The Steps You Need To Take To Be An Expert Property Developer
Last updated 25th September 2018 • Ethan Mathews • JaeVee
It can first of all seem quite simple to forge a successful property development career. You find a run down house, snap it up at a bargain price, add value by doing it up and sell it on for a profit.
But is it really as simple as it seems?
Here are the steps you need to take to be an expert in property development.
Step One - Talk
Once you have decided that you wish to be a property developer the first step is to go out and talk to people. Estate agents, investors, financial experts, councillors, builders and property strategists.
Speak to those who have experience and can advise you accordingly.
If you have a property development idea then contact JaeVee today who may be able to help and get you started, or perhaps a training course or workshop is the first step you need to take to be an expert property developer.
Step Two – Finance
The next step you need to take to be an expert property developer is to organise your finances.
Can you really afford it? Can you make a profit? Will you be pre-approved for finance?
That way you will know if you are ready to purchase a property or not.
Step Three- Know Your Area
Knowing the market in your local area is the next step you need to take to be an expert property developer.
You need to know of the upcoming developments, how the local market is, if houses are selling or not and if the rental demand in the area is high.
What types of property are available and what local amenities do you have?
Step Four- Source Your Opportunities
You have spoken to others, got your finances in check and have been scouring the local area but the next step you need to take to be an expert property developer is to know where to source opportunities.
Property websites, estate agents, auctions, leaflets and social media are all great places to start to source new opportunities.
Don’t forget to check the JaeVee portal too!
Step Five – Diversify
One of the most spoken about steps you need to take to be an expert property developer is to diversify your portfolio.
Start by looking at different types of property, different opportunities such as commercial or industrial properties to minimise your losses and gain experience.
For more information, please visit our blog.