Is Property Development for you?
DEVELOP YOUR ‘A’ TEAM:
Property development is an extremely creative process, therefore property developers must be creators by nature. As a developer, your role is to take a project from the conception of an idea, right through to all the stages of design and approval, financing, construction and marketing and eventually the leasing or sale of the project.
Successful property developers are a bit like movie producers. They assemble a highly talented team of people and skilfully lead them to develop a profitable outcome. Developers need to be proactive and make things happen. They must also be creative, flexible and adaptive to take their project through the development maze. Not to mention alls of the bureaucratic red tape that is involved with council applications, zoning restrictions and the like.
As a developer, you need to work hard, have patience, remain focused and have a burning determination to succeed.
There are aa few key basics you are going to have to undertake as you move along the path towards becoming a successful developer. You must:
– Educate yourself – as you are doing today;
– Take your time – as you will learn to do;
– Do the research – as we will teach you.
As a developer, it is your responsibility to make sure the risk you are taking on is equal to the potential reward at the end. That is, the higher the risk, the greater the reward you should aim to achieve.
It is essential to have a strong, experience and responsive team of professionals to assist in optimising your development opportunities. it is also important to have the right team for each of the particular projects you undertake.
Depending on a project’s complexity, it is likely that some or all of the following team members may be required:
– Engineers – civil, structural, traffic, acoustic, environmental specialists
– Designers, draftsmen
– Landscape architects.
– The list can go on….
Don’t be too concerned at this stage as PSCA has these points covered and will assist you.