11/9/2020
How to Be a Successful Real Estate Developer | Lane Lowry | Real Estate Development
a How to Be a Successful Real Estate Developer by Lane Lowry | Nov 9, 2020 | Real Estate Development
Being successful in the real estate industry, no matter what the role may be, doesn’t happen overnight. It takes time, hard work, and even failure before catching your big break. But real estate can be a very lucrative industry, which is why so many want to venture into. While there are many risks when getting started in real estate development, there are tips and advice to make success more likely. Attack Problems Head-On In real estate, there are always going to be challenges and obstacles along the way. While problems are unavoidable, too many developers make the mistake of stressing over them instead of actively finding a solution. To be a great real estate developer, it’s essential to be an excellent problem solver. When an obstacle presents itself, a developer should not hesitate to gather up with their team to resolve the issue and get everything back on track. Build a Strong Network
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11/9/2020
How to Be a Successful Real Estate Developer | Lane Lowry | Real Estate Development
When it comes to real estate, a person’s career is only going to as strong as their connections. As a developer, it’s important to have a strong network and business relationships. A developer must ensure that they have a good relationship with their tenants, contractors, lawyers, bankers, architects, and more. These relationships can go a long way and make future real estate ventures that much easier. Find Your Edge It’s essential to have specialized knowledge when getting involved in real estate development. To be successful, a developer needs to find their edge and what gives them a leg up over the competition. As a developer, it’s important to have knowledge of a multitude of different fields, but specialized knowledge will make them more successful. Specialized knowledge can be found by hiring someone with the expertise or the developer can do it themselves. Since it’s pretty much impossible to learn everything, hiring someone can be the best way to go. Know How to Communicate Effectively Once a developer has a strong network, it’s important for them to know how to communicate effectively with them. They’ll need to know how to use different methods of communication to keep everything on track and ensure nothing gets lost in translation. It is imperative to effectively communicate expectations, goals, and vital information until the project is complete. A developer must also actively listen to others within their network and make sure they feel heard.
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