In this episode, Dan Lazar shares the secret to becoming successful in the development industry. Dan discusses how his experience playing tennis helped him understand how to negotiate and find deals off the market. He also shares that it is important to be aware of potential funding challenges early on in the development process.
[00:01 - 05:34] Opening Segment
Introducing Dan to the show
Brief background and career
The importance of research and preparation when starting a development business
[05:35 - 11:47] Starting a Business in Development
Putting all your money in one deal
The importance of having a mentor
What went well and what didn’t in Dan’s deal
[11:48 - 21:08] Structuring Air-Tight Contracts
Drafting a 15-page agreement
Incentivizing to do it right the first time
Dan shares some challenges along the way
The development process before seeing a physical product
How to indicate a deal through market indicators and research
[21:30 - 26:09] Closing Segment
Learn more about Dan through the Quattro Trio
See the links below to connect with Dan
“I wouldn’t have been able to do both of these two deals if I hadn’t had the right terms.” - Dan Lazar
“If a property has not been sold for over 10 years then there’s a likelihood that it might be in the market in the next 10 years.” - Dan Lazar
Connect with Dan through LinkedIn, or Facebook, or visit http://www.herox.com.au/.
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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.