Real Estate Development - The Property Development Post-Construction Stage
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When construction is finally complete it's time to celebrate and enjoy the benefits that Real Estate Development has to offer. There are usually three options available to property developers once a project has been built, namely:
- - sell all their properties
- - hold all their properties
- - hold some and sell some of their properties
Many property developers decide to sell for quick profits and often engage a surveyor to prepare a Subdivision Plan if the properties are to be sold off individually. If they decide to sell they usually have a well-organized marketing strategy. They prepare marketing materials such as brochures, floor plans, artist impressions, Body Corp projections and rental appraisals.
Marketing is the key to getting people to purchase the development. Buyers usually don't come looking for developers and their projects. Marketing informs buyers that developers have a project that will soon be ready for sale.
If developers market correctly, they should be able to stay within their budget and yet still make significant profits. When developers market their projects, they generally have several goals in mind, including:
- - finding a buyer quickly
- - creating a positive name for their company
- - brand recognition
All of these things can easily be achieved with the proper marketing strategy. Successful developers sell their projects by offering value and lifestyle while also trying to continuously building their reputation within the industry. They also want to minimise costs and yet still deliver a strong and powerful message.
When we're looking for marketing professionals, we generally look for professionals who:
- - can work within our budget
- - share our vision
- - have fresh, innovative and exciting ideas
- - have the knowledge and expertise to help us reach our goals faster
With the proper marketing plan in place developers can also pre-sell their developments. It's a fairly simple process. A typical marketing plan will allow for branding. After the product is branded and the sales package is put together, developers can pre-sell their developments to buyers who are interested in purchasing before the development is actually built. This is a very important process for many real estate developers.
When developers pre-sell their developments they are usually able to:
- - fund the process upfront
- - make money faster
- - move onto other ideas with cash in hand
- - satisfy their financial institutes lending criteria
Our strategy is to hold for the long-term and lease as many of our properties as we can - taking full advantage of any tax depreciation benefits and the expected capital growth because we've developed in well located areas.
Designing a little above the market means we're generally able to attract tenants more easily and achieve above market rates and yields. We engage good property managers to look after our real estate investments who are willing to do more than just collect the rents because, as much as we enjoy Real Estate Development, we'd rather not be woken up in the middle of the night to fix things like broken taps.
But above all, the principal reason we hold onto our properties is that we're able to tap into the increased equity by refinancing so we can repeat the whole process over again. It means as wholesale property developers we're able to increase our net worth faster whereas the retail real estate investor generally has to wait for the typical growth cycles to occur before they're able to realise a profit.
The last thing we make sure we do is take out all the necessary property insurances and ensure we have good record keeping. We use 'POSH' to track the performances of our property portfolio and 'MYOB' for all our bookkeeping.
You don't have to be a Registered Architect or Licensed Builder to become a successful Property Developer or build huge sky-scrappers to make multi-million dollar profits but you do need to learn the proper process, obtain professional advice and TAKE ACTION.
If you do decide to embark on your own real estate development project we encourage you to respect our environment using holistic architecture and ecological sustainable development design principles so future generations can continue to enjoy our wonderful planet!
For more information browse: RealEstateDevelopmentClub.com
Adrian Zenere is a Registered Architect and Licensed Builder with more than 3 decades of experience in the design and construction industry along with his wife and business partner Amber they have built a sustainable Real Estate Development (RED) business.
Together they run a busy Sydney boutique architectural practice archizen.com.au specializing in Holistic Architecture combining eco sustainable development with feng shui principles and creating harmonious living that is respectful of our environment. Their projects are regularly featured in the Australian Property Investor, Luxury Home Design, Lifestyle Magazine, Home at Yellow and several newspapers.
They are also authors of the popular small real estate development book 'RED Armchair Entrepreneurs RED Hot Property Profit$' and founders of the 'Real Estate Development Club' where they use their professional knowledge and experience to help beginners get started in small property development and build a sustainable RED business.
To have a closer look at Adrian and Amber's Real Estate Development process and access your free webreport visit: RealEstateDevelopmentClub.com
To purchase Adrian and Amber's Small Real Estate Development book for beginners visit: REDarmchairEntrepreneurs.com
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