Real estate development offers incredible opportunities but demands careful planning and preparation to avoid costly mistakes. Sonny Moyers explains why building the right team and conducting a thorough feasibility study are essential for success. He shares insights on navigating hidden costs, creating strong contracts, and avoiding common pitfalls that derail projects. Whether you’re an aspiring developer or an experienced investor, Sonny’s practical advice will help you build wealth and legacy in real estate.

Guest Bio

Sonny Moyers is a highly accomplished real estate professional with more than 50 years of experience. He holds a Bachelor of Science in Management and Communications and a Master of Science in Psychology from Abilene Christian University. As President of The Renaissance Group, Sonny has led one of the most successful real estate teams in the Dallas-Fort Worth area. His achievements include being named REALTOR® of the Year by the Dallas Builders Association and earning recognition as a top producer for over a decade. Known for his engaging speaking style and actionable strategies, Sonny is committed to helping others succeed in real estate.

Episode Highlights and Chapters

[00:01:00] The Two Paths to Development

EG outlines the two primary ways individuals enter real estate development: institutional training and independent projects.

[00:05:00] The Role of Feasibility Studies

A comprehensive feasibility study is crucial for any project. Sonny discusses how to evaluate costs, timelines, and risks to ensure a successful outcome.

[00:10:00] Building Your Support Team

Learn how to assemble a team of professionals—including architects, appraisers, and attorneys—to guide your project from start to finish.

[00:15:00] Identifying Hidden Costs

Sonny explains often-overlooked costs like holding expenses, insurance requirements, and unexpected contractor fees, and how to plan for them.

[00:22:00] The Power of Detailed Contracts

Protecting yourself starts with the right contracts. Sonny shares real-world examples of how clauses like liquidated damages can prevent project delays and financial loss.

[00:26:00] Lessons for Developers

Sonny wraps up with a call to action: start with a solid plan, work with knowledgeable professionals, and approach development with patience and diligence.

Contact Information

To learn more about Sonny Moyers and his work, visit his website: https://www.thearchitectureoftherealestatepractice.com/

YouTube: @AREP2023

LinkedIn: https://www.linkedin.com/in/theodeamoyersgroup/

For more episodes of Real Estate Development: Land to Legacy, visit Eugene Gershman’s podcast page: https://giscompanies.co/podcast/.