I am a student very interested in property development. I am currently doing an assignment in which a plan to develop beachfront land hypothetically, into a block of units. I want to do everything except for construction. Things like development plan, risk assessment, loan applications etc.
Can anybody please tell what is involved during the planning stage of developing property?
Hi,
A big question with no small answer. I’ll point out a few things to get your juices flowing.– Budget. You need to know how much you can spend, how much you want to spend and what your required profit is.
– Land use / zoning. You’ll need to get copies of the title certificate, land rates notices and council permits / easments. That way you’ll know what is possible.
– Concept sketches or pictures from magazines and so on. Take them + the above certs and council info to a designer/architect to develop some plans to take to builders.
– You’ll need some permits from the relevant council. Your builder or designer can get them for you as part of their service.If you are looking at project managing yourself you’ll need to engage subcontractors and get a bill of materials and… There are lots of things you need to do.
But when you say planning that is correct. Write down what you want, what you can afford and how you’ll do it. Take each of those and break them down and keep breaking it down until you have achievable individual steps. There are books on thsi subject that go into much greater detail.
Originally posted by q:I am a student very interested in property development. I am currently doing an assignment in which a plan to develop beachfront land hypothetically, into a block of units. I want to do everything except for construction. Things like development plan, risk assessment, loan applications etc.
Can anybody please tell what is involved during the planning stage of developing property?
I think I may be able to help.
I have described the development process on our web site http://www.metropoleprojects.com.au under investors learning centre
or have a look at
http://www.metropoleprojects.com.au/files/RPZBI8BSQR/the%20development%20process.pdf
&
http://www.metropoleprojects.com.au/files/PQ9BWYG8RK/development%20approval%20process.pdf
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auHi,
Thank-You very much for all the help! It has really given me a kick-start.
I have read both 1,000,000 in Property in One Year and From 0 to 130 Properties in 3.5 Years so I have a fair idea about positive cash flow property. But I have not read any books on development could you maybe recommend some.Thanks Again.
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