Rod Malyshev Fractional Development Manager
I run predevelopment from site control to construction start, and own the numbers along the way.
Developers and capital partners bring me in to lead the work between an LOI and a shovel: assembling and managing the consultant team, driving due diligence, entitlements and utilities, and producing the cost estimate, financial model, budget, schedule and reporting the capital side relies on. One accountable lead instead of a dozen loosely managed consultants.
Who this is for
Who brings in a fractional development manager
Developers and sponsors
A lead for a project your team does not have bandwidth for, or a new asset class or market where you need someone who has run the process before.
Capital partners and JVs
An independent manager who keeps the budget, schedule and consultant scope honest, and reports to you in a format your investment committee can use.
Landowners and operators
Someone to turn a site into a financeable project: diligence, entitlements, utilities, cost and a model a lender or equity partner will take seriously.
What I do
One lead across diligence, entitlement, cost and capital
I can run the full predevelopment program or take the pieces you need. Underwriting and modeling are part of the job, not a separate hire.
Predevelopment and due diligence management
Every diligence item tracked to a deliverable, an owner and a date.
- Responsibility matrix and budget line for every workstream
- Title, survey, geotechnical, environmental and floodplain diligence managed to completion
- Regulatory confirmations in writing (county, city, state agencies)
- Red-flag log with cost and schedule impact
Consultant team assembly and RFPs
The right specialists, scoped tightly and held to it.
- Vendor research, vetting and shortlists by discipline
- RFPs, scope letters and bid comparison
- Civil, survey, geotech, environmental, traffic, MEP and design consultants
- Weekly coordination so scopes do not overlap or leave gaps
Entitlements, permitting and utilities
The path from raw site to permit, without surprises.
- Zoning, platting and county or city permit matrix
- Utility will-serve letters and engineering liaison (power, gas, water, sewer, fiber)
- Easements, right-of-way and crossing permits
- Fire marshal and agency coordination
Cost estimate and financial model
Built by the person who manages the work, so they match.
- Conceptual through schematic cost estimates and demolition estimates
- Development pro forma, sources and uses, returns and waterfall
- Reconciling consultant and contractor pricing to the model
- Model and estimate packages for the lender's independent engineer
Budget, schedule and reporting
One version of the truth for owners and capital partners.
- Predevelopment budget tracking against approved lines
- Integrated schedule across consultants and agencies
- Monthly reporting with variance and risk commentary
- Investor and lender decks and committee summaries
Underwriting and asset analysis
The analyst work, done by the lead.
- Acquisition, development and value-add underwriting
- Sensitivity and downside testing
- Capital stack and debt sizing
- Market, rent and cost benchmarking
Predevelopment, workstream by workstream
What I own and what I coordinate
A recent North Texas powered-land predevelopment shows the range: 36 budget lines across six workstreams, with my role defined line by line. The same structure applies to multifamily, industrial and mixed-use sites.
Site control, title and legal
- CoordinateTitle commitment and curative support
- CoordinateRegulatory confirmations from state and local agencies
- CoordinateMineral rights and surface-use review
Utilities and power
- CoordinateUtility coordination and engineering liaison
- CoordinatePower and electrical engineering scope
- OwnGas interconnection and specialty vendor vetting and RFPs
- CoordinateEasements, right-of-way and crossing studies
Site, civil, water and survey
- CoordinateCivil and site engineering
- CoordinateGeotechnical investigation
- CoordinateALTA and boundary survey
- CoordinateWater, fire suppression, floodplain and drainage
- CoordinateTraffic and septic where required
Environmental
- CoordinatePhase I and Phase II environmental
- CoordinateProtected species and cultural resources screening
- CoordinateExisting structures hazmat survey
- OwnDemolition cost estimate
Design and entitlement
- CoordinateConceptual and schematic design
- OwnDesign-phase cost estimating
- CoordinatePreliminary structural engineering
- CoordinateCounty permitting and entitlement coordination
Capital, reporting and administration
- OwnCost estimate and financial model for the capital partner
- CoordinateAppraisal to support the land contribution
- OwnBudget tracking, schedule and reporting
- OwnInvestor pitch decks
- OwnConsultant coordination across all workstreams
Each line in the matrix carries a budget, a vetted shortlist of firms and a defined deliverable. Legal, insurance and capital raise stay with the client's counsel and brokers.
What you receive
Packages a capital partner can underwrite
Predevelopment ends with a financeable project, not a folder of consultant reports.
- Responsibility matrix and predevelopment budget
- Cost estimate and fully formula-driven financial model
- Integrated schedule and risk log
- Investor or lender deck and committee summary
Selected work
Recent development and underwriting work
224-unit multifamily
North Myrtle Beach, SC. Acquisition underwriting and pro forma.
Nine-building industrial park
Houston, TX. Development underwriting and pro forma.
20-unit short-term rental resort
Charles Town, WV. Development underwriting and pro forma.
Client feedback
What clients say
He analyzed and leveled conceptual bids, identified scope gaps, and developed detailed questions to ensure an apples-to-apples comparison. He also refined and continuously updated our financial proforma to reflect the latest return projections while creating an exceptional, comprehensive investor pitch deck.
My firm was so fortunate to find Rod and we will use him exclusively in the future. His knowledge and manner of explaining the specifics of each transaction were phenomenal and he clearly knows how to underwrite real estate assets.
Rod did a terrific job in organizing our construction budgeting and oversight processes for our growing loan portfolio. He has been diligent on setting up systems to reduce the potential for errors and ensure we have consistency and the ability to spot potential problems early on.
Rod delivered a solid underwriting model and cost analysis that gave me a clear baseline for evaluating the project. His work was well organized, assumptions were transparent, and he communicated clearly throughout.
Questions
Common questions
What does a fractional development manager do?
Runs the project between site control and construction start on the owner's behalf: builds the predevelopment budget and schedule, hires and manages the consultants, drives diligence, entitlements and utilities, and produces the cost estimate, model and reporting that capital partners need. Fractional means you get that lead without a full-time hire.
How is this different from an owner's rep?
An owner's rep usually starts once a contractor is being selected and focuses on construction. A development manager starts earlier, at site control, and owns the path to a financeable, permitted project. I do both, so the handoff from predevelopment to construction stays with one person.
Do you still do underwriting and modeling on its own?
Yes. Many engagements are a model, an underwriting review or a lender package. It sits under this service because the analysis is one piece of running a development.
Which project types and markets?
Multifamily, industrial, mixed-use, hospitality, self storage, powered land and data center sites, and commercial tenant improvements. Recent work spans Dallas-Fort Worth, Austin and Houston, plus projects in other states.
Tell me about the site
Where it stands, who is on the team so far and what the capital partner needs. I will tell you what I would do first.
Book a call