What do you do if your real estate development experience is limited?

The CEO of Ford land told me a long time ago that competence is the most important asset for a woman in commercial real estate. Find a space that will be critical to the industry, then build competence and a personal brand in that area.

Explore different sectors such as residential, commercial, or industrial, and identify areas where you have a particular interest or expertise. Specializing in a niche can help you stand out and build a strong reputation in that area. Research market trends and opportunities within your chosen niche and tailor your education and experience accordingly. Network with professionals already working in your niche to learn from their experiences and gain valuable insights. By focusing on a specific niche, you can leverage your strengths and interests to carve out a successful career path in real estate development.

Read. Read everything you can. Forge relationships in the industry. Then read more. Remember there is always a niche market. Your job is to find it and dig in.

Most important is to team up with people with experience. "Piggy back for what you lack". If you can't team up, start small to gain experience. This way, the chances of making very expensive mistakes are smaller. Once you gained experience, you can increase the complexity and scale.

There is a common beliefe in the industry that once you developed one tye of asset, you can develop anything. This is so wrong. Each type of asset requires a specific set of experience and knowledge, finding wich ones you have is a key step on defining your niche. This step should also be taken on defining your markets and locations

Aprender sempre faz parte do cotidiano de quem atua no mercado imobiliário. Participar de feiras do setor, workshops e principalmente, conhecer detalhes além do seu negócio, ex: funding, financiamentos, arcabou?o legal. Acima de tudo, a experiência prática e aprendizado colaborativo.

Education is second best way to acquire knowledge.The firt one is experience on the field. There are a lot of resources that can provide knowledge of the industry. Blogs, newsletters and courses are a great way to acquire knowledge.

Education is never ending and somebody always knows more. So Google everything, watch & listen and ask questions, even dumb ones. And finally get yourself a mentor. Good people will help good people.

If your real estate development experience is limited, consider investing in education and training to build foundational knowledge. Seek mentorship from experienced professionals for guidance and insights. Network with industry peers to expand your connections and opportunities. Gain practical experience through internships or entry-level positions. Start with smaller projects to build confidence. Collaborate with seasoned developers to leverage their expertise. Continuously learn and stay informed about market trends and regulations.

Knowledge is Empowering, Never stop Learning and surround yourself with people smarter than yourself on the topic you want to learn more about

One of the most important aspects especially when starting out. Accountants can advise on structures , tax and GST etc. Property lawyers can undertake legal due diligence on the site and prepare off the plan contracts and conveyancing. . Architects can design the properties. Town planners can assist with obtaining planning permits. Surveyors can prepare the plan of subdivision . Builders can do the construction. The list goes on .. etc etc

Building your network covers all 5, finding your niche through connections, educate yourself by learning from others, learn from their mistakes and get your start in real estate by connecting with people in it. To build your network, focus on supporting others. When they know you are there to support them, they’ll give to you naturally. Example support their social media efforts, offer to wingman events or set up events they are hosting, share your relative knowledge and connections.

Expanding your real estate development network through shadowing offers a practical learning experience and a unique opportunity to see the industry's inner workings. Approaching this with humility and a willingness to assist in any tasks not only enriches your understanding but also helps build rapport. Such engagements can lead to future business opportunities or valuable referrals, establishing you as a committed and collaborative professional in the field.

Start by attending industry events such as conferences, seminars, and networking mixers. Join professional organizations and associations related to real estate development, such as the Urban Land Institute (ULI) or the National Association of Home Builders (NAHB). Participate in online forums and social media to connect with professionals in the field. Reach out to colleagues, mentors, and other professionals in your network for introductions and referrals. Consider joining local real estate investment groups or development clubs to meet like-minded individuals and expand your connections. Finally, don't underestimate the power of one-on-one meetings and coffee chats to foster meaningful relationships within the industry.

You will need to work with various professionals, such as architects, engineers, contractors, lawyers, accountants, brokers, lenders, investors, and consultants. You will also need to connect with potential clients, partners, and mentors. Networking the most important part to build the brand awareness and spread the development name every where.

Focus on smaller-scale ventures. This strategy entails seeking low-risk, low-cost opportunities that facilitate entry into the market. Starting small allows for gradual learning, risk mitigation, and the establishment of a favorable track record, making subsequent financing endeavors more viable. People often advocate for starting small due to its potential to minimize financial risks and foster sustainable growth, offering a pragmatic approach for aspiring developers to navigate the complexities of the real estate industry.

My best partner was my wife wich supported me as a real estate developer. You don’t need external investor. Start with a smaller project. The day will come when you have enorme power to do the bigger project.

Starting small is often the best approach for aspiring real estate developers who are navigating the challenges of finding and financing their first project. By beginning with smaller-scale endeavors, such as residential renovations or small commercial properties, you can gain valuable experience and build a track record that lenders and investors find appealing.

Begin your real estate journey with modest projects that match your expertise and resources. My own experience taught me the importance of starting small; it allowed me to learn the intricacies of the industry without overwhelming financial risks. As you gain confidence and experience, you can gradually take on larger developments.

Starting small and seeking validation of a business idea in terms of an MVP oder a proof of concept is more difficult in real estate than in other sectors. Real estate is always capital intensive. What I would recommend is working with a partner or two to get started on a small level - ideally with a mentor at your side.

Learning from mistakes and failures is crucial for growth as a real estate developer. Reflecting on past experiences allows you to identify areas for improvement and refine your strategies. Whether it's a project that didn't meet expectations or a decision that didn't pan out as anticipated, each setback presents an opportunity to gain valuable insights. Analyze what went wrong, understand the underlying factors, and use this knowledge to make better-informed decisions in the future. Embracing failure as a learning opportunity fosters resilience and ultimately leads to greater success in real estate development endeavors.

Aprender de los errores a de los demás es importante para no cometerlos y siempre hacer las cosas mejores en tus proyectos inmobiliarios. Errores de interpretación de mercado, de dise?o arquitectónico o técnicos y financieros puede ser los errores más grandes que un desarrollados inmobiliario puede cometer en un proyecto

Apprendre de ses erreurs (car on en fait toujours) est essentiel, raison pour laquelle se faire entourer et conna?tre ses limites sont 2 attitudes impérieuses pour la continuité des affaires. Car dans la promotion immobilière, certaines erreurs peuvent être fatales à moins d'avoir de gros moyens.

Embrace failures as stepping stones to success in real estate development. Reflecting on my own mistakes has been crucial in my growth. Each setback provided invaluable lessons that I've used to refine my strategies and approach. By learning from missteps, you not only avoid repeating them but also gain insights that propel you forward.

Apprendre de ces erreurs comme dans tous métiers et progresser ce réinventer si nécessaire et ce remettre en question pour un avenir plus serein et s'ouvrir a d'autres opportunités si nécessaires pour évoluer et redémarrer sur de nouvelles bases plus solides et pour éviter de recommencer les mêmes erreurs.

I think that construction developers have to pay a lot of attention on market analysis especially when they study a project far of where they usually work. In my life I have seen a lot of time this type of mistake.

When you're new to real estate development, maintaining a positive and present mindset is crucial. Firstly, focus on embracing each learning opportunity as a chance to grow and improve. Stay present by setting achievable goals and breaking down tasks into manageable steps. Celebrate small victories along the way to keep motivation high. Additionally, surround yourself with a supportive network of mentors and peers who can offer guidance and encouragement. Remember to stay flexible and adaptable in the face of challenges, understanding that setbacks are part of the learning process. By staying positive and present, you can navigate the complexities of real estate development with resilience and determination.

Tap into your creativity to find unique solutions and seek guidance from mentors or industry experts. Remember, every successful real estate developer started somewhere, and embracing a growth mindset can lead to valuable learning opportunities and eventual success in the field. Additionally, explore educational resources, attend workshops or seminars, and immerse yourself in the industry to expand your knowledge and expertise. With determination and perseverance, you can overcome limitations and carve out a rewarding career in real estate development.

Siempre habrá cursos, seminarios, blogs, libros e información en internet que apoye tus ganas de crecer y mejorar. Cuando el alumno está listo, el maestro aparece, no dejes de buscar.

Internship or volunteering with a well-structured and reputable real estate development company with a good corporate governance culture goes a long way. It would expose you to essential rudiments such as location selection, conceptualization, procurement procedures, marketing and sales, site preparation and management, contract management and project management.