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Making the transition to full time property developer is an aspiration for many people that get involved with small scale developments, but how do you make the leap across the chasm? We find out from developer Nolan Keenan about how he did it.
Nolan is from Aveline Property and has gone from starting out as a real estate agent before working in IT and then recently becoming a full time property developer. Nolan shares his story of progressing from a simple splitter project to now managing multiple medium density projects and setting his sights on going to even higher levels.
In this conversation we cover why he decided to do his first project in another state, how planning and COVID delayed his next project, and a great discussion about how you can transition into becoming a full time property developer.
Be sure to listen out for Nolan’s one key thing to understand before you jump into developing full time.
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 bonus programs called Raising Capital (learn the essentials around raising cash) and 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…
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.
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…
Social Connection
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Links
Aveline Property – https://avelineproperty.com
Show Summary
In the 101st episode of the Property Developer Podcast, host Justin Gehde explores the journey of transitioning from a small-scale property development project to becoming a full-time property developer. The episode features an insightful interview with a successful property developer Nolan Keenan who shares his personal experience, challenges, and strategies for making the leap from part-time to full-time property development.
Building a Solid Foundation
- Understand the Market: Gain a deep understanding of the property market, including trends, demand, and opportunities.
- Master Regulations: Familiarize yourself with the legal and regulatory frameworks governing property development.
- Start with Small Projects: Begin with smaller-scale projects to gain experience and learn essential skills.
Strategic Planning and Goal-Setting
- Set Clear Objectives: Define your short-term and long-term goals to stay focused and make informed decisions.
- Create a Business Plan: Develop a comprehensive plan that outlines your target market, funding sources, and growth strategies.
- Plan for Growth: Identify new markets, diversify your project types, and consider partnerships to expand your portfolio.
Financial Readiness
- Build a Financial Buffer: Ensure you have enough savings to cover living expenses during the initial stages.
- Cultivate Relationships: Connect with lenders, investors, and financial institutions to access capital for future projects.
Building a Strong Network
- Network with Professionals: Establish connections with architects, contractors, agents, and property managers for collaboration and opportunities.
- Seek Mentors and Peers: Learn from experienced mentors and engage with fellow developers to gain guidance and support.
Managing Risks and Embracing Challenges
- Conduct Thorough Due Diligence: Research the market, assess feasibility, evaluate financial risks, and make informed decisions.
- Prepare Contingency Plans: Have backup strategies in place to mitigate unforeseen challenges and adapt to changing circumstances.
By following these simplified points, aspiring property developers can lay a solid foundation, strategically plan their growth, ensure financial readiness, build a strong network, and effectively manage risks and challenges in their journey towards becoming full-time property developers.
