It’s no surprise that people aspire to have their own property development business. It’s an opportunity to earn great money, but it’s also a great place for people to become creative and you don’t need any expert qualifications.
We have created a list of tips and tricks to get you well on your way to becoming a property developer.
Create a business plan and be sure to stick to it!
The most important thing is to create a clear business plan. This will help you decide targets and devise ways of meeting them, especially when it comes to returning on investment.
You should also note that the costs of the project will go well over the price of the property as you will need to pay for refurbishment, surveyors and estate agents. When you’re starting a project, you will need various loans.
The first loan is the buy the land that the project will be on, the next is a development loan to cover all building work. However, if you’re working on a refurbishment project, you will need a development loan to cover all costs.
Keep the buyer in mind
Throughout any time of your project, you must think about the needs of the people you’re trying to sell it to. You must separate the refurbishment from your own tastes and go with what other people would want.