44 – Strategic Planning for Property Developers (part 2)

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By Justin Gehde. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Becoming a strategic property developer is not as complicated as you might think. What does being strategic mean, and what does a strategic property development even look like? You will discover all this and more as we continue our conversation with Byron Sakha. Today we wrap up our chat with Byron Sakha from Seraphic Developments. If you didn’t hear the first part of the discussion then go back and take a listen to episode 43 as we talk about how Byron went from big corporate to his own show, the niche development segment that he stumbled upon, and lessons he learnt along the way. In this portion of the discussion we delve right in to the idea of being strategic in your property developing and talk through what that actually means and what you can do to be prepared for any outcome. "Strategic planning gives you foresight into possible challenges, setbacks and objections." I’ve also been responding to the many people who have been in touch about the property development mentoring program. It’s been great to see so many people wanting to take charge of their life and tackle something they feel they want to do. I have an interview coming up soon with the guy who runs the program and I’m sure you will enjoy that discussion, as we track his move from retail shop owner to property developer. If you are interested in learning how to develop property then please drop me an email at justin@propertydeveloperpodcast.com and I can send you some further information about the program. I’m also in discussions with some potential future guests about coming on the show and I’m very excited about bringing them to you over the coming episodes, so stay tuned! I’d also like to say a very big thank you to the people who have left comments on Apple iTunes, I have to say I am very humbled by your support and comments, it certainly inspires me to keep going. If you are enjoying the show and can remember when you have a few spare minutes, a rating on iTunes is a nice way to show your gratitude to the guests who graciously give their time and share their valuable insights. Tips for real estate developers I really enjoyed that chat with Byron and I hope you did too. I think we covered some really good topics. The points I took out of this part of the discussion are: 1. Don’t be afraid to ask hard questions This was a great point that Byron made. Asking hard or challenging questions to people is a great way to see how people react and what they do. If people push back then ask why? What is it they find difficult or why are they being cagey? This may be a red flag, or there may be another answer, but whatever it is, you owe it to yourself to find out. Otherwise, it could come back to hurt you later. Being prepared to ask the hard questions shows you are professional and that you take your diligence work seriously, and I would think that people with nothing to hide should be happy you are asking the questions. 2. Strategic planning can help your property development business flourish Byron and me talked at length about the power of strategic thinking and planning, and we showed you how to be strategic. Identifying issues can help minimise risk, it helps you prepare for many eventualities and gives you an opportunity to flourish as an individual. We talked about identifying problems before they come up, working out what some of the solutions or options could be, and how you can stay grounded and centred along the way. 3. Your biggest challenges create the greatest growth I love this point and it is so true, as one of my mentors John Demartini says, maximum growth occurs at the boundary of support and challenge. We often learn the most when we are being challenged a lot. At the time it can seem stressful and hard going, but with hindsight we can often see that this was the best thing to happen to us. So why not embrace those challenges with the awareness that they are helping you become a better developer.

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