In this episode, Paul talks about the main challenges property developers face and shares how he overcame each of them. He covers finding plots of land where the level of competition is minimal, how to quickly assess sites without spending a lot of money, securing the deal on good terms and maximising the profit. Paul also explains why you need to have your exit in mind and how to make a direct approach that maximizes your chances of a positive response from landowners.

KEY TAKEAWAYS

• Finding viable sites where the level of competition is minimal is key.
• You cannot afford to spend a lot of time and money assessing sites that eventually turn out not to be viable.
• Using options is usually the best way to secure your deal on the best terms.
• The existing use value is what you need to beat in order to incentivise the landowner to sell.
• Making the value pie as big as possible is vital. The bigger it is, the more likely the landowner is to sell.
• There are some great online resources that you can use to find sites.
• With the right approach and experience you will find deals that others have missed.

BEST MOMENTS
“Properly assessing a site and taking it through planning can be really slow and expensive until you figure out what to do.”
“The bigger overall value pie you create, the better.”
“So, this is me breaking down every step into a logical system and progression. So, it's easy for people to understand and remember.”
“When you’ve found opportunities, you then need to make an approach to the landowner in a very specific way.”

EPISODE RESOURCES
Options episode - https://podcasts.apple.com/gb/podcast/%C2%A31-option-agreements/id1750859336?i=1000679140634

ABOUT THE HOST 
Paul Higgs is a Chartered Planning and Development Surveyor with 40+ years' experience in land, planning and development and a 100% success track record in winning planning consents.
Paul undertook his first refurb project when he was just 17 and then worked his way up from labouring on building sites to becoming Head of Land for renowned plc housebuilder, Barratt Developments. He managed to escape the corporate world in 2002 to set up what is now a multimillion-pound award-winning property development company, Millbank Group. 
In 2013 Paul founded the Millbank Land Academy, the UK’s first training company dedicated to property development; to teach established and aspiring developers the insider secrets the big housebuilders don’t want you to know! 
Paul is also a founding investor and former board director of the industry-leading PropTech Co, LandTech, and has lectured on Advanced Development Valuations on the MSc Property Development at London South Bank University.
 
CONTACT METHOD
LinkedIn: https://www.linkedin.com/in/paul-higgs
Millbank Land Academy: https://www.millbanklandacademy.co.uk
Instagram - https://www.instagram.com/paulhiggsofficial
YouTube - https://www.youtube.com/@InsidePropertyDevelopment