As a development project goes on, the costs of taking that project to completion go down. At the same time, the risks of any development project that you've been taking a gamble on are going to decrease as the project progresses in most cases. This means that it's a good idea to do an equity redraw when you're in the middle of your projects so that you can access some more capital to smooth out the cash flow while the project is still in the works. Experiment with various financial projects like a mezzanine loan to learn how financing can be exploited by your projects.
Know how to manage your scheduling
The best way to enjoy a lot of success as a developer is to be able to schedule multiple projects at the same time. These multiples projects should be scheduled to be in the planning stage or in the construction phase around the same time. If your property development cash flow is limited, the "equity redraw" strategy mentioned above may help you to get the capital you need to handle more than one project at a time.
Take your profits and reinvest them in other areas
Anyone who knows anything about business knows how important diversifying is. You can protect yourself from the risks of engaging in property development projects by taking the profits you receive and investing them in parallel development activities. For example, you can create some income through a rent roll or by hiring out some equipment that you use. This will keep you bringing money in regardless of the condition of the real estate market at any given moment.
Know how to argue for the best possible settlement terms for you
Negotiation is obviously a key ingredient to reaching favorable settlement terms. If you're good, you may be able to negotiate terms that allow you to put off actually paying for your property until after approval risks have passed. This is a great strategy when it comes to development site finance.
Minimize your overhead costs
If you're looking for ways to keep overhead costs down as you engage in development projects, consider hiring consultants for various projects who are specially equipped to advise you on price cutting. This is advantageous in a variety of ways. Perhaps most importantly, hiring project specific consultants for single projects will give you specialized expertise when you need it without requiring you to pay the ongoing salary that could be necessary if you used the same consultant for multiple projects.