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Podcast: The Commercial Real Estate Investor Podcast
Episode: Josephine Saffert on Getting Started in Real Estate Development
Description: Key Takeaways:Hire slow, fire fast when it comes to contractors and builders. Aligning incentives is crucial.Avoid 50/50 partnerships in real estate development. It's better to have a clear majority ownership and decision-making control.Budget significantly more time for rezoning and entitlement processes than the typical 4-6 months, more like 6-9 months.Diversify your income streams as a developer, such as starting a brokerage, wholesaling deals, and running an educational program.Obsess over costs and line items, and always get backup invoices from contractors to maintain control over the...