Thread: Real Estate Development Busniss

Originally Posted by Phils Property Deals

Buy a property to develop would be a start. Hopefully you already have some knowledge of what you are doing. Start small with a block of land you can simply subdivide, keep one block and sell the other/s. Once you have sucessfully done that then look into a larger parcel of land. Once you have conquered this then look to build and develop. If you can't do a simple subdivision first then working with builders and councils in a bigger development will be an absolute nightmare for you. Start small and build your knowledge and skills.

So would it be best to first buy a piece of land or to buy a property when starting out?

If I do buy a house and rehabilitate it, should I wait until equity build s up to sell it, or should I sell it right when I finished developing it?

Do you know any websites or anything at all that would help me out?

Start small. Keep to your budget. Look at what developments are selling and stick to the formula. You may want to start doing fixer-uppers.

First you need to get familiar with basic construction equipment and building materials. Once you are familiar with basic construction you need to figure out exactly who is your target wether it be commercial or residential. Once you have decided on a target YOU NEED TO DO YOUR DD (due diligience) know the growth, know how much tax is being collected, and get to know people. You may have built the greatest shopping mall or the greatest home but if it left empty or in the wrong sector at the wrong time it is just an empty shell.

The more tools under your belt the better you are off. Simple renovations are great practice exercises to get to know how contracters work and what are some of the common materials used in your area or state. You need to keep up to date on rules.

Visiting district or county meetings about up and comming develpment projects is a good way to get to know common issues and opposition from people.

In my opinion I will like to say that doing real estate business is a nice thing.This helps a person a lot in future.I suggests that you should do it.Thanks for sharing.

The first thing you need to do is locate a source of money to finance the purchase of some real estate.

And also the right professional and duly licensed realtor to help you out on your plan in terms of the property/ housing market.

We all know very well that real estate buisiness is very profitable business and it becomes very popular from last many years.It requires more money to invest in a real estate.