19 Apr Property Development Management Made Easy
Are you dreaming of making it big as a property developer? If you’ve done your homework and decided that property development is the way for you to build wealth, you’re ready to start discovering the best options for you.
Six Essentials in Property Development
Property development can be incredibly lucrative, but you’ve got to be prepared for the reality of doing it on your own. To be successful as a property developer on your own, you need six things:
- Money: to purchase, develop, market, and hold the property; including a contingency budget.
- Vision: knowing what you want to achieve with a property and knowing how to maximise its potential.
- Patience: because things can go wrong at the worst possible time, and you have to deal with people (some who have big egos) who may let you down
- Resilience: because things can go wrong at the worst possible time (again), and drain you financially and emotionally.
- Knowledge: there are things you already know, things you don’t know… and things you didn’t even know you don’t know, as each project comes with its unique set of challenges.
- Time: not all projects run smoothly and on time, not all projects turn out to be the killer investments you anticipated, and the time between initial investment and a solid return, can be longer than you thought.
If that isn’t intimidating enough… once you say yes to a property development project, you have to do a lot of juggling and managing of a mix of professionals. Depending on the complexity of the project, you’ll be dealing with architects, town planners, engineers, building contractors, marketing specialists, real estate agents, accountants, lawyers, property managers and more. You’ll also need to educate yourself on the market, the property’s potential, construction processes, and marketing.
The challenge is that you are likely to run into a lot of conflicting information depending on who you talk to. All of the people you work with will each give you their opinion of a property, but in the end, who is right, and most importantly, who is considering your best interests?
Make it Big, The Easy Way
The good news is that property development doesn’t have to be this complicated and overwhelming.
What if you had a single point of contact, one ambassador, one source who can help you clarify your vision and bring it to life?
Your most important asset as a property developer can be your project manager: a property development management service, someone who has your best interests in mind, has intimate knowledge of the market as well as design and construction, and who can oversee a project all the way from coffee shop napkin doodle to cashing your first rental deposit.
You can make it big as a property developer, and avoid making costly rookie mistakes. If you’re serious about becoming a successful property developer, book a chat with White Gorilla Development, the leading property development management service in Sydney, Melbourne, Brisbane and Canberra – and save yourself time, headaches and money, and put the fun back into growing your wealth through property development.