Mistakes That Sink Developers with Robert Nichols
Let Us Know What You Thought Of The Episode Zoning is changing faster right now than at almost any point I can remember. Cities across Canada & the US are opening the door to four, six, even ten units on lots that used to allow one. Now on paper that sound like an amazing opportunity. But for many investors it can be a nightmare when they don’t know what the heck they are doing. That gap, between what's legally possible and what's actually buildable, is where a lot of good intentions turn into expensive mistakes. Robert Nichols has spent more than 20 years closing that gap. He's a real estate developer out of Boston who's completed over 40 projects and personally led entitlement and permitting on 17 of them in one of the most difficult regulatory markets in the country. He's also a capital advisor through MIG Advisory, where he's placed over $800 million across commercial real estate deals, so he's seen this business from the development side and the money side. His path here wasn't a straight line. He set out to become an attorney, ended up in a corporate job instead, and it was buying his first property at 23 that changed everything. From there he learned development from the ground up, working under a development company that also ran a lending arm, which is where he picked up how to actually underwrite a deal. Here's what we get into: How zoning and entitlement decisions early on can make or break a project's return What actually goes into building a capital stack that doesn't fall apart Why understanding your exit strategy before you even close on land The most common and most expensive mistakes he sees first-time developers make How he thinks about scaling from a single project into a repeatable development business And so much more He also gives us a sneak peek into where he's seeing the best development opportunities right now. If you've been wondering whether your next move should be development instead of another single or multifamily property, then you really want to listen to this right to the very end. Follow Robert on Instagram: https://www.instagram.com/robertlnichols/ Learn more about our Trusted Partner - SingleKey Used by more than +1 Million housing providers and tenants across the U.S. and Canada, SingleKey is a digital platform that helps property owners make more informed decisions when selecting tenants and managing their risk. Their tenant screening service, automated rent collection tool, and Rent Guarantee Program bring trust, transparency, and accountability into the rental process, allowing homeowners, renters, property managers, and realtors to rent risk free. Stop guessing with tenants. SingleKey’s got the tools: Screening, automated rent, and a Rent Guarantee. Used by 150,000+ landlords. Don’t risk it. Get SingleKey. Use promo code SAVVY10OFF or use the link below to login into your SingleKey account or create new account. Savvy members are entitled to an exclusive recurring 10% discount on all single credit bureau reports regularly priced at $29.99. Would you like to learn more? Visit: https://thesavvyinvestor.ca/singlekey Savvy Investor Links: Website: https://thesavvyinvestor.ca Instagram: https://www.instagram.com/savvy_investors YouTube: https://www.youtube.com/@thesavvyinvestor Join our Savvy Squad Community for 14 Days Absolutely FREE! https://thesavvyinvestor.ca/join Disclaimer: The views and advice expressed on this podcast are those of the participants and do not necessarily reflect the opinions or beliefs of the podcast host or affiliated parties. The content is for entertainment purposes only and should not be considered as professional financial, legal, or investment advice. Listeners are encouraged to conduct their own research and consult with qualified professionals before making any financial decisions. The podcast host and producers are not responsible for any actions taken based on the information provided.
