72 – Lessons from large scale property development projects

Large property development projects have unique challenges, but some of them are familiar to what can happen on projects of any size. I'm talking with someone who has experience with projects that range in size and sector. As I record this episode, Melbourne has started stage 4 lockdowns to prevent the spread of COVID19, which means many businesses are closed and movement is severely restricted. So the kids are home from school and we don’t get to go out much. This certainly has been a strange year, and I hope you are managing to negotiate it as best you can. Fortunately, it looks like the residential construction sector will still be able to operate although at much lower levels which means work should continue on my site, but perhaps at a slower rate. I’m still waiting to find out exactly what it means from the builder. Otherwise, we had been making reasonable progress on site with earthworks underway to prepare the levels for the drains and foundations. I've posted a video update on Facebook and Insta if you want to check out how things are progressing. We have been having some issues with wet soil due to winter weather and that has slowed things down a little, but we will work through that. Not much to report on my other project as we continue to work through the construction documentation. "It doesn't matter what size the project is, each line item will have some risk associated with it." Don’t forget that if you are interested in learning how to develop, we have the mentoring program that is available to guide you through the development process and help you develop safely and profitably, email me, justin@propertydeveloperpodcast.com if you want to find out more. And thanks to the people that have sent me some amazing emails over the past few weeks thanking me for producing the show, I am very grateful for your support and I really appreciate you taking the time to let me know. And thank you for listening in. Without you there would be no point to the podcast. We’ve still got so much ground to cover with the show so keep listening as we learn the lessons from people across the industry. 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