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Getting your first development project underway is an exciting time. Until the wheels start to fall off and it looks ugly, what happens then? How do you turn things around and kick start a fledgling developing career that has stalled?
Baheer Komak really struggled to get some traction with his property developing and his first project, a small 3 unit site was almost a total disaster before he turned it around by changing course.
Baz is now running multiple development projects and has come a long way since selling his small business and making the leap into property.
In this chat we cover how mentoring transformed how Baz approached developing, some differences between project types and the unusual decision making process that led him to take up property developing.
This conversation will be inspiring for anyone that is struggling with a sticky project and wanting to take their developing to the next level, as Baz is an example of how you can go from zero to something significant in a few, short years.
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.
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…
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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.
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Episode Summary
In the 91st episode of the Property Developer Podcast, host Justin Gehde interviews property developer Baheer Komak from EQ Property Group on how to turn around a struggling property development career. In this episode, Baheer shares his insights and strategies for overcoming obstacles and building a successful property development business.
Top 5 points from the episode
- Identify the root cause of the problem
Baheer emphasizes the importance of identifying the root cause of any problem that arises in a property development career. He explains that without understanding the root cause, it is difficult to develop an effective solution. He encourages property developers to be proactive in identifying potential problems and taking action to address them before they become major issues. - Build a strong team
According to Baheer, building a strong team is crucial for turning around a struggling property development career. He emphasizes the importance of hiring people who share the same values and vision for the business. He also encourages property developers to delegate tasks to their team members and focus on their strengths. - Focus on your strengths
Baheer advises property developers to focus on their strengths and delegate tasks that they are not good at to other team members. He believes that this is crucial for building a successful property development business. He encourages property developers to be honest with themselves about their strengths and weaknesses and seek out team members who can complement their skills. - Learn from your mistakes
Baheer believes that learning from mistakes is an important part of turning around a struggling property development career. He encourages property developers to reflect on their mistakes and identify what went wrong. He advises them to take corrective action and implement strategies to avoid making the same mistakes in the future. - Be adaptable
Baheer emphasizes the importance of being adaptable in the property development industry. He explains that the industry is constantly evolving and property developers need to be able to adapt to changes in the market and the economy. He encourages property developers to be open to new ideas and technologies and to be willing to change their approach if necessary.
Turning around a struggling property development career is not an easy task, but it is possible with the right mindset, strategies, and support. The journey may involve taking a step back, reevaluating one’s strengths and weaknesses, seeking guidance from mentors or coaches, networking, and being open to new opportunities. It’s important to remember that setbacks and failures are part of the process, and learning from them can ultimately lead to success. With dedication, persistence, and a willingness to adapt, anyone can turn their struggling property development career into a thriving one.
