Elle McGhee reveals what real estate developers wish they'd known starting out: a good deal matters more than capital, since strong deals attract financing. Development is a relationship business. And patience beats chasing quick profits.
Here are 3 things developers never tell beginners. Number 1, the deal is more important than the money. A lot of people think they can't get started because they don't have the capital. But experienced developers know good deals attract money. Number 2, most of development is relationship. Your contractor relationships, your city relationships, your lender relationship, and your partnerships. That's why networking matters so So much in this business. And number 3, patience matters more than the hype. A lot of people want fast money, but development is really about long-term vision. The people who win in this space are usually the people who stay consistent longer than anybody else. And honestly? And honestly, I wish somebody would explain these things to me earlier. So look, if you're serious about learning development and how it actually works, comment the word land and I'll personally send you the link.
