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Home > Property Developer Podcast > 64 – How to generate regular property development deal flow
Podcast: Property Developer Podcast
Episode:

64 – How to generate regular property development deal flow
Category: Business
Duration: 01:13:20
Publish Date: 2020-03-11 10:41:24
Description: Discover how property developer Rob Flux lost his property portfolio then rebuilt his wealth through developing property. He leveraged all the lessons he had learned from investing in property to come back bigger, faster and better. In this conversation we talk about the importance of mindset and tackling problems, return vs risk and time, and how he runs his business to ensure regular deal flow and project completions. Rob has enjoyed two parts to his property journey, his first part was as a property investor, buying and holding properties. Then he pretty much lost it all and had to start again. In part 2 of his career, he used development as a way to quickly regain his lost wealth. Not only has Rob completed a number of development projects along the way, but he has grown one of Australia’s largest networks of people interested in property development.  In this conversation we talk about the importance of mindset and tackling problems, return vs risk and time, and how he runs his business to ensure regular deal flow and project completions. To succeed as a property developer you need a growth mindset Keep an ear out for Rob’s view on profit sharing. Property Developer Training If you are keen to get started today in learning about the property development process and what you need to do at each step, then jump into the Property Developer Training course (www.propertydevelopertraining.com). This is the program that Justin has put together to help you get quickly started in property developing. Complete the course at your own pace and in your own time, and learn the tips, trips and techniques that Justin has used in all his projects. Find out more at www.propertydevelopertraining.com   Property Developer Quiz Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (www.propertydevelopertraining.com/quiz) and get a sense of where you are at… Lessons for property developers I trust you enjoyed that chat with Rob Flux. I think we covered some good ground, and there was plenty of gold for you to consider.  Here’s three things I took away from our conversation: 1. To succeed as a property developer you need a growth mindset One thing is for certain on any development project, there will always be problems to solve. Some big, some small. The people who succeed in life are ready to tackle the problems and not let them become a barrier. They see things as on the way, not in the way. I like to try and embrace the challenges and see them as opportunities to learn and grow. The size of the problems you are prepared to tackle will be an indication of what you can achieve in life. So are you ready to tackle little problems or big problems? 2. Reconsider how you view profit sharing It is very common to see the bottom line in a feasibility and want to keep it all, but as the saying goes 50% of something is better than a 100% of nothing. By not being prepared to share the profit and the risk, you may not get to do a project at all. Or you may be limited by the number of projects you can tackle. So maybe a reasonable profit sharing structure might help you and other people get further ahead in life. 3. What sort of return do you really want from property development projects? I really enjoyed Rob’s insight about being prepared to accept a lower return, in exchange for less risk and shorter timeframes. Maybe doing two projects that net 7% in one year with little risk is better than doing one project that gets 20% return in 2.5 years with a lot more risk? Maybe a combination of short, low risk, low return projects mixed in with higher return, higher risk projects might be a way of smoothing out the returns while balancing the risk. It all depends on your risk appetite. Alright, I hope you enjoyed that conversation with Rob Flux, if you did,
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