So I speak with Matthew Royal from Development Finance Partners, a firm that works with developers to get their project funding sorted out. We cover a fair bit of ground in this discussion including how you can set yourself up to have a pipeline of projects to enable your business to grow, how bank’s assess risk and how you can take advantage of the opportunities that present themselves in any market.
Tips for real estate developers
Here’s a couple of points from our conversation that really stood out for me:
1. Set your own goals not the banks
This was a great point that Matthew made. Make sure you are getting advice from people who will help you achieve the goals and aspirations that you want, rather than a bank that is going to have different desired outcomes, probably far less than what you want. So talk with people who can develop a strategy about how you get to where you want to go, without going bust, and work with you to achieve it. I always think it is better to have good people on your team, with the right skills and mindset, who are more experienced than you, providing you are steering everyone along to where you want to go, as they will be able to overcome obstacles and help you realise your dreams.