Our final speaker for the day was Jessica Joly. Jessica
works as a development manager for Stiles. Jessica graduated in University of
New Orleans in Marketing and Business Administration; she then acquired a
Masters degree in Real Estate Development at Nova Southeastern University.
Jessica assist in owner representation for commercial real estate development
project. Her responsibilities include working with development managers on
project planning and coordination, due diligence, obtaining government approvals
and financial feasibility analysis.
Jessica
basically went through the whole process of explaining how she handled a
development of a retail center anchored by Publix. Jessica’s presentation was
very interesting, in this particular development she ran into many unforeseen
events, which was, what I thought, the most interesting aspect of the
presentation because it showed me that anything can come up when it comes to
development. Jessica works for one of the biggest real estate companies in
South Florida and even with that knowledge and power backing her up she still
ran into many issues that were unexpected and threw off her financial
projections. This is a lesson that has to be learned in this business, because
even if you do a very thorough due diligence other issues may pop up all of the
sudden. In Jessica’s case when the GC was excavating he found a pipe that had
to be relocated and cost them extra money. Due diligence can be the most
important task when it comes to site acquisition.
Jessica seemed
really smart and experienced. I really enjoyed her presentation and it
reinforced valuable lesson that I already knew, before acquiring any piece of
land, make sure you do your due diligence extensively and make sure you solve
any problem that pops up before acquiring a site, this will help you mitigate
your risk, but it wont assure you something else might come up, nothing will.
No comments:
Post a Comment