On Friday, September 21^st, ULI Philadelphia hosted a pilot program at Stradley Ronon featuring Alan Razak, Principal at AthenianRazak LLC and Chair for Mission Advancement of ULI Philadelphia and David Farmer, CEO of Metro Forecasting Models and Past Chair of ULI Southwest Florida for a seminar on Friday, September 21th.  Razak and Farmer, both industry veterans, shared their best practices for starting and operating a successful a real estate development enterprise. The seminar covered a broad range of topics from the fundamentals of developing a business plan to avoiding the risks associated with cross collateralization.

The audience gained practical insight on how to structure LLCs and develop operating budgets, in addition to learning how to perform a personal assessment and how that assessment can affect one’s business plan. Both presenters were able to provide specific, relatable examples within their business to supplement the information in the presentation. The seminar gave anyone looking to start their own development business strong foundational principles to work from.

Contributed by Erika Renee Cox, Assistant Project Manager at Avison Young and member of the ULI Philadelphia Young Leader’s Council