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  • EricBurkholz01
    replied
    Real estate development

    Really great posts. There's so much to learn in this area. In my industry I would rely on an investor to do this for me. Like a REIT rather than do it myself. Grant Cardone gets people like this all the time for his investments they give him the funding, and he uses their investment. It's amazing to see the sale.

    He's a genius salesman. He built this all in house and by hand on his own. Very smart and hard working. Some of these real estate contacts get better returns than life insurance does. I would recommend taking a look at bigger pockets have some really great advice on this subject.

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  • jacobholtz40
    replied
    I would first go and fixed my finance as a developer. Check my affordability and if i require any finance then i would analyze the market for financial support. Then i will take all my budget in my mind and go for the planning for my business and then check out my expenditure.

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  • StellaJefferson
    replied
    Choose a location that is zoned for commercial development and find out how it is zoned:
    You can find out how a lot is zoned by checking with your city's zoning and planning division.
    Make sure the location allows for easy access for the traffic that will be attracted by the new development.
    Find out what other development and infrastructural plans exist for the area. For example, if a new highway is planned, it will allow for more traffic, which could be beneficial for the commercial property, but if existing commercial real estate is going to be demolished to create a park or residential buildings, this could adversely affect the attraction of your commercial development.

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  • StellaJefferson
    replied
    Secure the financing to develop commercial real estate:
    This can be in the form of a business loan, investments by investment companies or private investors, or a combination of both.

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  • StellaJefferson
    replied
    Lay Down a Good Plan:
    You need to do some careful planning before you jump into any type of property dealing. Even though plans can go wrong at times, proper planning from the start will help you to ascertain success. Do some research about the area you have plans on buying a property. Ask the locals in the area about its accessibility and certain problems that you need to be aware of.

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  • StellaJefferson
    replied
    Let me share the steps with you in order.
    Decide what type of commercial real estate you want to develop:
    The kind of businesses you lease or sell the property to will all have their own set of demands for the property, and you must be able to cater to that market by providing the right location, trustworthy contractors, and efficient property management.
    The most common types of commercial real estate you can develop are office buildings or office parks, industrial and warehouse real estate, and retail centers. Within each category there are a number of standard developments that may or may not be right for the type of commercial property you want to develop.

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  • StellaJefferson
    replied
    Real Estate Development

    Developing commercial real estate is a challenging business endeavor that requires not only a significant financial investment, but also a sound understanding of commercial tenants' requirements, as well as zoning laws and project management. In addition, because developing commercial real estate involves negotiations with local authorities, representatives of local residents and business owners, as well as with the contractors who perform the architectural designs, construction work, and landscaping, good interpersonal and diplomacy skills are a major requirement. For entrepreneurs who possess the resources and skills, developing commercial real estate can offer an extremely rewarding business opportunity and pave the way to a long and lucrative career.

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  • Damap
    replied
    All takes is absence of grammar good and strong desire to wealth grow in USA Wayne, you know that!

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  • Wayne
    replied
    I'm impressed how this thread pops alive every couple of years.
    8 years and still going.

    Did the hotel ever get developed?
    Now that things are getting better did the condos happen?

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  • Moses Opondo
    replied
    How about developing the property in phases.Start by doing something small with the finance you can get, allow it to build equity then move to the next phase until you develop the whole property.

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  • Alliee
    replied
    Thank you guys...This post was very informative.

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  • Damap
    replied
    But do they affect the effect bad or just the badly effect?

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  • jummy125
    replied
    economical crises are badly effect on the growth of Real estate

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  • Fox
    replied
    Originally posted by Fox View Post
    Well, actually, I am afraid of the investing in the real estate at a large scale coz one of my friends has a
    very bad experience with it. He lost his every peny!
    Can you justify it.
    Chicago Health Club

    Leave a comment:


  • Tan
    replied
    In any industry there are examples of bad experiences. Think of it as a free learning experience for you .

    Leave a comment:

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