I Have No Development Expierience
I have no expierience but ive read books such as Real Estate development principles and process. My questiion is: how can i start with no money? also can I find an investor with enough capital to secure a loan from the bank? I wanted to develop a Laquinta inn and suites because they already have the blueprints mapped out so i would not need an archeitect, only land and zoninig approvals etc... please help
Thank you for writing with your question.
Even if you were an experienced developer right now, you would have difficulty in getting a project financed due to the Global Financial Crisis.
I don't think you can start 'any' business without having any money, and the same applies to the development business.
Reading a few books on development principles and process wil not be enough. They don't tell you what to do "tomorrow" on your project or the next day or even on the first day.
I know this because I have read them all and can tell you that is why I wrote the only development courses ever written in the world by a developer.
So if you wnat to learn how to do it you should study the only course available, which is mine.
You ask about finding an investor who can borrow the money etc.
The first thing an investor will want to know is your development track record and if it is zero, he or she will run away.
You say that you can get the blueprints and so don't need an architect ... just the zoning and approvals.
Well Brandon let me tell you that you need the architect. So you need money to hire him or her. You need money for zoning approvals and development approval.
Now let me tell you that if you have blueprints for land that is not zoned correctly by the local Authority then you don't have anything but a set of plans that can't be built.
So let's go back to the starting gate. If you want to get into my business - the development business, you have got to get educated in the business or guys like me will eat you for breakfast and get the development opportunity before you even know it is available.
Don't take that as harsh commentry; it's just fact. There are professionals who have been in the game a long time and they know there are no short cuts.
So here's the go. Get yourself educated by studying one of my courses - and then Do All The Work I tell you to do.
Then you should approach an existing developer as get employed ansd learn how to put all the lessons into play using his/her developments and so gain experience.
While doing this you make contacts as well and then with some savings you might be able to start off in a small way and grow from there.
Hope this helps you.