Building a Repeatable Model for Success in Land Development with Michael Wayne
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Episode Overview
In this episode of The Land Development Podcast, host Ryan Glick sits down with Michael Wayne, the principal at Detroit Riverside Capital. Michael shares his path from consulting to real estate development, detailing how he made the transition from a traditional 9-to-5 role into full-time entrepreneurship. Michael’s story starts with a major infill project in downtown Auburn Hills. He talks about the early hurdles of pitching investors for his first deal and how surrounding himself with knowledgeable industry partners was key to his success.
Michael dives into the intricacies of launching a development business, emphasizing the importance of leveraging existing networks, especially when sourcing contractors, architects, and engineers. He outlines the challenges of navigating regulatory requirements and building long-term relationships with investors. Throughout the conversation, Michael offers insights into what it takes to maintain and grow a successful real estate business, along with his focus on scaling projects that are repeatable and adaptable across regions.
The episode also explores Michael’s approach to risk-taking, particularly when securing funding and managing construction projects. He discusses how his company shifted from mixed-use urban developments to suburban multifamily projects, targeting empty nesters and other demographics seeking maintenance-free living options.