Looking for experience and thoughts on working for a developer who has a small balance sheet.
They forward fund all developments and only spend money on getting land under exclusivity to work through planning and find funding partner in parallel. Pay structure is good base and 4-6% net profit in all deals worked on.
I like how entrepreneurial the opportunity is and I would be more of a capital market role - site acquisition, funding partner and disposals - than construction management. But they have delayed the role as one sale didn’t go through and they had to worry about bills. Seems very risky albeit excitingly entrepreneurial.
Deal wise I assume they make their profit on land value uplift, DM fee, profit baked into FF pricing and then maybe a promote if JV.
It would be appreciated if anyone could shine some light on their experience working for such a developer.
Company has been around since before 2000 and works in several sectors with a lean team (20 people). Good rep in market. Almost exclusively works on off-market deals as bigger developers (Panattoni, prologis etc) outbid on land.
