www.Brian--Linnekens.net

Brian Linnekens is the president of Global Innovation Development and has been involved with various aspects of real estate investment and development for over twenty years. This experience has taught Mr. Linnekens that every real estate development has certain similar aspects which must be considered to help ensure the success of the project.

These "success factors" can be divided in to four categories: (1) planning and construction, (2) marketing and leasing, (3) partnership and financing, and (4) an overall or general category.

With respect to planning and construction, Brian Linnekens believes that the following are critical to the success of a project: (1) site selection and the availability and contractual option to purchase adjacent land for additional development, (2) attention to "humanistic" design and high quality amenities, (3) proper project programming, including the mix of uses, development density, and profitable phasing, (4) dealing effectively with city officials, and (5) hiring experience contractors and consultants rather than just relying on the lowest bids. Mr. Linnekens believes that each of these elements highlight the fact that location, planning and execution are fundamentally important to the success of a real estate project.

In terms of marketing and leasing, Mr. Linnekens feel that a developer must: (1) start their marketing efforts early and aggressively, and (2) offer rental or sale concessions early. Many developers feel that they will increase their profits by holding out for the highest price right from the beginning; however, this can be a dangerous long-term strategy. Mr. Linnekens knows that an empty building is a project killer, and that strong product absorption essential. So even if it means forgoing a bit of profit on each individual unit or space, the benefit of strong early occupancy is well worth it.

Regarding financing, Mr. Linnekens indicates that developers must be certain to: (1) structure the deal terms to earn better returns than passive investors, (2) negotiate the strongest possible deal terms with the construction lenders, and (3) work with partners who have compatible personalities and styles. Mr. Linnekens has learned these lessons first hand having dealt with difficult partners and having seen project profits eaten up by overly expensive construction financing and passive returns. These elements can sometimes be difficult to achieve; however, having the proper partnership and financing structure can make the difference between success and failure.

In the overall category, Mr. Linnekens has found that it is critical for a successful developer to: (1) deal quickly with problems when they arise, (2) allowed excess time for unexpected or unplanned delays, and (3) rely on the advice of market experts, rather than personal ego, in making project decisions. Of particular importance is this third point. Many times a developer has a vision of what he or she would like to build and they relentlessly cling to that vision without allowing any flexibility in the face of market forces which may dictate revisions to the project programming or amenities. It is absolutely essential for every development to allow the market to dictate the character of the project, rather than the ego of the builder.

If a developer keeps these concepts in mind throughout the development cycle then the resulting project is far more likely to be successful. Mr. Linnekens consistently applies each of the principals and has found that the results speak for themselves.