How to be a Property Developer

STEP 1:
Getting Started In Property Development

There are number of things you must take care of before you even think how to become a property developer. If you are wondering whether now is a good time to develop or not, the answer is yes! Now is a great time to get started in property development. “Boom” periods are not always the best times for serious property developers. In our property development course, you will learn the two skills you need to guarantee your property development success. You will also know the two essential ingredients necessary for property development. What you need on how to become a property developer are not fancy qualifications or a ton of money behind you. There are eight skills that anyone can develop with the right help. Property Mastermind is your trusted partner in how to become a property developer.

STEP 2:

The Property Development Process and the Property Development Team

Successful property development is all about two functions—managing people and managing processes. Your journey in becoming a successful property developer will largely depend on selecting the right team and managing them effectively. Property Mastermind’s property development course will teach you proven strategies for finding the right people and putting together your own “dream team.”

STEP 3:

Finding the Right Development Site

The next step in how to become a property developer is finding a suitable site. This is a critical step and there are traps for the unwary. The features of the site must be attractive so that you won’t end up wasting time, energy, and money. Property Mastermind’s property development course will provide you secrets in finding attractive sites before they ever come onto market.

STEP 4:

Financial Feasibility Analysis

If there's one area where rookie property developers trip up (even those with some experience), it's in this critical stage of the financial feasibility analysis. In other words—crunching the numbers. In a nutshell, the financial feasibility analysis is where you'll discover if a project is worth doing or not. Whether there's enough profit in the deal or whether you should move on and look at something else. And remember, the name of the game is making money…lots of it!

STEP 5:

Due Diligence and Purchasing a Site

Now that you've found a site with potential and that can be developed profitably, you're probably raring to go and secure your site. But before committing to a deal, it's essential to carry out what's called ``due diligence``. That means digging a little deeper to uncover potential risks that could derail your project. Once you've completed your due diligence and there are no red flags, it's time to secure the site. That involves both legal aspects and financing the deal.

STEP 6:

Development Finance

Before signing on the dotted line for the site you've selected, you will need to have funding lined up for your project. There are two types of finance here—one to buy the property and a slightly different kind to get the project financed once you have the approvals. You need to get this right. Property Mastermind’s property development course will provide you a system to get the funds that you need. We will also be sharing the secrets of getting the right kind of financing on the most advantageous terms.

STEP 7:

Valuations

Next to financing, valuation is one of the two areas developers tend to trip up. These two are linked because the amount a lender will provide is related to the valuation. Now the valuation is, as you might expect, the amount an independent expert (no surprise that they are known the ``Valuer``) reckons a property or development is worth. And because with a property development we're dealing with something that doesn't yet exist, there can be significant differences in valuations. A lower than expected valuation can cause you BIG PROBLEMS. But you won't have to worry much about that when you follow our simple guidelines, which is provided in Property Mastermind’s property development course.

STEP 8:

Design

FACT: Appealing, cost effective design will add plenty to your bottom line profit. But remember, what counts is what your target market finds attractive. Many rookie developers build according to their own ideas of taste and style and then wonder why they end up stuck with properties nobody wants! A good design will make all the difference to the success of your property development. Make sure you find the right architect for the job!

STEP 9:

Local Authority Permits

If you're new to property development, you may dread the thought of having to deal with local councils. You may have heard stories of how developments have been held up for long periods of time. But the truth is, it's usually because the developer has made mistakes that could easily have been avoided. In our property development course, we will provide you guidelines that will help you get the permits that you need with the minimum amount of fuss or delay. We will also share with you what local authorities generally look for when they assess an application.

STEP 10:

Marketing

You bank your profits in property development either when you've sold the property or refinanced the stock you intend to hold yourself. So marketing your development is an essential part of the pathway to profits. Smart developers don't wait until the project is complete before starting to market the project. As you'll discover, there are numerous advantages when you do this. You will learn the top secrets of marketing for real estate developers when you join our property development course.

STEP 11:

Construction and Project Management

Now we come to the actual construction and building of your development. If you've followed Property Mastermind’s blueprint up until this point, most of the hard work has already been done. Remember that you don’t have to be an expert builder yourself. Simply make sure you hire the right builder and this stage should not require too much of your time.

STEP 12:

Settlement

Once construction is complete, you're almost home. But before you can collect your profits, there's one final stage to complete: SETTLEMENT. Settlement involves completing all the final paperwork and inspections so that you have recognised ownership and can sell your completed development. It's important that this goes smoothly because the sooner settlement is complete, the sooner the cash will be in your bank account. Every day that settlement is delayed could be costing you hundreds, even thousands of dollars. So it’s important to get this right.

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