Real Estate Development: The Curtis Way

Before a shovel ever hits the ground, every successful real estate development starts with a proforma.In this episode of the RMS Real Estate Development Podcast, Curtis Way and Dan Demers break down one of the most important tools in development: the apartment proforma. From land costs and construction budgets to financing, operating expenses, rental assumptions, and long-term returns, they walk through the numbers developers use to determine whether a project is viable.The discussion covers how proformas help identify risk, why they must be continually updated throughout the development process, and some of the common mistakes that can lead to costly surprises.Topics include:Land acquisition and off-site costsConstruction budgeting and contingenciesSoft costs, consultants, and legal feesCMHC financing and mortgage insurance feesMarketing and lease-up costsRental assumptions and vacancy ratesOperating expenses and property taxesCap rates, valuation, and investment returnsCash-on-cash return versus internal rate of return (IRR)Why developers need to be realistic with their numbersWhether you're an aspiring developer, investor, lender, or simply curious about how real estate projects are evaluated, this episode provides a practical look at the financial framework behind apartment development.One lesson stands above all others: a proforma is only valuable if you're honest with yourself about the assumptions behind it.To learn more about the RMS Group, please visit: https://rms-group.ca/This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

In Episode 2 of the RMS Real Estate Development Podcast, Curtis Way is joined by RMS Executive Vice President Dan Demers for a practical deep dive into the apartment development process.From finding the right site and navigating municipal approvals to financing, consultants, construction contracts, and lease-up, this episode walks through the real-world steps involved in bringing a multifamily project to life.The conversation covers:How developers evaluate and select apartment sitesWhy “beauty is in the eye of the beholder” in real estateThe importance of zoning, environmental reports, and geotechnical studiesWorking with architects, engineers, lawyers, and consultantsCMHC financing and the realities of today’s lending environmentDevelopment permits, appeals, and municipal challengesConstruction contracts, liens, contingencies, and risk mitigationLease-up strategy, carrying costs, and deciding whether to hold or sell a buildingCurtis and Dan also share stories from their own experience developing multifamily projects across Western Canada, along with practical lessons for aspiring developers looking to avoid costly mistakes.Whether you’re considering your first development project or simply want a better understanding of how apartment buildings actually get built, this episode offers a candid look at the process behind the scenes.To learn more about the RMS Group, please visit: https://rms-group.ca/This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

In the debut episode of the RMS Podcast, RMS Group CEO Curtis Way and President Laura Way-Olenek introduce the series and share the stories behind how they got started in real estate development.From Curtis’ early days as a carpenter and project manager to building apartments, shopping centres, industrial projects, and large-scale multifamily developments across Western Canada, this episode explores the realities of becoming a developer and the lessons learned along the way.The conversation covers:How real estate developers actually get startedWhy risk management is critical in developmentThe importance of asking questions and learning through experiencePartnerships, financing, and protecting your futureConstruction challenges and lessons from the fieldHow RMS evolved from northern industrial projects into multifamily developmentWhy “you don’t know what you don’t know” is one of the biggest lessons in the businessThis episode also previews upcoming conversations on proformas, financing, CMHC, construction, legal issues, market trends, and property management.Whether you're an aspiring developer, investor, entrepreneur, or simply curious about how buildings come to life, this series offers a behind-the-scenes look at the business of real estate development.To learn more about the RMS Group, please visit: https://rms-group.ca/ This series was produced by Road 55 in Edmonton, Alberta – Learn more at: road55.ca

Pilot episode overview. Join us for future episodes soon! Ever looked at a vacant piece of land and wondered how it becomes an apartment building, shopping centre, or thriving commercial property?Join the team at RMS Group as they pull back the curtain on the world of real estate development. Through conversations with developers, investors, lenders, brokers, lawyers, property managers, and construction professionals, we'll explore the wins, the mistakes, the risks, and the opportunities behind every project.From proformas and financing to market cycles, approvals, construction, and property management, this podcast is designed for aspiring developers, experienced investors, and anyone interested in how great real estate projects get built.Real stories. Real deals. Real lessons from the people doing the work every day.