Real Estate Development – The Secret You NEED to Know If You Want to Become a Property Developer

We’ve had a few people tell us that they really want to become a successful Real Estate Developer but aren’t sure if they have what it takes. So here’s some information that we thought might help…

Having our own architectural practice means we’re able to work with some of the most successful Real Estate Developers in the business and observe first hand exactly what type of mindset it takes that allows them to build property empires and accumulate massive fortunes.

Many studies have concluded that each one of us has a wealth blueprint. From our earliest moments our views towards money are conditioned by the sources around us like our parents, friends, relatives, teachers, classmates and the media. This programming ultimately influences our wealth accumulation.

We found that part of creating a ‘Developer’s Mindset’ meant that we needed to first remove any blockages that could hold us back from achieving our true potential. These blockages can be physical (a real injury), emotional (being judged or rejected), mental (not having language skills) or spiritual (taking certain teachings to their limit). Whatever its type – these blockages can be like a big rock in front of you that impede your forward progress.

The problem is – it isn’t always easy to identify these blockages. We sort help from internationally renowned Personal Development coach Paul Blackburn and during his Mental Toolbox he explained to us that it’s our money beliefs that can hold us back. Paul classifies people’s money beliefs as:

- It’s Easy: These people believe that there is never enough time to take advantage of all the opportunities they see lying around. If you can, hang around these people, their attitude may rub off!

- It’s Hard: These people grew-up hearing ‘we can’t afford it’, their catch cries include ‘money doesn’t grow on trees’. They believe money is hard to come by and even harder to keep.

- Easy Come, Easy Go: By being in ‘lucky’ situations, they find money both relatively easy to make and ridiculously easy to blow. They have a roller coaster existence, characterized by the expression ‘easy come, easy go’!

- Struggle: These people believe that it’s not OK for money to just turn up – It must be earned. They typically utter ‘another day, another dollar’!

- Always Broke: ‘Money doesn’t go as far as it used to’ these people will often say they believe wealth is immoral, wrong or shameful.

- I’m Powerless: These people feel they are powerless to earn more, complaining ‘I can’t, it’s too hard’. As their parents usually gave them too much, they never learned to make an effort themselves.

- Drama Queen: They are always broke because there is always some earth shattering money difficulty occurring.

In the first eLesson of our RED Club mentoring program we talk about how we had to change our money beliefs and reprogram ourselves so we could attract an abundance of wealth. We also talk about the mental habits as well as the amazing financial and business habits of the Rich that you should seriously consider adopting if you want to become a successful Real Estate Developer.

Many people have tried Real Estate Development in the past however not all of them have been successful. Some have failed miserably simply because they didn’t have the right mindset to begin with. This step shouldn’t be overlooked… getting our mindset right was the underlying fundamental key element to our success.

Jim Rohn, the renowned American business philosopher wrote, “The most important part of becoming a millionaire is the person that you have to become to accumulate a million dollars in the first place.” Likewise, many financial advisor’s will say, “The first million is extremely difficult to acquire, but the second million is almost inevitable.”

This is a great insight – you will need to develop a different mindset and different habits from the average person in order to become a successful Real Estate Developer. By becoming this kind of person you also become the kind of person who can then earn the second and third million. If you happen to lose all your money, you would be able to make it all back again because you have become the kind of person who can make a million. Essentially, by adopting the habits of the Rich and the mindset of successful Real Estate Developers, you can become one.

If you just sit and read this, then nothing is going to happen for you. You need to roll up your sleeves and get moving. If you want to change your situation you must take action because ahead of any other requirement is your personal motivation. Only then can the money follow!

Remember… your success lies in your mindset. It all starts with the quality of your thoughts! If you have positive thoughts, you’ll have positive results and if you have negative thoughts you’ll have negative results. You must first believe you have the ability to create successful and profitable developments before it can ever happen. Do you have a Property Developer’s Mindset?

Tips on How to Become a Real Estate Developer

If you’re interested in learning how to become a real estate developer, you’re not alone. This field has been so hot over the past few decades that even some of America’s most notable universities have begun to offer master’s degrees pertaining to it. From Columbia and Emory to the University of Michigan, real estate development has garnered its own school of learning.

Getting into this field in today’s market can be a little tricky, but it is still attainable. A lot will depend on where exactly you would like to work in real estate development. An actual developer is a person or entity that buys real estate with the idea of adding value to it prior to a sale or lease. This means not only finding and holding land, but also overseeing the construction of buildings on the property.

While many people learn to become real estate developers, few actually front the cash behind the buys. They, instead, work for firms that do. If this appeals to you, these tips can help you break into the field:

Examine your interests closely – Real estate developers actually have a need for a variety of specialties. Not only are skilled buyers required, but so too are those who represent a host of other trades. A development firm, for example, will also require the services of accountants, clerical workers, geologists, lawyers, negotiators, architects and so on. Sometimes a real estate developer directly hires people from these professions to work on personal staff. In other cases, they receive subcontract work. Considering the variety of jobs available that are related to real estate development, it pays to examine your interests and pursue the area that best fits your skill set.
Pursue the proper training – If you want to be the man or woman who actually finds and buys real estate for commercial, residential or industrial development, you might want to consider a bachelor’s or master’s degree in the field. Related field degrees are also useful.
Get financial backing – If it’s your notion to become a developer personally, you will need financial backing to do so. If you’re independently wealthy, you’re on the right path. Otherwise, you will need investors or bank backing.
Seek out jobs – Should it be your desire to learn how to become a real estate developer and work for others, you’ll need to scour the market for jobs. Look online and in trade publications for the most updated listings.

A Guide to Being a Top Real Estate Developer

If you have designs of becoming the world’s next top real estate developer, you perhaps couldn’t have picked a better time to consider this field. Even with the market’s downturn and shaky economic times afoot, this field still holds a golden opportunity for potential. To take the dream and make it reality, you will need to equip yourself with several things and you will need to have some skills highly sharpened.

If it’s your plan to go it alone with your own funding and credit, becoming a wining real estate developer will also require these skills:

Ability to read markets – The job of the real estate developer is to purchase property and then develop it to turn a profit down the road. This can be a tedious undertaking that involves a great deal of time. In some areas, developers buy land and hold it for quite some time, waiting for the market to be just right to build. Market research skills and an ability to read into trends within a target community are a must here.
Ability to negotiate deals – For a real estate developer to really succeed, he or she needs to be able to buy land at a low price and develop it for a high return. This takes serious negotiating skills and the know how to gauge when it’s time to walk away.
Ability to garner financing – Even for the independently wealthy, having the backing of investors or banking institutions is a must for real estate development to be successful. To this end, a good real estate developer also needs to have a firm handle on financial management, business management and economics. This is why many colleges have founded programs geared specifically to real estate development.
Ability to follow through – Real estate development doesn’t stop when a land purchase is made. The work, at this point, is only starting. To carry through, a developer needs to create a plan for the site, gain proper approvals for construction, obtain financing and then see the construction process through to the end. The job of a top real estate developer is not completed over night.

Facts About a Real Estate Developer Job

If you think that a real estate developer gobbles up land, puts buildings on it and then makes a big sale for a huge cash reward, you have the layman’s understanding of this challenging field. When the surface is scratched a little deeper, you will discover that the facts about a real estate developer job reveal a great deal more to this field than just buying and selling.

So, what are the facts about real estate development that you might want to know if this field appeals? Here are some points that go deeper than the surface:

Developers do more than buy and sell land – For a real estate developer to be successful, the individual or company must have a knack for market research. Not only does land have to be bought, developed and then sold or leased for money to be made, but the proposed project has to make sense in the community. Getting the correct zoning, permits and government approvals takes knowledge and know how. Making sure the developed property will actually appeal to buyers or renters is also vital.
An individual can be a developer – Individuals all over the world can technically be categorized as real estate developers. Any time a person buys a piece of property, adds improvements to it and then sells or leases it for a profit, development has taken place. While some of the world’s most noted real estate developers are actual corporations, individuals, couples and families can also get in on the act if they have the backing to do so.
The field demands multiple disciplines – Successful real estate development companies don’t rely on an individual’s skills alone in most cases. These firms also have a broad team of professionals onboard to help with purchases, permitting and construction. The disciplines that feed into real estate development include geology, law, market research, marketing, accounting, economics, architecture, drafting, surveying, clerical and more.
Education is essential – If you intend to land a real estate developer job working for a firm, your degree will matter. To actually be the buying, selling and developing point person, a degree in real estate development can be a good springboard. For the sub-fields, degrees in the desired area are often a must.

What a Real Estate Developer Does

If you are considering a career in real estate there are a number of options open to you beyond the most well-known ones, such as acting as a buying agent. Instead, you may choose to enter real estate development, where you will actually have a direct hand in the creation of different types of property, instead of simply acting as the third party in transactions involving said properties.

So What Do They Do?

Simply put, a real estate developer is the person that makes a building happen. They are the ones with the vision, whether it is a simple house construction of the development of an enormous skyscraper that can be seen from miles around.

While they won’t be the ones actually building the property, they are the ones who will need to arrange for everything to be done and will usually be the person who assumes all of the risk for whether or not the project ends up being a success.

It’s usually their money and their land that the building is being built on, so a real estate developer is somebody who truly makes things happen in the industry and they are vital to keeping the entire industry going.

What Do They Need?

First and foremost a real estate developer is going to need the cash to make the relevant purchase to secure the land they wish to build on. Whether this be their own cash or money coming in from investors is up to the developer, but without a budget they are not going to be able to do anything.

Assuming the required money is in place, a real estate developer’s next task is to find a good team. They will need architects, builders and everything in between to make sure that their project comes to fruition. Just like every orchestra needs the right players before they can make magic, so does the team assembled by a real estate developer.

The last thing they need is a reliable supplier of materials. After all, the materials make the building and it is enormously important that the suppliers are both reliable and able to provide the best possible materials on the market.

So What Are The Risks?

As great as the rewards can be, real estate development also carries with it an enormous risk that must be considered before you start any project. Simply put, the outcome of the development is entirely on your shoulders. Sure, the developer needs a big team of people to make everything come together, but that team won’t be sharing the blame if things go wrong. In fact, more of the blame can be heaped on the developer’s shoulders simply because they are the person who assembled that team.

As such, it is important to have plenty of knowledge before you enter this side of real estate. It is not something that can be done by halves, so you need to make sure that you have the time, money and dedication required to make it a success, or you may well find that your reputation ends up in tatters.