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What The Heck Do I Do All Day Long?
Season 8 Episode 248
Some people ask me, Victor what does a typical day look like for you?
On today’s show we are talking about one of the daily flows of being a developer in today’s environment. I’m naturally involved in talking with investors, with leading parts of our organization, with negotiating contracts, and with reviewing project plans, performing due diligence. But today’s I’m going to focus on just one aspect of my weekly workflow. There is a certain strength that comes from repetition of an exercise. In the gym, you can lift heavier weights and do more repetitions. This is what breeds excellence.
In the world of development, that translates into examining the economic model for a project and truly testing the main variables on a continual basis.
So we don’t have the luxury of creating a financial model only once. The model will often go through dozens of revisions over the life of the project. On a major project it’s not uncommon for a financial model to have 20 or 30 versions. The biggest focus is on controlling the elements that you can control.
What you can control are the choices you make on how the project gets built so that you bring the unreasonable construction estimates that invariably are presented down to hopefully workable numbers. That means digging into hundreds of details on the construction and engaging in value engineering analysis.
This is where we are looking at the portions of the construction that have the biggest impact on the overall cost and looking for ways to save.
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**Real Estate Espresso Podcast:**
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Published on 17 hours ago