Dave Bradley – Property Development Expert

Hello, I’m Dave Bradley, and terrific to be
here, so excited this year to be working with Stuart, and same with Zadel Property Education
to try and pass my knowledge to you guys. To those who don’t know me, I’m actually a
Chartered Accountant, I tried but I’m actually a property developer, by choice. Some people may know me better from the good
ol’ days, when I was with Steve McKnight, when we wrote this book together. He was the
one behind in writing the book he was the brains and I was the beauty. For people who
have read this book, a great read and all the stories are true and it was tremendous
time of my life. I never actually thought of getting back into
seminars and that sort of stuff, I’m doing this I guess for a number of reasons, the
first is that, I’m a father to four young children and I’m going to lead by example
rather me telling them what to do, I’ll try to show them what to do. So I’m trying to impart some of my knowledge
on them as far as money and stuff, but just to show them what Dad does and so on. So they
are going to see me during the course over the years step out of my comfort zone because
that’s what I’m doing right now and I encourage you guys to step out of yours. In the book, we spoke about know 130 properties
in three and a half years much question that we were asked, what are you doing right now?
Right now, I’m developing property, that’s what I do as my day job, that’s what I tell
my kids’ school friends, what I do is, I’m a builder and developer. IN the last two, two and a half years, I think
I’ve built & sold over a hundred dwellings and they sell price will run about forty to
fifty Million dollars. I stopped keeping track of what I bought because simply I was buying
lots and lots of houses and lots and lots of properties and through that time I learned
lots and lots of lessons and that’s what I’m trying to teach you guys over the next little
while. So one of the most questions I was asked is
why I develop. I basically do it for four reasons. The four reasons, the concept of leverage,
now I’ve got leverage on my money in a deal or a certain number of dwelling or security
blanket, insurance policy of you like as far as making sure you are actually making a profit.
The second reason is because I can outsource so many tasks; I am fundamentally lazy person
and yet when you develop there are so many people who are intricate trying construction
of houses and doing the whole development process and I all seem to know what to do
and my job is simply to make sure that everyone is doing their job, so I can actually fulfill
my job somewhat lazy while still making sure that my developments are on track to my profits. The third reason is you actually get to keep
your day job or whatever it is you do during the day. So my particular case, I do this
on a full time basis but a lot of people and a lot of friends and clients and colleagues
that I have mentored and so forth have is that they keep their day job and have this
on the side like a transition if you like getting up full time 9-5 work into building
a retired or semi-retired person. In my perspective, I get a lot of time in spending time involving
my kids’ activities and that is probably the number one reason why I’m in this business
in the first place to win back my time. So I can bring them to school, carnival, or taking
my kids to swimming lessons or whatever it is, I’ve got that time back, and the fourth
reason why develop is probably pretty important to make the other ones impossible is the quantum
of dollars, the amount of profits that you can make in it as such that the lump sum the
cash that you can make and to get back your time. So it is going to have fun in doing
something but come into reality unless you are making it enough profit on that particular
venture you would have to subsidize in doing something else. The returns are made in in property development
since it means you can subsidize in getting back your time and doing whatever it is you
want to choose to do with your time. So here some of the common mistakes that I
see people make. I’ll bring that into four mistakes that is probably plenty more that
people make over the course and probably I myself to be honest have made various stages.
The first case is I have a belief; I just want to believe the best case scenario, now
I recognize and I put that down to a person who has a little or no due diligence. The second reason that the person makes mistakes
is they put in place the wrong finance, because it is a highly leverage business in money,
now the bank has come to the part in it is imperative that you get the right financial
structure implied and in most case if went to your local bank manager down the high street
they will not be able to actually assist you with finances specific finance specialist
who is dealing with property development is what you need. The third mistake that I see, because people
believe the best case scenario they have nothing allocated for contingencies. Will there be
dollar cents, there will be a cost around allocation of time but they want you to believe
this case happen, so if you get a five thousand dollars a price bill and you don’t have five
thousand dollars, they would kick you out of the game. When you fly a plane or when you fly in a
plane, that pilot is there for a reason and that’s for the worse case scenarios that what
we’re talking about in this scene. So in a lot of cases, the pilots got a great deal
but when I fly, I want the best qualified pilot in front of the plane in case something
happens that it can get down safely. So in developing’s, it is a lot similar than that,
they use the same analogy that it’s easy to get the plane up in the air but sometimes
you don’t know how to land it, you don’t want to come falling out of the sky, you want a
nice smooth landing, you don’t want a kangaroo hop down the run way. And my fourth common mistake that I see people
make is they have an unrealistic expectation of the time taken and the entire development,
times of each stage of development. If you deal for example with a local counsel
they may have a 72 hours’ time taken and they will return a phone call, maybe your expectation,
or you are expecting a phone call immediately, 72 hours later you’ll be a little frustrated,
so everything in my experience, it takes a lot longer than what it should and what is
similar like and you almost have to down grade your expectation for that. So this might be a tip or skill is needed.
If you are watching this video and you are thinking about changing your financial future,
one of the things that you have to do is to jump outside of your comfort zone, you have
to do something sometimes that are uncomfortable and that’s okay. One of the biggest skill I could teach a person,
I teach my kids all the time is to be decisive to make decisions and regardless of what you
make, may it be right or wrong is to keep making decisions. The more decisions you make
the more likely to be you will make the right decisions.
So right now, it is a chance for you guys to engage with me into making a decision and
get out of your comfort zone and do the hard thing. So I’d like you to do is to go and register
one of the Zadel Property Education events, it’s different so you will cost essentially
nothing just a little bit of your time and come along and you know what, come along and
say hello, if you’ve heard of me speak in the past, if you have read the book I wrote
with Steve then come and say good day and ask along with some of my theories with real
estate, I’m certain that I can help you guys make tremendous money and change your financial
destiny that you guys have. So if you prepare to take a chance on that
and step out of your comfort zone and do it and be decisive in making that decision, I’d
love to meet you in person one day. Until that time, this is Dave Bradley, bye
for now.


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