Do you have the right team assembled to help you reach your development goals?

It’s not just about what you build, but who is the team that will build it.

When looking at a potential real estate investment or development project you must consider the economics but before you consider does this work from a cost and income standpoint, you must ask yourself, do you have the team to execute this type of project or strategy?

If you do not, then ask, can I assemble the right team? Sometimes it might just be adding an experienced architect in the product type. Or a contractor that has built many projects similar in size and type.

Before you go down the road of looking for and analyzing deals, you need to figure out who you might bring on to execute the investment strategy or project.

I’ve worked on projects where it was clear from the start that the team was not quite right. Luckily for us we figured it out within a few short months, then brought in new team members to fill the void.

Sometimes you just need to add a consultant for design-assist on a curtain wall or an expert in tax credit syndications.

Other times you need to replace a critical part of your team like an architect or contractor.

The earlier you can make that decision, the better, because being decisive will save time and money.