All Forum Posts by: Peter Roehrich

Speak to your attorney. You may not be able to restrict it to a particular sex.

@Anthony Duann I handled this be describing occupant needs and property attributes rather than demographics. So, for example, I would say of a 3 BR detached house that it would work for a household of three people requiring two BR and an office, or a household of three people each requiring a BR. That places the attention on how the property can function for occupants rather than what the occupant "looks like". Hope this is helpful.

@Bill Plymouth setting goals line that is an excellent idea! I would set action goals rather than outcome goals to keep you focused on what you need to do. So, for example, your 90 day goal might be to examine 6 candidate transactions (I don't know where you are in your business planning, I'm just making that up, you should use any appropriate goal for where you are in planning). Hope this helps!

Hi all,

As context, I'm just launching my development company. I was speaking with a new RE attorney (well, not new to RE, he's been at it 30+ years, just new to me) the other day who asked if I was going to scale up to multiple projects at once to achieve economies of scale.

My answer was that I would do that in year two or three.

I heard Guy Kawasaki say many times that in the VC arena he'll "take scaling too late over scaling too soon all day long" and that scaling too soon can kill companies.

What do you think? Is that needlessly conservative, or the right approach?

Hi all!

Here's a big "Thank You!" to BP and the community for the inspiration I've drawn from the articles, resources, podcast, and forums. You see, for at least seven years I've wanted to get in to residential real estate development but have been both timid and daunted by where to begin. I've read a lot of your posts and articles, listened to podcasts, getting both insights and inspiration - most importantly, I learned from you that the most crucial step is to take action. 

I took what had been a secret dream and brought it out into the sunlight. I'm getting helpful feedback, assembling a team, and preparing a business plan.

I'd love to hear your thoughts about what you wish you had been told when starting out!

Thanks again, P

@Art Perkitny what a brilliant data driven approach! Thank you for both doing it and walking me through it. This all makes a lot of sense.

@Jason D. That reminds me, one of the agents I spoke with said that with new construction she has to control buyer's expectations because of HGTV, etc.

Hi all!

I'm writing a business plan for my development company. I want to describe with some specificity what the market in my area demands in a home. I have reached out to some Realtors with questions along the lines of "What do clients look for in new construction?" or "What makes buyers choose new construction?" but the answers haven't been too helpful. I've toured tons of new houses but don't have a good sense of what features in the houses really matter to the buyers. I also don't know what buyers are choosing for options in their new builds.

So, my question to you is how do you figure out what new construction buyers really care about?

How do you decide when to use a 'premium' finish as opposed to something basic. Taking bathrooms as an example, how do you figure out whether a quartz counter top is worth the added cost or something that won't command a return?

My experience has been that for IDs, state of issuance isn't an issue. Those of us in the DC area do business across state lines all the time without problem. If you're concerned the state of issue will be a problem, how about you use your passport?