How do you become a real estate developer?

[BIGPAPA511]

I'm talking about the ones who build malls and shopping plazas. Do you need a degree in business and architecture or how does that work?

Just wanted to give you my 2 cents I am as business broker and I was a project manager for a genral contractor before I became a broker. I will explain what a business broker is first a bb is someone that sells anything from tanning salons, hair salons, tool and die shops you name it we sell it if it is a business. To answer you question you do not need a degree or a realestate license or brokers license to be a developer. You just need to have good credit and money to put down on a construction loan. A construction loan will give you only up to 75% of the money that you will need to build your project. You can also use the construction loan to finance the land and the construction costs. Also you would want to talk to a commercial realestate lease agent they will help you find tenants to lease your spaces. You are better off to get property around an area that is going to be developed in a couple years. Hope this helps if you need more answers feel free to ask me I know my shit when it comes to building shopping centers, gas stations, party stores and grocery stores and I have built WAlgreens drug stores as well.

 

[Agathe]

Just wanted to give you my 2 cents I am as business broker and I was a project manager for a genral contractor before I became a broker. I will explain what a business broker is first a bb is someone that sells anything from tanning salons, hair salons, tool and die shops you name it we sell it if it is a business. To answer you question you do not need a degree or a realestate license or brokers license to be a developer. You just need to have good credit and money to put down on a construction loan. A construction loan will give you only up to 75% of the money that you will need to build your project. You can also use the construction loan to finance the land and the construction costs. Also you would want to talk to a commercial realestate lease agent they will help you find tenants to lease your spaces. You are better off to get property around an area that is going to be developed in a couple years. Hope this helps if you need more answers feel free to ask me I know my shit when it comes to building shopping centers, gas stations, party stores and grocery stores and I have built WAlgreens drug stores as well.

That's exactly what I was looking for. Thanks.

How exactly do you find the land to build something on it? I'm assuming one way would be to buy run down property in the city, demolish it and build something on that land.

 

[BIGPAPA511]

That is one way to do it. You have to have a good eye for realestate one thing I always do when driving is to look at certain areas and see what they have and what they don't have. also you want to pick a site that has good demographics like next to a meijer or a big chain store like a home depot their is a reason they put those stores in those areas good traffic and sometimes good income areas. Alot of times you can contact a commercial realestate agent and tell them you are looking for property to build a shopping center/ strip center and they can let you know of the property that they have for sale but remember just because they say it is a good area does not mean it is a good area remember their intention is to try and sell you the property. Another good tip is to meet with an archatech sorry my spelling sucks this morning he can tell you how much land you will need and how many unit strip center you will be able to build on a particular size property also he will be able to give you a rough idea on design and construction cost of your project. Hope that helps you some more if you have anymore questions feel free to ask.