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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Antonia Patero (https://x.com/antonia_mdprjct), founder of MADD Project, a commercial real estate development management company. Antonia shares her journey from architecture to development and explains how her firm handles everything from concept to completion for large-scale commercial projects. In this episode, we discuss how development fees can misalign incentives and why understanding market data and financial structuring is crucial before engaging a design team.
Questions this Episode Answers:
- What is the transition from architecture to development like?
- How do development fees work in large-scale projects?
- Why can misalignment of incentives be an issue in real estate?
- What role does market data play in successful development projects?
- How can developers better structure projects for investors?
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This week we covered:
00:00 Highlights
00:44 Meet Antonia Botero: From Architecture to Development
01:27 Understanding Development Fees and Market Data
02:00 Comparing Commercial and Residential Projects
03:08 The Role of an Architect in Development
04:55 Market Analysis and Financial Structuring
07:10 Antonia's Career Journey and Starting Mad Project
10:44 Economic Incentives and Development Fees
20:35 The Million Dollar Team Dilemma
20:43 The Value of Project-Based Hiring
20:56 Challenges of In-House Teams
21:24 The Better Model for Managing Fees
22:59 Starting a Company in 2017
25:05 Navigating COVID-19 Challenges
26:58 Customer Acquisition Strategies
27:45 The Importance of Word of Mouth
30:25 Managing Projects Across the Country
32:23 Rapid Fire Questions
36:21 Final Thoughts and Contact Information
