How do I become a real estate developer?
January 27, 2013 9:37 PM Subscribe
I'm well positioned (I think), to become a real estate investor. I'd like advice on how to take it to the next step.
posted by mistermc to work & money (19 answers total) 8 users marked this as a favorite
Here's my situation:
- I have access to ready and willing investors via my connections made in previous startups
- I've flipped one property and currently own an income-property (each in two different states)
- I take my RE license exam in a month (so does my wife)
In my other life, I'm a software engineer with a strong marketing/business/analytics background. I've been very involved in RE for about five years now. I know much of the great things about the business, as well as the bad.
Having just moved back to the Los Angeles / Hollywood / Beverly Hills area, I see a big opportunity for development of properties > 4 units.
So here's what I'm looking for:
My objective is to acquire a property, build a new development (or reno), and hold for cash flow. If this makes me a developer (which - I'd love to hear other people's view of what a developer does) - then what are the next steps? Finding the property, doing the analysis, figure out financing, and then going forward?
Are there any resources on the development process from A to Z. Something that goes into more detail about the process: acquire land, hire architect, get permits, city approval, hire construction company, etc?
Also, if anyone has anyone they can put me in touch with or would like to talk to me more about development or RE investing in West L.A., please do not hesitate to reach out!