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  1. #21

    Post 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.

  2. #22

    Default

    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.

  3. #23

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    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.

  4. #24

    Default

    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.

  5. #25

    Default

    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.

  6. #26
    Join Date
    Oct 2015
    Posts
    26

    Default

    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.

  7. #27

    Default 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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