Property Developer Nikhil Patel of Flamingo Investment Group shared with us his #TrustedTip with regards to the mindset and qualities he believes are indispensable to identify the best Development Opportunities to pursue.
“Finding, acquiring and delivering the correct project is a time-consuming process.
There are plenty of so called ‘deals’ available in the marketplace.
However, after giving careful consideration, we often choose to walk away from the ones we believe would not be a sound move for us.
After reviewing many opportunities presented to us, it would be easy to decide to take a gamble on one that “could work” if everything goes entirely to plan.
Rather than starting on the back-foot something that could reveal itself as a poor deal, our view is to remain patient.
Finding sites is very much a numbers game.
We might look at appraising hundreds of sites before finding the right ones to secure.
The Diamonds in the rough are out there and can be found with a fine-tuned search strategy and by not settling for deals that “might work” only in a best-case scenario.”
“Patience and Perseverance are absolute key when looking for the Diamonds in the Rough.”