27 – Tales from a Canadian property developer

Developers face many challenges and obstacles, and Canadian developer Dan Barona shares some stories on his experiences developing property in Ottawa. Dan is a partner in developing and construction business Urbanworx, and has progressed from doing renovations to multi-property developments. We talk about the challenges of building during bitter cold winters, dealing with organisations that issue permits and the vagaries of the Canadian property market. 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 Here are three lessons I took out of our discussion. 1. There will always be obstacles to overcome It doesn’t matter what state, territory, or country your are in, there will always be challenges you will have to overcome with your developing, whether that’s dealing with councils, finding a site or determining the best product to build. So you need to anticipate these problems and solve them along the way. 2. Development costs need to allow for local conditions Dan talked about what is involved with building in Canada over winter, and having propane gas heaters, this is a good point about being aware of all your development costs and including them in your feasibility and project budget. Each area will have its own consideration and you may need to allow for rock removal if rock is known in the area, or extra costs for footings and foundations if the soil at your site is poor. 3. You can seek inspiration from international projects and developers Dan mentioned how he likes some of the projects being done by US developers and they inspire him, it reminded me that you can look further afield than your local market for ideas and ways to design and deliver projects. Are you looking abroad for great developers and exciting projects that can inspire you to try something new? In the age of Google and the internet it is ea...