Innovan Neighborhoods’ Post

What are the top three things you need to succeed in real estate development? 🏗️🏢 Maggie J. Parker from Innovan Neighborhoods shared the following pillars to succeed in development with our Real Estate Ladies group: ✴️ 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 Real estate development is a roller coaster, and it takes immense mental strength to navigate unexpected obstacles. Maggie emphasized how being a woman of color in the industry can be challenging, but maintaining composure and standing your ground is crucial. She cited that having 𝙥𝙖𝙩𝙞𝙚𝙣𝙘𝙚 𝙘𝙖𝙥𝙞𝙩𝙖𝙡 is KEY - it took her years to get her 203-unit townhome land deal entitled. ✴️ 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽 Building and maintaining relationships is everything. Listening to residents and the city allowed Maggie to adapt her projects to better serve the community. Also, by forming a key partnership with an established company like Matthews Southwest, she leveraged their expertise and demonstrated how relationships can open doors. ✴️ 𝗥𝗲𝗮𝗱𝗶𝗻𝗲𝘀𝘀 Maggie’s background in city planning and experience with community-based funds helped her secure major projects. This proves how critical it is to obtain technical knowledge with real-world experience. Her advice for emerging developers? Know your numbers - learn how to underwrite and put together pro formas. _____ It was a pleasure hosting our Real Estate Ladies meet-up and having Maggie Parker as our guest speaker to inspire our group! 💫 Thank you to all the ladies (and gents!) who joined us and to our sponsors, Sendera Title and Cash Flow Portal, for making this event possible. It is these in-person networking events that help solidify key professional and personal relationships of a lifetime. We formed our group Real Estate Ladies so we can support an essential key pillar of success - Relationships. 😀 Please join us at our next REL event - 𝗧𝗵𝘂𝗿𝘀𝗱𝗮𝘆, 𝗔𝗽𝗿𝗶𝗹 𝟭𝟬𝘁𝗵! If you want to be added to our email list to get early details of our next event, please DM me or see list sign-up in comments! #realestateladies #womeninrealestate #realestatedevelopment #patiencecapital #networking #knowledgeispower Navi Ventures