62 - From Architect to Developer: Managing $350M Projects with Antonia Botero

🚨MY NEWSLETTER https://nikolas-newsletter-241a64.beehiiv.com/subscribe 🚨Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Antonia Patero (https://x.com/antonia_mdprjct), founder of MADD Project, a commercial real estate development management company. Antonia shares her journey from architecture to development and explains how her firm handles everything from concept to completion for large-scale commercial projects. In this episode, we discuss how development fees can misalign incentives and why understanding market data and financial structuring is crucial before engaging a design team. Questions this Episode Answers:What is the transition from architecture to development like?How do development fees work in large-scale projects?Why can misalignment of incentives be an issue in real estate?What role does market data play in successful development projects?How can developers better structure projects for investors?___________________________Love it or hate it, I'd love your feedback.Please fill out this brief survey with your opinion or send me an email at [email protected] with your thoughts.___________________________Spotify: https://tinyurl.com/5avyu98yApple: https://tinyurl.com/bdxbr284YouTube: https://tinyurl.com/nikonomicsYT___________________________This week we covered:00:00 Highlights00:44 Meet Antonia Botero: From Architecture to Development01:27 Understanding Development Fees and Market Data02:00 Comparing Commercial and Residential Projects03:08 The Role of an Architect in Development04:55 Market Analysis and Financial Structuring07:10 Antonia's Career Journey and Starting Mad Project10:44 Economic Incentives and Development Fees20:35 The Million Dollar Team Dilemma20:43 The Value of Project-Based Hiring20:56 Challenges of In-House Teams21:24 The Better Model for Managing Fees22:59 Starting a Company in 201725:05 Navigating COVID-19 Challenges26:58 Customer Acquisition Strategies27:45 The Importance of Word of Mouth30:25 Managing Projects Across the Country32:23 Rapid Fire Questions36:21 Final Thoughts and Contact Information