The Business Of Building! The Art Of Real Estate Development

The business of building! The art of real estate development.

Welcome back to "Inspired To Invest". This week, Adam Altobelli is with us from The GeoFocus Group for episode 92.

To watch rather than listen, click here.

From construction site kid to real estate development leader, Adam's journey offers a masterclass in navigating the complex world of construction management and development. 

As President of both the GeoFocus Group and Buy Dirt Developments, Adam brings a rare combination of hands-on experience and strategic vision to every project he touches.

The backbone of Adam's approach is construction management—a collaborative model that stands in contrast to traditional general contracting. 

"We find that general contracting is more confrontational, whereas construction managers work as collaborative partners focused on maximizing efficiencies," Adam explains. 

This philosophy has made his companies the go-to resource for both newcomers to development and seasoned professionals venturing into unfamiliar territory.

What truly sets Adam's work apart is his expertise in rescuing troubled projects. Having weathered both the 2007-2008 financial crisis and the COVID pandemic's hyperinflation, he's developed an uncanny ability to identify red flags before they become project-killers. 

His most valuable advice? "Bad news early is good news"—a mantra that emphasizes transparent communication at every stage of development.

For those looking to enter the market today, Adam points to the "missing middle" of purpose-built rentals (particularly developments with 10 units or fewer) as a prime opportunity. 

While acquisition costs vary dramatically across markets from Toronto to Florida, these smaller multifamily projects offer compelling returns with manageable risk profiles.

Perhaps most refreshing is Adam's perspective on ego in an industry notorious for big personalities. 

"Taking ego out of everything has been my toughest lesson," he admits. "Sometimes we have to tell clients their project isn't working, and they should walk away. 

Those are tough conversations, but essential for long-term success."

Whether you're a first-time developer or an experienced investor looking to pivot your portfolio, Adam's insights offer invaluable guidance for navigating today's challenging real estate landscape. 

Thank you to Adam's company, The GeoFocus Group for bringing us this month's episodes. To learn more, go to https://thegeofocusgroup.com. 

“Inspired to Invest” is proud to support the Beyond Success Program, a not-for-profit financial literacy program for students, launched by More To Give & MAK Investments. Find out more at @more2give.ca.

Join us again for our next episode May. 7.

Thank you for tuning into “Inspired To Invest”, hosted by Serena Holmes  & remember, "when you invest in yourself, the sky's the limit!"

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