Don O’Rorke's guest appearances

Don O’Rorke

Property Developer Podcast

The Development Drum

Sonia McDonald

Brent Thompson

OwlTail

In this episode we talk about Don’s plans for the company, his team, their portfolio, and the current opportunities in the market in light of current conditions. Links from this episode: https://www.consolidatedpropertiesgroup.com.au/About your host: Chelsea van Riet is the UDIA Queensland’s Director of Research and Engagement.About Don: As a founding member of Consolidated Properties Group, Don has successfully shaped the business over 40 years to its current $2.3 billion development pipeline.

In this episode we talk about Don’s plans for the company, his team, their portfolio, and the current opportunities in the market in light of current conditions.  Links from this episode: <a href="https://www.consolidatedpropertiesgroup.com.au/" rel="nofollow" target="_blank">https://www.consolidatedpropertiesgroup.com.au/</a> About your host: <a href="https://www.linkedin.com/in/chelsea-van-riet-21825b23" rel="nofollow" target="_blank">Chelsea van Riet</a> is the <a href="https://www.udiaqld.com.au/" rel="nofollow" target="_blank">UDIA Queensland’s</a> Director of Research and Engagement. About Don: As a founding member of Consolidated Properties Group, Don has successfully shaped the business over 40 years to its current $2.3 billion development pipeline.

Interview with Don O’Rorke from Consolidated Properties Group

In this episode we wrap up the conversation with seasoned developer Don O’Rorke. Don is the executive chairman of Consolidated Properties Group. Consolidated is one of Australia’s leading development companies with a current work book of more than $2 billion. It is a privately owned company that has delivered more than 200 projects over the last 35 years.If you missed the first part of the discussion go back to episode 52 and catch up, as Don shared a lot of gold with us about how he got started in the business, the key projects they did along the way and lots of tips on succeeding at developing.In part 2, we continue talking about the lessons learned along the way including the importance of identifying and mitigating risks, adapting to the current credit market, and some of the projects that didn’t go according to plan. Don will also share a tale of a $200,000 cheque and why it is an important reminder to avoid legal litigation.Property Developer TrainingIf you are keen to get started today in learning about the property development process and what you need to do at each step, then jump into the Property Developer Training course (www.propertydevelopertraining.com). This is the program that Justin has put together to help you get quickly started in property developing.Complete the course at your own pace and in your own time, and learn the tips, trips and techniques that Justin has used in all his projects. Find out more at www.propertydevelopertraining.com Property Developer QuizKeen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (www.propertydevelopertraining.com/quiz) and get a sense of where you are at…Lessons for real estate developersI hope you enjoyed that conversation with Don, as I certainly did. It goes to show what you can achieve with some ambition and determination. I got a lot out of my chat with Don, but here’s three things that really stood out:1. Clearly identify your property development risks &amp; mitigate themDon was pretty clear around the importance of managing risk through the development cycle. He said that each stage has risks and mitigation measures. Here’s some examples that Don suggested:1. planning risk - mitigate that by getting a permit  2. delivery risk - mitigate that by appointing a good builder on a fixed price contract3. take out risk - get some pre sales or pre leases in place, and make sure they stack up with professional valuations and4. capital risk - put in place measures to ensure you have debt &amp; equity pieces in place.By identifying your risks and figuring out some measures to off-set them, you can go into a project with confidence that you have thought strategically about what you are doing.2. When times are good property developers can get sloppyDon said that the projects that didn’t go well tended to start during buoyant periods when people get exuberant. So his advice was to stay laser focused on risk. Don’t forget about sticking to your system and staying balanced in your assessment of projects. Don commented how often the big risk is in the tail of a project, so the last 20% when you are trying to sell those final apartments or lease those remaining shops, can be the difference between success and failure. Don also suggested that you take heed of the lessons you have paid for when things don’t go according to plan, so you don’t make them again in the future.3. What is your property development business strategyOne thing Don said he would change if he could go back in time is to change the business strategy from build and trade, to build and hold, due to the power of the rising market. So consider which strategy you are going to employ and figure out what you will need to achieve it. How much capital and equity will you need? Don’s business now has a balance of both,

In this episode we wrap up the conversation with seasoned developer Don O’Rorke. Don is the executive chairman of Consolidated Properties Group. Consolidated is one of Australia’s leading development companies with a current work book of more than $2 billion. It is a privately owned company that has delivered more than 200 projects over the last 35 years. If you missed the first part of the discussion go back to episode 52 and catch up, as Don shared a lot of gold with us about how he got started in the business, the key projects they did along the way and lots of tips on succeeding at developing. In part 2, we continue talking about the lessons learned along the way including the importance of identifying and mitigating risks, adapting to the current credit market, and some of the projects that didn’t go according to plan. Don will also share a tale of a $200,000 cheque and why it is an important reminder to avoid legal litigation. Property Developer Training If you are keen to get started today in learning about the property development process and what you need to do at each step, then jump into the Property Developer Training course (<a href="http://www.propertydevelopertraining.com" rel="nofollow" target="_blank">www.propertydevelopertraining.com</a>). This is the program that Justin has put together to help you get quickly started in property developing. Complete the course at your own pace and in your own time, and learn the tips, trips and techniques that Justin has used in all his projects. Find out more at <a href="http://www.propertydevelopertraining.com" rel="nofollow" target="_blank">www.propertydevelopertraining.com</a>   Property Developer Quiz Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (<a href="http://www.propertydevelopertraining.com/quiz" rel="nofollow" target="_blank">www.propertydevelopertraining.com/quiz</a>) and get a sense of where you are at… Lessons for real estate developers I hope you enjoyed that conversation with Don, as I certainly did. It goes to show what you can achieve with some ambition and determination. I got a lot out of my chat with Don, but here’s three things that really stood out: 1. Clearly identify your property development risks &amp; mitigate them Don was pretty clear around the importance of managing risk through the development cycle. He said that each stage has risks and mitigation measures. Here’s some examples that Don suggested: 1. planning risk - mitigate that by getting a permit  2. delivery risk - mitigate that by appointing a good builder on a fixed price contract 3. take out risk - get some pre sales or pre leases in place, and make sure they stack up with professional valuations and 4. capital risk - put in place measures to ensure you have debt &amp; equity pieces in place. By identifying your risks and figuring out some measures to off-set them, you can go into a project with confidence that you have thought strategically about what you are doing. 2. When times are good property developers can get sloppy Don said that the projects that didn’t go well tended to start during buoyant periods when people get exuberant. So his advice was to stay laser focused on risk. Don’t forget about sticking to your system and staying balanced in your assessment of projects. Don commented how often the big risk is in the tail of a project, so the last 20% when you are trying to sell those final apartments or lease those remaining shops, can be the difference between success and failure. Don also suggested that you take heed of the lessons you have paid for when things don’t go according to plan, so you don’t make them again in the future. 3. What is your property development business strategy One thing Don said he would change if he could go back in time is to change the business strategy from build and trade, to build and hold, due to the power of the rising market. So consider which strategy you are going to employ and figure out what you will need to achieve it. How much capital and equity will you need? Don’s business now has a balance of both,