what are the new trends in real estate development?

Question

i am interested in property development and would need an insight on how you can set up a business in real estate

Answer 1

Having worked with a variety of investment properties over the past several years, let me first say YES it is possible to make a nice living working with investment properties. However, I've also met a lot of individuals who have failed miserably at it. In fact I've seen so many failures; I don't even know where to start in discussing them...

One of the biggest mistakes I've seen people make is they spend time "researching" i.e. watching videos or reading the internet, but they never seem to seek advice from ACTUAL investors working in their local market. Buried near the bottom of the ABC article, it mentioned you should have a "home inspector, contractor, realtor, tax accountant and attorney to advise you."* Although I would add lender to that list as well, the point to be made is having a core group of experts from every aspect of the investment stage to help you should something go wrong can mean the difference between making a profit and losing your proverbial shirt.

From my experience, most would-be investors are afraid of looking “stupid” in front of other investors, or are afraid they will be perceived as competition. Trust me; successful investors do not see a first time neophyte as a threat. Most of you will fail so there is no need for the expert to feel angst by the presence of a novice. But believe me, it’s a whole lot less embarrassing to ask a stupid question of an experienced expert than to lose your home because you didn’t ask in the first place. And remember because laws and regulations vary from state to state, and city to city, the “great advice” you get from someone on the internet in California can land you in hot water in Missouri. For that matter, the differences between an established inner city and a budding suburb can be night and day.

The best advice, as well as the FIRST piece of advice I offer every “new” real estate investor or would-be rehabber is to seek excellent tax and legal council. When seeking advice of an accountant, research for a company or individual with experience in real estate. When it comes to home improvements and rehabbing, things like repairing a door verses replacing a door depreciate very differently having varying tax consequences. This is also true of your legal ally a.k.a. your attorney. Protect your current assets and minimize your exposure and vulnerability to liability should the unexpected occur- like someone becoming injured on your property, loss due to theft and possible items not covered under your insurance policy. Your attorney will guide you on an appropriate course of action be it in creating an LLC (Limited Liability Corporation) or other appropriate precautions to protect your best interests.

Answer 2

housing development has excess inventory already built and unsold in many areas of the US. Only those with the ability to produce at rock bottom costs have a prayer of staying in business, much less making a profit.

commercial and office development is moderately better, IF [and this is a mighty big IF] you have a specialty niche in which you'll be better than anyone else.

If you do not have that niche -- you'll likely crash and burn.

Answer 3

you have picked probably the worst time in the last ten years to ask this question its time to getout of this business not get in .. wait and it will get better but dnt invest now