Benefits of becoming a real estate developer

Benefits​ ​of​ ​Becoming​ ​a​ ​Real​ ​Estate​ ​Developer Let’s​ ​take​ ​a​ ​look​ ​at​ ​the​ ​benefits​ ​of​ ​becoming​ ​a​ ​property​ ​developer:Huge​ ​Profits:​​ ​you​ ​can​ ​earn​ ​huge​ ​profits​ ​by​ ​selling​ ​your​ ​real​ ​estate​ ​development​ ​projects.

Easier​ ​finance​:​ ​After​ ​successful​ ​completion​ ​of​ ​your​ ​development​ ​project​ ​you​ ​can​ ​apply​ ​for re​ ​mortgage​ ​for​ ​your​ ​properties.

Tax​ ​benefits:​​ ​benefits​ ​of​ ​depreciation​ ​allowances​ ​offer​ ​you​ ​a​ ​great​ ​“after-tax”​ ​return.

Security:​​ ​if​ ​it’s​ ​commenced​ ​in​ ​an​ ​approved​ ​manner,​ ​real​ ​estate​ ​development​ ​can​ ​be​ ​very money-spinning​ ​and​ ​secure.

Savings:​​ ​in​ ​real​ ​estate​ ​development​ ​your​ ​property​ ​investment​ ​is​ ​always​ ​15-​ ​20%​ ​below their​ ​market​ ​cost.​ ​You​ ​don’t​ ​need​ ​to​ ​pay​ ​developer’s​ ​margin,​ ​real​ ​estate​ ​agent’s commission,​ ​GST,​ ​marketing​ ​and​ ​other​ ​costs.

To​ ​make​ ​good​ ​money,​ ​to​ ​have​ ​the​ ​freedom​ ​to​ ​work​ ​on​ ​your​ ​own​ ​real​ ​estate​ ​is​ ​a​ ​great​ ​career option​ ​but​ ​like​ ​other​ ​career​ ​options,​ ​there​ ​are​ ​also​ ​significant​ ​potential​ ​risks​ ​if​ ​you​ ​get involved​ ​in​ ​property​ ​development.​ ​Read​ ​out​ ​the​ ​cons​ ​becoming​ ​a​ ​real​ ​estate​ ​developer.

What​ ​types​ ​of​ ​Professional​ ​Certification​ ​do​ ​you​ ​need​ ​to​ ​obtain?

A​ ​variety​ ​of​ ​professional​ ​certifications​ ​are​ ​available​ ​for​ ​real​ ​estate​ ​developers.​ ​The​ ​National Association​ ​of​ ​Realtors​ ​issues​ ​several​ ​credentials,​ ​including​ ​the​ ​Accredited​ ​Land​ ​Consultant

(ALC),​ ​Certified​ ​Property​ ​Manager​ ​(CPM),​ ​Certified​ ​International​ ​Property​ ​Specialist​ ​(CIPS) and​ ​the​ ​Certified​ ​Commercial​ ​Investment​ ​Member​ ​(CCIM).​ ​Other​ ​certifications​ ​include​ ​the Economic​ ​Development​ ​Finance​ ​Professional​ ​(EDFP)​ ​or​ ​the​ ​Housing​ ​Development​ ​Finance Professional​ ​(HDFP),​ ​which​ ​are​ ​issued​ ​by​ ​the​ ​National​ ​Development​ ​Council.​ ​Professional training​ ​certificates​ ​are​ ​also​ ​available​ ​through​ ​the​ ​Urban​ ​Land​ ​Institute,​ ​which​ ​include​ ​real estate​ ​development​ ​or​ ​real​ ​estate​ ​finance.

What​ ​types​ ​of​ ​Job​ ​Responsibilities​ ​do​ ​you​ ​need​ ​to​ ​face?

Being​ ​a​ ​real​ ​estate​ ​developer​ ​you​ ​need​ ​to​ ​play​ ​many​ ​significant​ ​roles​ ​and​ ​plenty​ ​of​ ​pain​ ​as well​ ​as​ ​money​ ​rewarding​ ​job​ ​responsibilities.​ ​Many​ ​developers​ ​specialize​ ​in​ ​residential, commercial​ ​or​ ​industrial​ ​property​ ​development.

Great​ ​knowledge​ ​of​ ​Negotiation,​ ​site​ ​selection,​ ​construction​ ​and​ ​contract​ ​law​ ​are​ ​the​ ​main aspect​ ​used​ ​while​ ​real​ ​estate​ ​developers​ ​purchase​ ​properties​ ​from​ ​top​ ​real​ ​estate​ ​brokers​, other​ ​organizations.​ ​Next,​ ​you​ ​need​ ​to​ ​create​ ​assessment​ ​reports,​ ​statistical​ ​data,​ ​and feasibility​ ​reports.​ ​You​ ​also​ ​need​ ​to​ ​establish​ ​connections​ ​with​ ​sales​ ​agents,​ ​public​ ​officials, construction​ ​contractors,​ ​utility​ ​companies,​ ​community​ ​organizations,​ ​and​ ​lenders.​ ​In addition​ ​to​ ​it,​ ​they​ ​also​ ​handle​ ​taxes,​ ​zoning,​ ​land​ ​use​ ​restrictions​ ​and​ ​shipping​ ​issues​ ​in their​ ​tenders.​ ​ ​You​ ​should​ ​prepare​ ​yourself​ ​for​ ​long​ ​working​ ​hours​ ​and​ ​travel.

What​ ​are​ ​the​ ​Pros​ ​and​ ​Cons​ ​becoming​ ​a​ ​real​ ​estate​ ​developer?

Pros​ ​of​ ​Becoming​ ​a​ ​Real​ ​Estate​ ​Developer:● You​ ​get​ ​a​ ​chance​ ​to​ ​earn​ ​a​ ​higher​ ​income.​ ​As​ ​of​ ​2014,​ ​the​ ​BLS​ ​records​ ​a​ ​mean​ ​salary for​ ​property​ ​management​ ​professionals​ ​of​ ​about​ ​$66,000. ● To​ ​pursue​ ​a​ ​career​ ​in​ ​Real​ ​estate​ ​and​ ​to​ ​become​ ​a​ ​top​ ​realtor​​ ​you​ ​have​ ​many options​ ​to​ ​get​ ​professional​ ​certificates. ● You​ ​also​ ​get​ ​an​ ​opportunity​ ​to​ ​be​ ​a​ ​catalyst​ ​for​ ​economic​ ​growth.

Cons​ ​of​ ​becoming​ ​a​ ​Real​ ​Estate​ ​Developer:-

● Though​ ​real​ ​estate​ ​developers​ ​earn​ ​higher​ ​than​ ​average,​ ​their​ ​job​ ​growth​ ​is​ ​also depended​ ​on​ ​the​ ​economic​ ​trends.​ ​If​ ​there​ ​is​ ​a​ ​decline​ ​in​ ​real​ ​estate​ ​investing​ ​then surely​ ​it​ ​will​ ​slow​ ​down​ ​the​ ​future​ ​employment​ ​opportunities​ ​in​ ​real​ ​estate. ● To​ ​must​ ​have​ ​achieved​ ​higher​ ​and​ ​advanced​ ​education​ ​degrees​ ​to​ ​get​ ​better positions​ ​in​ ​real​ ​estate​ ​development.​ ​And​ ​to​ ​get​ ​real​ ​estate​ ​brokerage​ ​you​ ​must​ ​have a​ ​state​ ​license.​ ​These​ ​requirements​ ​are​ ​vary​ ​from​ ​state​ ​to​ ​state. ● Specialized​ ​industry​ ​knowledge,​ ​comprehension​ ​of​ ​zoning​ ​laws​ ​and​ ​real​ ​estate regulations​ ​may​ ​also​ ​be​ ​essential. ● As​ ​real​ ​estate​ ​involves​ ​plenty​ ​of​ ​tiresome​ ​tasks​ ​to​ ​do​ ​and​ ​long​ ​working​ ​hours sometimes​ ​with​ ​no​ ​break​ ​and​ ​extensive​ ​travel​ ​are​ ​the​ ​main​ ​tedious​ ​things.

Source: https://fastexpertinc.jimdo.com/2017/12/08/benefits-of-becoming-a-real-estate-de veloper/