30 Oct Behind the Scenes: Toronto’s Real Estate Development Industry
With the Toronto real estate market booming, real estate developers have a world of details and know-how to navigate. We’ve reached out to Mr. Jason Birnboim of Beaux Properties to give us an overview of the intense Toronto real estate industry. Whether you’re a home buyer planning on moving to Toronto, or an aspiring developer, Jason’s answers will shed some light on the local situation.
What is the single most difficult part of a real estate developer’s job?
Development, in my experience, is typically two steps forward and one step back. You need to constantly monitor and oversee so many different components at once. There’s always a risk of something going wrong beyond your immediate control. Essentially I’m referring to the concept of risk management.
In addition, managing cash flow is critical. Only undertaking projects that are well capitalized is imperative if you hope to survive. In development you need to expect the unexpected, routinely.
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