I would like to be a real estate developer, but i don't know how, so i have a few questions for you to answer. Thanks. What qualifications (A levels) do you need, and what to study in University? When you invest in a project, do you design the construction and use your own money, or do you get a loan from the bank? How would you promote your new construction (i.e a block of flats)? How much money would a real estate developer earn per job (in UK)? Thanks for your time, (Also if anyone knows where should i go for work experience, something to do with the real estate development business? Thanks
Rarely do develpers maintain the the properties...that is not how they make their money. Some developers retain the management of a community's HOA until it's 70% sold, and they assist the resident's in finding a HOA management company. The HOA also has the right to change management companies if they are not happy with the service.
In order to be a real estate developer you need experience as a builder and you need lots of money. Say you want to build a few houses, you will need to buy the land and then get a construction loan. Banks are very reluctant to loan money to a newcomer and they will want high interest rates if they do make the loan. Remember you do not get your money out until the project is complete and you could run into cost over runs and who knows what else during the construction phase. If you run out of money before the construction is complete you are SOL. Your potential for profit is huge but so is your risks. Right now there are lots of developers that have finished projects that they can not sell because the market prices for the units is not enough to pay off the construction loans.
