9/9/2020
A Guide to Getting Started in Real Estate Development | Lane Lowry | Real Estate Development
a A Guide to Getting Started in Real Estate Development by Lane Lowry | Sep 9, 2020 | Real Estate Development
Real estate is known to be a lucrative industry, and many are eager to get started. After watching a fair share of HGTV, it’s easy to get swept up in the idea of getting involved in real estate development. However, not many people know where to begin or how it all works. There are significant risks to real estate development, but also high rewards. Here’s a guide to getting started in real estate development: Understand of the Responsibilities Before jumping into real estate development, it’s important to understand what a developer does and their responsibilities. As a developer, you will oversee the development and redevelopment of properties from start to finish, locate land for projects, execute and fund projects, obtain permits, negotiate deals, and attend public hearings to get public approvals. Education and Experience
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9/9/2020
A Guide to Getting Started in Real Estate Development | Lane Lowry | Real Estate Development
While there is no specific path to becoming a developer, it is important to have a certain level of experience in areas. This could be construction, architecture, law, finance, or urban planning. In regards to education, consider having a bachelor’s degree in real estate, business, finance, or another related field. A real estate developer should also have the skill to plan and organize projects as well as have an entrepreneurial mindset. Most importantly, before getting started on your first development, get your real estate license. Jobs in Real Estate Development To find a job in real estate development, there are many different paths you can take. You can consider taking the role of a real estate sales associate, developer analyst, or architectural designer for entry-level positions. Once you have gained more experience, you can become a senior consultant, project manager, or real estate broker. Executive or senior positions in real estate development include principal product manager, senior investment analyst, or Chief Risk Officer. Building Your Network When getting involved in real estate, it’s essential to have a network of professionals across different fields. As a real estate developer, it would be your responsibility to recruit, hire, and manage this network. Your network can include trusted contractors, engineers, architects, asset managers, or even appraisers. Building up this network of professionals will make your job as a real estate developer much more manageable.
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