Newbie Developer Guide

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pjk1966
Member
@pjk1966
Join Date: 2007
Post Count: 11
February 21, 2009 - 9:53 am
Property Development does not have to be about multi million dollar projects, although that is a great way to make a mountain of cash huh? Any time you improve a property it can be called property development, The real difference from the standard investor/renovator is I guess a little more professional services a employeed.
What I meen by that is this :- 1. You do not need to be licensed to be a developer.
                                            2. When you find a property you would like to work, submit a proposal to a
                                                 Quanity Surveyor.
                                                 Many Quantity Surveyors will "Profile" your proposal for FREE and tell you if
                                                 it is viable or not.
                                            3. Employ sub contractors to undertake the work you are not able to do yourself.
It is worth bearing in mind that doing just one (1) project like this may not generate enough profit for you. You may like to consider doing many projects each year which may require you to manage these projects full time.
I am certain that with some thought you could personalise this model to suit your own needs, hopefully you will find it useful.
Scott No Mates
Participant
@scott-no-mates
Join Date: 2005
Post Count: 3,856
February 22, 2009 - 9:53 am
1 – yes, provided that you are not the builder. If you are the builder, then you may need an owner-builder's licence for a house or refer to state legislation if it is anything else (commercial builders and project managers are licensed in some states with proposals for other states to follow suit).
2 – you've got to be awfully lucky to get a qs to do a feasibility study on a property for nicks. They may float a budget at you but why would they do this without the prospect of a job at the end of it?
3 – You must use licensed subbies for several trades including all trades working on residential work. Plumbers, gas-fitters, air-conditioning, electricians are specialist trades requiring specialist licences.
There are restrictions on owner-builders – one house every 6 years (hopefully you have a very wide family to rely upon for licences).
Nothing on those links about property development.
god_of_money
Participant
@god_of_money
Join Date: 2008
Post Count: 970
February 22, 2009 - 10:13 am
well… may be developed into mangosteen 's juice developer