeveloperpodcast.comAnd you can see all my latest property development photos and videos on Instagram (https://www.instagram.com/property_developer_podcast/)

Until next may all your marketing be helpful and emotional…

Links

Tim Reid - Small Business Big Marketing website - https://smallbusinessbigmarketing.com

Nik Bulum is a Canberra based property developer who is delivering some amazing projects that are helping to regenerate some run down parts of the city. Nik has a slightly different pathway into developing, and this background is what helps drive his approach to his projects.

In this conversation we cover how design led projects can generate media interest and attract buyers, where you can look to find inspiration for your projects and how Nik tries to stand out from the crowd.

A couple of the projects we discussed have since been completed so check out Nik’s Facebook or Instagram feeds to have a look at them, I think they look amazing…

Now the sound quality of this interview is not as high as a I usually like, as we had some technical issues, however stick with it as Nik shares some absolute gold with us.

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 found my conversation with Nik really inspiring because here is a guy following his heart and delivering some really amazing projects. He’s being driven not solely by commercial imperatives but a desire to create something special and leave a design legacy in the area, and I really admire that.

Here are three points I took away from our chat:

1. Inspiration is a great pathway to follow

Staying inspired will keep you growing and keep the fire burning. By following your love and inspiration, you will remain fired up and interested and then I think it is inevitable that you will leave a mark on the design fabric of an area

Follow your heart and do what you love, love what you do and you will deliver projects that will inspire you and leave a legacy you can be proud of. And what can be more fun that working on an inspirational project?

2. Interesting design is a way to attract buyers

As Nik said, he attracted international media interest because his buildings were different and interesting. If you can stand out from the crowd, you will generate buyer interest, but be aware that you will also attract detractors and critics. Having an interesting design is a great way to influence and shape the character of an area, and you can find ideas in art, fashion, graphic design, music and much more. And why not put a piece of art in the landscape?

3. Find a good story for your project

Having a link to the local area or the history of the site is a great way to develop a emotional connection to your project. I’ve mentioned this a few times before, but human’s love good stories. Nik offered some suggestions on how you can create a story for your project including looking at the history, music, artists, and cultural icons can all inspire a story and a project

If you enjoyed that chat, you may like to revisit a couple of past episodes with property developers who are doing great things. There was episode 18 with Brendon Ansell, who has since taken his company public, and episode 27 with Canadian developer Dan Barona.

And you can see all my latest property development photos and videos on Instagram (https://www.instagram.com/property_developer_podcast/)

Until next may all your projects leave you feeling inspired and leave a legacy you can be proud of…

Links

Bulum Group - https://www.facebook.com/Bulum-Group-1572596402999330/

Video is a powerful way to share a story, and that power can be harnessed to help market and sell your property development project.

In this episode, we explore how to get the most bang for your buck when making videos.

Tracey Atkins from Goldeneye Media has produced some beautiful marketing videos for a range of iconic Australian and international properties, so I was keen to sit down with her and talk about how developers can harness the power of video to market and sell their projects.

I am a big believer in video and think it is a great way to connect with prospects and buyers to share the story of your project. And with the quality of cameras in smartphones these days it is easier than ever to produce some good quality video that can be quickly shared across a range of channels and social media platforms.

In this discussion with Tracey we talk about why video is a powerful way to share a story, what makes an irresistible video and things to consider if you are looking to produce some videos for your development project.

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 real estate developers

Tracey shared some awesome tips and ideas so you can either hire someone to make some videos for you, or things to consider if you are going to do it yourself.

Here’s three things I took out of our discussion:

1. Focus on emotion not function in property videos

This was a very good point that Tracey raised. I think it is easy to fall into the trap of focusing on function, and I see agents do this regularly, they highlight the number of bedrooms, bathrooms, car spaces or room layout. Instead, I think you are better off finding an idea that is different or the inspiration for the project and communicate that to prospects. Try and steer clear of the functional stuff, and answer those questions during a face to face sales presentation, and instead focus on what will delight buyers or future residents. Try and capture the mood or feeling people will have when they move into their new property, and this will give you a good place to start from. As this is what will make your video irresistible.

2. Go for production not perfection when making property development videos

Now Tracey produces some very beautiful videos with wonderful production values, but that is not necessary for every project. Consider your audience and what they would likely accept from your production values. I think it is better to go for production and not perfection. Get your phone out, shoot some video, whether it is site videos about how the construction is going, or interviewing the designer about the design intent of the building, or maybe just yourself explaining how the project is going. Getting content out there is a great way for prospects and buyers to get a feel for the project and start to develop a bond and trust with the development.

3. Tailor property development videos for the channel

I think you can stand out from the crowd by spending some time tailoring your videos for the channels or platforms you are going to show them on, as they are all slightly different with various frame sizes and audience habits. Whether it is Youtube, Facebook, Instagram, or others, try to create a video that suits the channel and the audience. And remember that mobile viewing is massive these days so give consideration to how your video may be viewed. And I would strongly suggest adding subtitles to videos so that people who may not have the sound turned on through their settings can still get a feel for what your video is about, as they scroll through their social media feeds.

If you enjoyed that chat about video, you may like to revisit a couple of past episodes about marketing. There was episode 8 with Ben Buxton, where we talked about how to dazzle and delight (http://propertydeveloperpodcast.com/2016/02/21/selling-out-your-property-development-project/), and episode 16 with visual artist Stan Zaslavsky covering the secrets of powerful visual imagery that helps sell off the plan property (http://propertydeveloperpodcast.com/2016/06/16/secrets-of-powerful-visual-imagery-that-helps-sell-off-the-plan-property/).

Links

Goldeneye Media - https://www.goldeneyemedia.com.au

Creating independent wealth is a great way to ensure your financial security is taken care of, and property development can be great way to leverage your capital, however how do you attain financial wealth?

In this episode you will find out how property developer, investor and educator Michael Yardney has done it.

Michael, is one of Australia’s best known property commentators and investment adviser, he has written eight books on property investing and wealth creation, and publishes a lot of content about property investing.

You can find out more about him at michaelyardney.com or Metropole.com.au

Although Michael is well known for property investment advice, it was through property developing that he took his wealth and business to the next level, and he is still an active developer today, and also provides a developing service for his clients.

In this discussion we talk about how Michael got into developing, what has changed in property over the decades, and what he has learnt along the way.

It was exciting to hear how Michael has grown and diversified his property business over the years and decades. There was plenty of wisdom shared in that discussion, and here are a couple of things that stood out for me…

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 Real Estate Developers

1. Can you hold onto any of your stock to help grow your asset base?

As Michael said, he’s seen many developers go bust without any assets to show for all their years of work, and I know it is challenging to hold stock when developing is so cash intensive, but how often do we see the value of our finished stock jump up significantly over the short, medium and long term? I understand where Michael is coming from, and building up a foundation of solid assets that can support you later in life is certainly something worth considering…

2. Are you taking steps to continually educate yourself?

I liked how Michael said mentors don’t need to be people you meet face to face. You can find mentors in books, or via blogs, or in groups. Continually educating yourself is a great way to keep your brain active, learn new techniques and stay ahead of the pack. So I’d encourage you to find some ways to keep evolving and learning.

3. Have you considered your long term future?

Leading on from the point abut holding stock, it is helpful to consider what you want your life to be like in the longer term, and then having a plan to get there. It is wise to have a destination in mind and then you can begin working towards it. Developing and creating value for 15,20,30 years and then going bust on a project which leaves you with nothing would be heartbreaking, so give some consideration to putting away 10 percent of your profits on each project into a super fund or other long term investment, to provide a cushion for your retirement.

If you enjoyed hearing about Michael’s journey through property developing, you might like to go back to some past interviews with other developers, like New Zealand based developer Graeme Fan who I spoke with in episode 29, or Brendon Ansell who this year took his developing company public, I chat with him in episode 18.

Don’t forget to join me on Instagram (https://www.instagram.com/property_developer_podcast/) for my latest videos and photos.

Links

Michael Yardney's personal site - michaelyardney.com

Metropole Property Group - metropole.com.au

Making your money work harder can sound like a cliche but in such a capital intensive business as property developing, it pays to look at ways to recycle your money quicker and generate higher returns.

So I speak with Australia’s number 1 commercial finance broker Dan Holden about how you can leverage your money and time. It’s been more than a year since we spoke with Dan and a lot has happened across the lending landscape in that time, and with Dan’s business, so we have a lot to catch up on.

During this discussion we talk about what’s happening with construction finance lending, where sources of funding are coming from and ways that you can make your capital work harder for you.

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

1. Have you identified your business model

Do you know what type of developing business model you have? Do you build townhouses, apartments, house and land packages? What’s your profit margin per unit? How many units do you need to produce each year to generate the revenue and profit you want? Are you looking to switch categories? These are all questions that would be good to have answers to because once you understand what you do, you can set about on making it happen.

2. Are harnessing the power of your capital

Making your money work harder can sound like a cliche but in such a capital intensive business as property developing, it pays to look at ways to recycle your money quicker and generate more returns. This may mean looking beyond traditional bank finance, looking beyond project to project and also beyond the cheapest funding out there. This might be a significant shift in thinking as you move from cheapest money to a model that may create a higher velocity of cashflow.

3. Be ready to change and adapt to the marketplace

The property market is always going to be dynamic, the economy will ebb and flow, sentiment will change, and regulation and policies will flex, so you can count on change. A change in the market can be an opportunity to switch product offering, move into different sectors or perhaps a new market all together whether that is interstate or overseas. So give some thought to what moves you could make if things tightened up in your segment of the market.

Alright, we are just about at the end of episode 35, don’t forget you can find me on Instagram (https://www.instagram.com/property_developer_podcast/) and Facebook (https://www.facebook.com/propertydeveloperpodcast), and remember you can find all the past episodes of the show over at www.propertydeveloperpodcast.com. You can listen to the previous conversation I had with Dan Holden, which is episode 14 (http://propertydeveloperpodcast.com/2016/05/20/clever-property-development-funding-tips-from-a-leading-finance-broker/), and if you want more finance tips then tune into episode 28 with Matthew Royal (http://propertydeveloperpodcast.com/2017/02/10/28-property-development-finance-for-serious-developers/).

Links

Holden Capital product guide - the 2017 winter product guideHolden Capital website - www.holdencapital.com.auConstructive Finance podcast - http://www.holdencapital.com.au/podcast-2/

Understanding the local market means more than just the sales activity for the area, it includes being aware of any nuances related to the planning process or how long it might take to even get a permit.

In this episode I speak with a trained architect turned property developer Kirk Miller. Kirk started off his developing career in California before taking on some projects in Canada. Kirk brings an interesting perspective to the table because of his design background and also due to the challenges of developing in a place like San Francisco which presents physical constraints as well as social ones.

In this discussion we cover the key lessons that Kirk has learnt in his career, the power of timeless design and how development works in the North American markets.

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 Real Estate Developers

I thought it was fascinating hearing about the similar and different challenges that Kirk faces being a developer. Having recently wandered around San Francisco I can see the physical constraints of the place, being very hilly terrain in many areas, but also hearing about the political and social constraints that make it hard to get permits to develop profitable projects. Which is interesting given the housing pressure the city is facing. In many ways it reminded me of the challenges Melbourne faces, but we certainly don’t have the physical constraints of San Francisco.

Here are a couple of points I took away from my chat with Kirk.

1. Understand the approval process of your area

Kirk talked about how involved the local community is in the planning process in San Francisco. This requires developers to fully engage with the people who live in the area. By understanding this you can set your timeframes accordingly and be aware of what you will need to go through to get approval, whether this is pre-application meetings, community consultation sessions or public feedback periods. You can then allow sufficient budget for re-designs or adjustments, and allocate the right time for actually getting an approval.

2. Explore how innovation can get you ahead

Kirk discussed how certain types of innovation can turn an ordinary project into a great one. Whether that is design innovation or financial innovation. Kirk mentioned how he found a creative solution to a waste issue that helped get his project a permit. So explore how you can find the right people who can really help take your project to the next level, and this really involves getting out and talking to people in the industry to find out who the best practitioners are in the field. If you keep digging you will eventually unearth the gold!

3.  If you wanna be a pro then act like a pro

So finally, if you want to be a serious developer then you need to act like a professional developer. Do your due diligence on possible sites, have the right people in place on your team, follow a process to ensure you get consistent results, and take your developing activities seriously. The people you deal with when you are doing a project, or looking to get a project started, will quickly be able to determine if you are serious or not, so if you want to be an elite developer, best start acting like one!

Remember you can catch me on Instagram at (https://www.instagram.com/property_developer_podcast/) for my latest pics and videos.

You may like to go back to my two part discussion with developer Dave Bradley, in episodes 21 & 22 ( http://propertydeveloperpodcast.com/2016/08/30/moving-from-major-rental-property-investor-to-serious-property-developer/ and http://propertydeveloperpodcast.com/2016/09/08/22-why-property-developers-should-understand-the-velocity-of-money/), to learn about the velocity of money and becoming a serious property developer.

Thanks again for listening in, and until next time ‘may all your projects achieve better results than you expected…’

Links

Kirk Miller's website - www.kirkmiller.net

Wouldn't you love to always negotiate great deals. Secure that awesome parcel of land at a great price and on great terms. Get a buyer to pay top dollar for one of your properties.

Well in my discussion with former FBI hostage negotiator, Chris Voss, you can learn how to do all those things and more.

Chris has written a book called Never Split the Difference, a fantastic resource that I highly recommend you buy and read. It is filled with practical ways to negotiate better deals and is coupled with incredible hostage stories and real life examples of how to apply the ideas in the book.

And they really do work, as I have been road testing them over the past few weeks, which will be covered in the conversation Chris and I have. And there is one amazing line you can use to resurrect dormant opportunities, keep an ear out for that one. The book really is worth getting and easily sits in my top 10 business books.

Negotiation is so important for property developers

In this discussion we cover some incredible tips on dealing with selling agents, the biggest mistake most people make when negotiating and how ‘no’ is a very powerful way of framing discussions.

This is a fascinating conversation, so get your pen and paper ready, and let’s hear what hostage negotiator Chris Voss has to share about negotiation…. 

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

Top Lessons for Real Estate Developers

There were so many great points that Chris made, but here are three things that I learnt from speaking with Chris and reading his book:

1. Have a plan before you start your next big negotiation

Over the past few weeks I have been doing some preparation before I begin a negotiation, so I figure out what the outcome is I want, I have some key questions I want to ask, some tips on things to do like mirroring and labelling, and I have found it to be very effective. Having a plan of what you want to achieve and a simple map of getting there, will surely lead to better outcomes more often. In the back of Chris’ book he provides a framework for mapping our your negotiation discussions. That alone is worth the price of the book.

2. Don’t be afraid of ‘no’

I have to admit that before I read Chris’ book that I tried to avoid no’s, but now I can see that they can be very powerful, and that there is a big space between ‘no’ and ‘yes’, No provides security and cover for people, and if you know that you can begin to work from there. Getting a no actually helps to provide some boundaries and guidelines for how to progress the discussion. So don’t be afraid of no!

3. Try some of the techniques

I really recommend you buy the book and practise the techniques that Chris points out, some of them, like asking people if they have given up, seem counter intuitive but they work.  And you can try them on smaller scale negotiations, like I did when buying some new dining chairs. I really think you are doing yourself a disservice if you don’t buy Chris’ book, as your competitors and counterparts will, and they will be in the drivers seat on the next negotiation.

Don’t forget you can find me on Instagram (https://www.instagram.com/property_developer_podcast/) and Facebook (https://www.facebook.com/propertydeveloperpodcast).

Links

Chris' book Never Split the Difference - https://www.amazon.com/Never-Split-Difference-Negotiating-Depended/dp/0062407805/ref=sr_1_1?ie=UTF8&qid=1499328237&sr=8-1&keywords=never+split+the+difference

Black Swan Group - blackswanltd.com