Developer Sunil Saxena and I spent the day fishing, and I saw a lot of parallels between fishing and real estate development.
When you develop real estate, you’ve got to do 3 things really well.
- Find a good real estate deal
- Build a new home, renovate, or develop quickly and efficiently
- Find a buyer and close the deal
First you need to find a deal. We know where to find good real estate deals. We know good spots in the DC Metro and we understand market conditions — just like our captain and first mate know where to find good fishing spots.
Second, you need the right tools and processes. When fishing you’ve got to have bait, lines, nets, and gas ready. You’ve got to operate efficiently when you’re developing real estate, too.
Finally, you reel it in and close the deal. In real estate development, you don’t just count on one lead source. You don’t know if a buyer for a deal will come from an Facebook ad, sign call, referral, Zillow ad, open house, or a past client. Keep lots of marketing lines in the water so you get inquiries from as many qualified buyers as possible.
100 Units in Our Development Pipeline
Sunil and I now have 100 units in the pipeline! It’s crazy to think that we’re now at that level in our development.
We’re always fishing for development deals, and we’ve got a lot of great investment projects coming up in future vlogs.
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