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No two property development projects are ever the same. Each project throws up its own challenges and opportunities. Lessons learned from each project can help to avoid or overcome issues faced on future projects.
Taking the lessons learned from past property development projects can help ensure more efficient projects in the future, and provide a foundation of experience to help solve other problems.
Today’s guest, Matt Campbell from Kyabel, is currently delivering 17 small scale projects and shares some of the key lessons he has learnt along the way.
Matt has a background in delivering IT projects so brought his understanding of project management and problem solving to his property development career. He is currently delivering residential projects across south-east Queensland. Matt is involved with all stages of a project from site acquisition through construction to completion.
In this discussion we cover:
– how a change in thinking helped him take his developing to the next level
– a key lesson he learnt about raising capital; and
– how branding can give power to your development projects.
Keep an ear out for a niche project that Matt is itching to get started on…
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.
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/propertydeveloperpodcast
Property Developer Podcast Instagram – https://www.instagram.com/property_developer_podcast/
Property Developer Podcast LinkedIn – https://www.linkedin.com/company/property-developer-podcastLinks
Links
Kyabel – https://www.kyabel.com.au/
Episode Summary
In this episode, host Justin Gehde interviews property developer and consultant Matt Campbell. Matt has been in the property development industry for over 35 years and has worked on a wide range of projects, from small-scale residential developments to large commercial developments. He shares his insights on the lessons he has learned from managing multiple small-scale property developments throughout his career.
Small vs large property developments
The episode begins with a discussion of the benefits of small-scale property development. Matt explains that small-scale developments are often easier to manage than larger developments and can be a good way for developers to gain experience before moving on to larger projects. He also notes that small-scale developments can be more profitable than larger developments, as they often require less upfront investment and can generate a quick return on investment.
Key lessons from small scale property developments
Matt then shares some of the key lessons he has learned from managing small-scale property developments. The first lesson he highlights is the importance of having a clear vision for the development. Matt explains that developers need to have a clear idea of what they want to achieve with the development and what type of properties they want to build. He emphasizes the importance of doing thorough research on the local property market and understanding the needs of potential buyers before starting a development.
Have the right team
The second lesson Matt shares is the importance of working with the right team. He explains that property development is a team effort and that developers need to work with a range of professionals, including architects, engineers, and builders, to ensure the success of the development. He emphasizes the importance of finding professionals who share the developer’s vision and can work collaboratively to achieve the desired outcome.
Matt also highlights the importance of communication in property development. He explains that developers need to communicate clearly with their team members, stakeholders, and potential buyers throughout the development process. He emphasizes the importance of being transparent about the development’s progress and any challenges that arise.
Managing risk in property development
Another key lesson Matt shares is the importance of managing risk in property development. He explains that developers need to be aware of the risks associated with a development, such as changes in the local property market or unforeseen construction issues, and have a plan in place to mitigate those risks. He emphasizes the importance of being proactive in managing risks and being prepared to adapt to changing circumstances.
Keep an eye on quality
Matt also discusses the importance of maintaining a focus on quality in small-scale property development. He explains that developers need to prioritize quality over quantity and ensure that the properties they build are of a high standard. He emphasizes the importance of paying attention to detail and using high-quality materials and finishes to create properties that buyers will be willing to pay a premium for.
Finally, Matt shares some tips for aspiring property developers. He emphasizes the importance of doing thorough research before starting a development and seeking out the advice and expertise of experienced professionals. He also encourages developers to start small and gain experience before moving on to larger projects.
