Have you ever wondered how to break into the world of property development without having your own capital?
In this two-part podcast episode, Moss dive into the inspiring journey with Mike Day from Apexx Development, who took a leap from the corporate world to real estate. Transitioning from the corporate world to property development requires research, education, and a shift in mindset. Investing time and resources into learning about the industry and building a strong knowledge foundation is essential for success.
Collaborating with experienced developers and assembling a competent team of experts improves project execution and attracts financial partners. Networking and developing relationships with potential investors are crucial steps in building a solid team.
Traditional bank loans may not always be available for developers with limited personal capital. Exploring alternative financing options such as private equity, joint ventures, and partnerships opens up avenues for funding development projects.
Get ready to gain practical insights into building a winning team, making strategic offers, and forming relationships with potential investors.
So, if you’ve ever wondered how to break into property development without a hefty bank account, this podcast episode is your golden ticket. Join us as we embark on an enlightening and conversational exploration of Mike’s incredible path to success.
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Episode Highlights:
- 00:00 Welcome to Helpmebuy Property Podcast
- 03:07 Transition From University to Property Developer
- 06:08 Getting Disillusioned in the Corporate Side of Things
- 12:18 The Importance of Valuing Time in a High-value Business
- 15:32 Developing Relationships With Potential Investors Over Two Years
- 21:44 Property Development is a Game of Structures and Finance and Those Who Can Do This Together Will Do Wonders
- 25:15 14 Bulls Road, Burraneer
- 30:51 Acquisition Numbers, Gross Revenue and Profit on Cost
- 34:20 The Little Intricacies of Building a Luxury Property
- 40:36 The Shortage of Comparable Sales in the Market
- 43:11 Funding Model and Due Diligence
