|In This Issue|
RED Book Winners Software Savings
Real Estate Development & Design
In this issue we talk about two of the essential keys to building a successful real estate development business.
Plus we had a fantastic response to the RED Book competition and would like to thank everyone who entered. We received so many valuable comments and contributions.
We'd like to congratulate Yasmina from Sydney who was the winner of the grand prize of 12 months FREE RED membership and mentoring valued at $1200. Yasmina put together a detailed 4 page entry including a draft of the book cover.
Adrian and Amber with Yasmina the winner of the RED Book competition
Congratulations also to the following 8 lucky consolation winners who each receive one months FREE RED membership valued at $98 including access to the Members-only website packed with free bonus gifts.
Albert Ko - Malaysia
Glynis Bryden - Ballarat VIC
Cian Brennan - Perth WA
Daniel Flack - Auckland New Zealand
Kevin Thurtel - Grafton NSW
Rachel Baldwin - Richmond USA
Kumar Gopalan - Melbourne VIC
Peter Hancock & Theresa Walker - Blakehurst NSW
|Two Essential Keys to Building a Successful Real Estate Development Business|By Adrian and Amber Zenere
In our opinion two of the essential keys to running a successful Real Estate Development business are using great systems and forming great long term relationships. When it comes to real estate investing very few investors actually look at building their property portfolios as a real business. They need a shift in their way of thinking and to approach real estate investing more like an entreprenuer.
Entrepreneurs use proven systems and leverage off others to run their business effectively and they view their business as separate from them. They realise that they are not their business and see their business as the end product. A property developer who understands that, has a real opportunity to become very successful.
When you realise that real estate development is a business and that your business is your product, you can then start to work on building your business. To build a successful real estate development business you will need to change the way you think and your approach to real estate investing.
We believe that the ultimate real estate developer is what we call a 'Real Estate Development (RED) armchair entrepreneur'. You see, the traditional property developer still thinks that real estate development is a job. They believe that time equals work and work equals money, whereas a RED armchair entreprenuer believes that time equals equity and equity equals freedom. In other words if RED armchair entreprenuers spends the time to build equity it will allow them to get free of the business and if they want more freedom they build more equity.
Traditional real estate developers still believe that they need to do the work and be part of the system whereas RED armchair entreprenuers believe that they should build great relationships and have others do the work. This enables RED armchair entrepreneurs to build their businesses much faster.
When the business owner is also the hands on developer it will usually require much more hard work to make the business successful. It is much smarter for anyone considering entering into the industry to set up a business where the systems run the business, and let others run the systems. In other words the systems and other people work for you so you don't have to.
Working on your business allows you to work on the things that really matter and that will give you the biggest return for your efforts. RED armchair entreprenuers use systems to streamline tasks and avoid chaos so they can concentrate on growing their business efficiently.
When the systems are being run by others RED armchair entreprenuers are able to focus their attention on innovation. They can caputalise moments of inspiration and through effective communication they're able to turn their dreams into reality.
you think about some of the great property developers, names like Donald
Trump will typically come to mind however one of the biggest property
developers was actually a school drop-out, Ray Kroc the founder of McDonalds. An
entreprenuer with an incredible vision who worked on his business and
not in his business.
You see Ray never considered that he was in the
hamburger business but rather that he was in the business of real estate. Ray secured development sites in great locations, put fast food
restaurants on them which he franchised. Ray
Kroc died on January 14, 1984 and was worth an estimated
YOUR ULTIMATE GOAL
As business owners and proud parents our most important asset is time and as much as we wanted to be actively involved in real estate development we knew we didn't want to be traditional real estate developers who worked long hours trading their time for money.
Instead we looked at the big picture and applied the same entreprenuerial skills we had developed in our architectural practice to property development. Real estate development had to contribute to our ultimate goal of achieving financial freedom and giving back.
We knew that when we achieved our ultimate goal it would give us more choices so we could start to live our dream lifestyle according to our core values and with passion and purpose.
To be successful at real estate development you need to connect with what is most important to you. As soon as you start thinking more like a RED armchair entreprenuer and set your ultimate goal or the dream that drives everything you do the more real estate development will give you a sense of direction and purpose.
Your ultimate goal will make you want to jump out of bed in the morning and stay up late, it is your innermost driving force. It will allow you to live your life intentionally, rather than randomly and it will motivate you to achieve your full potential.
Setting your ultimate goal has nothing to do with real estate development. It is about how you want your life to be like.
It isn't about material things, or about others. There is no right or wrong answer because it will be different for everyone. It is about your life so it is, in essence, what is true for you. Real estate development is only a vehicle that can be used to support your ultimate goal.
To set your ultimate goal, you should start off by asking yourself questions such as:
- What do I need in my life?
- What do I want in my life?
- How do I want to live my life today?
- How do I want to live my life in 2, 10 or 20 years from now?
- What has given me great joy so far in my life?
- If I had a magic wand and my life could be anything I wanted it to be, what would that life be like?
Knowing your ultimate goal gives you the ability to make conscious choices that are consistent with what is important to you, your core values. It will help you set your life's purpose and put real estate development in its proper prespective.
Wishing you much success,
FeaStudy Property Development Software
We consider that a properly prepared financial feasibility study is one of the most important ways of minimising the risks involved with property development.
We use FeaStudy as it is, in our opinion, the most user-friendly financial feasibility software for real estate development and investment proposals that we've used and the most appropriate for our use in smaller-scale residential development.
In considering the time it saves us in preparing a Development Feasibility Report, in our opinion, Feastudy 6.0 Professional is a comparably inexpensive tool compared to the important job it performs.
Below are just a few examples of the types of reports Feastudy 6.0 can generate:
Please Note that Feastudy 6.0 Professional is ONLY compatible with Microsoft Corporation's Windows operating systems, 98, Me, 2000 and Xp. Apple Mac users are able to use it with emulation software.
|POSH - Property Management Software
To keep track of our property portfolio one of the property management software programs we use is POSH.
It incorporates both the analysis and management modules to enable you to quickly and easily analyse and manage your investment properties
Supertech are offering our REDDreport readers a 10% discount on POSH software.
|Trust Magic - Spiral Bound
In this updated edition of Trust Magic, accountant Dale Gatherum-Goss, one of Australia's most renowned property tax experts, teaches readers how to protect their assets and minimize tax using trusts.
Dale explains why Australia's wealthiest property investors use trusts to control their investments and assets.
We've personally used Trust Magic and found that it gave us a good overview of Trusts and how they work so that when we met with our property Legal Team we knew what questions to ask.
What we like about Trust Magic in particular is that it is written in easy to understand 'Layman's Terms'.
|The Mental ToolBox
Paul and Mary Blackburn
Internationally renowned Personal Development coach Paul Blackburn of Beyond Success helped us with a lot of the emotional stuff and we made some of our biggest breakthroughs during Paul and Mary's 'Mental Toolbox' workshop where we learned how to identify and eliminate our emotional blockages to success.
Paul is a phenomenal mentor who's probably best known for his work with the Australian Olympic athletes at the Australian Institute of Sport (AIS). RED Club GOLD members receive two FREE Tickets (valued at $1,900) to the life changing "Mental Toolbox" three-day workshop presented by Paul Blackburn.
We've included a second ticket to The Mental Toolbox workshop. The reason for this is, it's the sort of workshop that's great to do with a partner, family member, friend or even one of your key customers.
To find out when the next workshop will be on in your area just click here...
To find out more about becoming a RED Club GOLD
member and claim your FREE Mental ToolBox tickets click here...
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