How to Be a Land Developer
Becoming a land developer not only requires a substantial capital, but a lot of experience as well. Moreoever, you need to have several contacts, which can be useful if you face issues. While every business has risks involved, land development is riskier than most due to large investments. However, if everything goes smoothly, the payoff is equally large. If you have the experience, the capital, the contacts and the workforce, you can definitely become a successful land developer.
Instructions
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1
Improve your ties with lenders
Undoubtedly, strong relations with lenders are key to success in the land developing business. Therefore, you must try to locate reputable lenders. For this, you can search over the internet and meet them in person. On the other hand, you can ask for referrals from your friends and family members as this can help you to get in touch with a suitable person. Your relation with a lender will not only depend on your attitude but how many resources you have. For a business like land development, you will be required to have considerable capital and expertise. -
2
Choose the land
Now, you must choose land and plan how you want to develop it. For this, you will be required to make a feasibility report. You will need to assess whether the land will be suitable for residential development or commercial ventures, before you start development. -
3
Run tests on your land
Before starting any development work, you must run several tests on the land to ensure that it is viable for use. You should run the rock test on the land along with testing the feasibility of the sewerage system. -
4
Visit real estate offices
In order to find a good package, it is strongly recommended that you visit the local real estate offices. These will not only assist you in finding a suitable location and land but they can also prove fruitful in giving you a preliminary analysis. You should never undervalue the importance of a cost-benefit analysis, which is essential before any work can begin. -
5
Find a reputed builder
Once you have everything mapped out, you will need builders to take over and deliver what you require. If you have already been in the business, you can use your own contacts, if not, you may have to research and take referrals from others.
