Real Estate Development.
If You Could Do It Profitably
How Often Would You Do It?
... want to learn? ...
Hello Colm Dillon here ...
I have completed real estate developments of over $1.2 billion - that's over 1,000 condos, townhouses, office buildings, industrial buildings, subdivisions and an international hotel.
Since 2003 I have taught several thousand individuals in every US State, Canada, UK, Ireland, New Zealand, South Africe, Australia and 88 other countries how to become successful residential real estate developers.
Cynical people have asked why am I teaching and not developing, if developing is so good; good question. I offer this as an explanation only. No sympathy is required, I assure you, as my life is nothing short of fantastic.
I was not satisfied developing real estate as a full time occupation, so I decided to develop cancer in my kidney as a 'sideline.'
A seven and a half hour op got me back to work within three weeks. Without making a long story out of this, the big 'C' came to visit twice more, before I go the message; slow down!!
Now remember, I was developing on a large scale, so don't think developing gives you cancer. That just happened to be my bag, OK? If you want to see how busy it gets; here are
some photos to flick through.
OK, all I have done is turn a bad deal into a positive one and I've gotta tell you, this past three years has been the most professioally satisfying of my life.
If you want to learn real estate development, (in the UK, they prefer to call it property development) ... you're not going to find much information, as no doubt you have already discovered.
Why You Ask?
Simple because the guys 'who know' how to do real estate development, are too busy making money. They prefer to leave buildings behind them and not instruction books ... besides, many think, "I learnt the hard way; you can as well!"
Let me ask you this question.
Why am I the only real estate developer in the entire universe, who has bothered to write a single word of instruction on how to develop real estate and more specifically, how to become a residential real estate developer.
Again the answer is simple. Without moving from my lounge room and definately with "no stress" I could develop a four unit project by just using the telephone and make more money than writing and selling this e-book for a 10 year period.
The smallest townhouse project I ever did contained 40 two and three bedroom homes. I was a project called Soverign Hill; in fact, it was the first specfic townhouse development ever developed in Brisbane ... hey-y-y!
So you see, you need to get sick before you are silly enough to write an e-book or course. Anyway, that get's my explanation and reasoniong behind this web site and training material out of the way, so we don't have to talk about it any more; OK?
Let's get one more thing out of the way. From here on in ... this is for "serious people" ... it is not for people who have a casual interest in residential development ... what I will teach you requires "study" ... it is easy to read, because of the way I explain things, BUT it is not just a READ with a coffee on rainy afternoon.
What I teach you is not difficult ... I assure you. But you do have to do some work. I make no apologies for speaking frankly like this.
If real estate development was as simple as Hollywood script writers make it look, we would all be multi millionaires and spend most of out time sitting by the pool with a chilled Champagne Flute in our hands. Right now, that's only for me to enjoy ... Kidding!!! (Couldn't resist that.)
I hope some blunt talking has "put off" the tyre kickers. Frankly, who has the time to waste? Not me.
But if you are serious, you at the right place.
So the purpose of this web site is to tell you what is involved in learning to become a residential real estate developer. I want the following descriptions of the development process to help you decide if the development business is for you.
The people I know in this business are serious business people, who work as hard as you do now ... it is just that they understand the power of creating multiply products called lots, or houses or condos or townhouses.
This site is going to describe for you the essential elements that make up the residental real estate development process. All my course does is take each of these topics and expand it in great detail.
Oh yes, one last thing. I said that I was the only developer ever to take on teaching development, well I have also created the first and only free weekly web conference, where I answer students questions.
In fact I also allow "any" individual to attend for free, whether they have studied my course or not.
So you have to want to do this work ...
OK, here's what I am going to talk about:
Real Estate Developement Market Research: If you don't know what the residential market wants to buy from you, how are you going to provide what they want? How do you know what to pay for the land? How do you know what the sales price should be and for what size and quality ... plus lots more?
Buying Land For Development:Most people who get into this business without knowledge, start off by buying some land. Seems obvious really; but it's the last thing a developer does. From the moment an inexperienced developer buys his/her land, they are in that place called, "What Do I Do Next?"
Preliminary Development Feasibility Study: This is where we 'crunch some numbers' to see if we have a financially viable development proposition on out hands or whether we should drop thisparticular piece of residetial dirt and look elsewhere.
Building Design Consultants: Who are they? What do they do for us? How much do they cost? If I asked you right now what an architect does, could you tell me? And after you say,'design buildings,'could you tell me what else they do? You need to know, or how can you hire one!
Preliminary Design Plans Drawn: This is just one stage; an important one, and it sets the design layout for all you will construct later.
Real Estate Development Financing: This is the one area where just about 100% of my students pull out their "worry beads." Just like my previous comments about getting control of the land; one can go down the wrong tract by doing what you think is obvious. Which is not going to see your local bank manager.
Real Estate Development Feasibility Study: This is where our development cost and sales figures have to be a lot more 'real' but still have a degree of financial flexibility. We go into preparing a cash flow and analyzing or figures.
Development Approval: In a dynamic world, real developers like to be sure of what they can actually develop on the land. Remenber land is only worth what you can do with it.
Development Finance Application: If you saw what most people do when they applied for finance for a residential real estate development, you would break down and cry, it is so bad and and yet is so easy to do correctly.
Detailed Constuction Design Plans Drawn: I am sure you have picked up from the items I have told you about so far, that we are following a logical process.
Because to get to the point of drawing the construction drawings, our development approval is in our hot little hands and so is out finance. So that means we can get our design consultants working.
Building Costs & Estimates: The correct way of getting a construction cost is really a two stage process. It is quite straight forward, but like so many things in life, there is always the wrong way; we'll talk about that.
Feasibility Study Recalculation: This is an ongoing process throughout the life of our residential development. Only this stime we have a real builder's construction cost and cash flow.
Let's Get Our Building Started: As the developer, we had better talk about your role in the whole scheme of things. It's important to understand that you are a Manager; not an expert in detail. You are a bit like the conductor of the orchestra.
Development Marketing Promotion & Selling: We have to be able to tell our immediate world all about our great new residentialdevelopment, but we have to be able to do it within cost and on time.
Closing Sales: This is pay day and like every other development day, it has to be organise, or more correctly, I should say I has to be managed correctly by you.
Now when you look at that neat list of activities I have just given you, I want you to appreciate that many of them are interlocking and cannot be carried out in isolation.
It's a bit like the cogs of a wheel intermeshing and resulting into a movement forward of the development vehicle. Each cog is vital and without it being in place the movement forward would be very jerky indeed.
"Residential Development Made Easy" is above all ... a Practical Ebook ... not theory; you can go to University for that stuff.
"Wherever You Are Now In Your Real Estate Development Career ...
Then This Is The Worst It Will Ever Be."
Sorry to be so Blunt ... but it's just got to be said.
You see most people don't realize that real estate development has processes and procedures to be followed ... in fact, in my e-book, I believe for the first time ever, I have created a "Road Map" for you to follow.(Really it's a Development Work Flow Chart).
If you want to get you project from A TO Z, you need to know about all the side roads, the a1, a2, a3 etc ... plus b1 to b7 and so on.
However, you also need to know that while you are doing c4 (which takes some time, not yours, someone else’s you've employed to do it) you can get on with f3 and finish off b6.
And that is how you get your real estate development finished at 'Z' on your real estate development 'Time Line'. Does that make sense to you?
And that is how a big real estate development or a small one is finished on time and on cost.
Forget about the size of the $Dollars ... our goals are the same ... to get your $500,000 project or my $100,000,000 project finished on time and on cost.
Plus your $500,000 is just as important to you, as the $100m is to the professional ... it's the number that are different ... that's all.
Author of "Residential Development Made Easy"
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