Question for all Development Managers!

Hello All,

Looking to hear from some development managers in the industry. Would love to hear about he pros and cons of the position and long term outlook as a career.

I am currently 22 and have been working in the real estate industry for almost 3 years now, with most of my experience as an estate agent/property manager. However, most of my time was spent working with large development parcels of land specifically, and I have started to become very interested in delivery side of projects rather then sales.

Just out of curiosity looking to hear directly from people who work through it everyday. What should I be doing before I even consider this path? Long term outlooks etc. Any advice would be great!

 

B Construction Management

 

Studying now through Property Council of Australia, and thinking about doing a grad cert.

What should you be doing? Getting honest with yourself if you have the personality to manage people, and processes to achieve an outcome. Does your personality enjoy talking to builders and construction trades, and planning professionals.

 

I'm a development manager at a private family office in Sydney's East. Looking for opportunities to do my own thing at the moment on the side given I have the equity and debt partners to do it as well as all the consultant and contractor relationships, it's more about trying to find an opportunity that stacks.

I currently have a $30m offer out on the Northern Beaches and a $60m offer out on a site in the City Fringe. I'm also working with a pub operator who has a large amount of sites, developing feasibility studies for co living and hotels above existing pubs in the CBD and Fringe. The pub arrangement will be a JV of sorts where I'll run everything development and benefit from some profit share.

My professional career in a nutshell. Time is in short supply so apologies upfront for the rather haphazard breakdown

• Short attempt at professional AFL career - failed, having not gotten drafted. Threw in the towel pretty quickly
• Pushed in to a commerce / accounting degree by my parents, both chartered accounts
• Took up a job as an analyst at an engineering company in Perth, mainly infrastructure and mining jobs
• Bought property in Perth and Miami, USA as a 20-year-old, always a passion from a young age
• Intercompany transfer to Melbourne (22/23 years old), opportunity to work on big housing developments
• Applied for a heap of development manager and acquisition manager property jobs throughout Melb, Bris and Sydney. Applied for 100s as I wanted a decent wage without any 'real' property experience apart from my own purchases
• Lack of transaction and delivery experience was an issue, so,
• Scored a job (25 yrs old at this point) managing a Sydney local council property portfolio. A bit of BS in my interview, a bit of charming the GM who was also originally from Perth to get it
• Worked there for circa 2 years, completing a post grad in property development during work hours (lazy government worker)
• Saw myself becoming one of those perpetually lazy government workers and was always quite ambitious so applied for various Development / Acquisition manager roles at developers
• Again, lack of delivery and transaction experience meant it was difficult
• But, I eventually picked up a role as an analyst for a State-Owned Chinese developer. 1 of 2 westerners as they were just starting out
• Rise up quickly, Junior Analyst to Analyst to Senior Analyst to Investment Manager
• Purchased 8 or so dev sites in 3 years from $20m to $160m
• Moved to London (30 years old at this point in time) for 2 years to open up their UK branch as Head of Investment, Asset Management & Development
• Purchase a 150 pound A Grade office building in Central London and a 700-unit dev site in North London
• Managed a refurb of the office building
• Managed the design & planning approvals and early works at the res development
• Moved back to Sydney as a Senior Investment Manager for the same company
• Stayed for another 2 years and a few more acquisitions incl my first in Brisbane, until the writing was on the wall that they were going to shut up shop and head back to China
• Started up the development arm of a non-bank lender post Covid (34 years old)
• Purchased a dev site but with interest rates rising quickly and their rates to developers fixed, they decided to sell and re-focus on lending as they were bleeding
• Now 36 and consulting for a few developers to keep the cash flow coming in while I try and secure my own development site with a friend and old colleague of mine
• Bought my first house (previous have been units or town houses or whole unit block as is the case in Miami), on the Northern Beaches.
• Typical worst house on the best street. Will be knocking down and building with the idea of doing a couple of these a year for my wife and I to do together as side projects
  
• I have a decent resume in terms of purchases and projects delivered and with all my contacts, funding shouldn't be too much of an issue. It's more about finding the right opportunity that stacks...which is where I am at today