How to Find the Right Owner’s Representative for Your Real Estate Development Project

How to Find the Right Owner’s Representative for Your Real Estate Development Project // There are all sorts of reasons why someone might be interested in real estate development. It can be an extremely profitable industry, so maybe an owner is chasing financial returns. Or maybe a small business owner is trying to manage their growing business and needs to build some additional space. It's also common that landowners simply want to turn a non-earning asset into a cash-flowing one. The point is, that whatever the reason, it's common for "non-full-time real estate developers" to find themselves in a situation where they might not have the means nor the expertise to tackle a project. And in the development business, complexity and inexperience are the thief of profits. Deals die because project owners fail to assemble the right development team around them, aren't well versed in permitting and land entitlement, or don't properly manage project design, and costs balloon out of control. A real estate development owner's representative solves these problems for project owners. An owner's rep should have expertise in the following areas: - Site selection & land acquisition - Real estate due diligence - Site & project design - Project budgeting - Development financing - Land entitlement - Construction costs management - Risk management Those technical skills solve many of the procedural challenges that a project owner would deal with during development. But there are some intangible qualities that owner's representatives should possess as well. In this video, we cover everything that project owners, real estate investors, and small business owners need to know about finding an owner's rep for their development project. Bringing the right owner's representative on can't be left up to chance and should be an intentional aspect of every development business plan. ⌛ Timestamps ⌛ 0:00 Introduction 1:07 What is an Owner's Representative in Real Estate Development? 2:34 What Can You Expect From an Owner's Rep? 6:53 What to Look For in an Owner's Representative 9:54 Conclusion Our mission at Marsh & Partners is to help educate and guide business owners, investors, and developers through the complex world of real estate decision-making. We're bullish on the freedom real estate provides, as both a passive investment and long-term wealth creation vehicle. 👉 Download a snippet of our complete 65-page guide to real estate development: https://marsh-partners.com/lp-guide-to-the-real-estate-development-process 🚨 Learn more about real estate development or how a real estate consultant may be able to assist you on your next project: https://marsh-partners.com/blog 🚨 Connect with Matt and Marsh & Partners: https://marsh-partners.com/ https://www.linkedin.com/in/mattamarsh/ Questions - Have a question about the video or interested in us covering a topic specifically? Post in the comments section of this video! Subscribe to Marsh & Partners' blog here: https://marsh-partners.com/blog