Clarence Brantley has nearly four decades of experience as an
entrepreneur. He has launched a successful real estate development
company and a used car business, and owned and operated a string of hair salons in Georgia and Alabama.
He formed the Weegoo Construction Company in the late 1970s, and has since developed numerous commercial and residential real estate properties. The development process is typically broken up into a series of phases, beginning with the initial idea for a project. Part of this first step is knowing why you’re getting involved: is it something intended to produce a quick profit, or are there long-term objectives in mind, like developing it for rental returns?
Next, the developer looks at potential sites that will serve the idea. Factors to consider include consulting and construction costs, and the probable end sale values and desired profit margin. It’s always good to plan on contingencies, because most projects have some unexpected costs.
From there, the next step is to buy the land and get an architect and other designers to draw up plans. Once these have been approved then the developer gets quotes from different builders and arranges for financing on the project’s construction phase. This is one of the longest phases and depends on the project’s complexity.
When the construction is done the project is refinanced and either leased in the long term, or sold. Clarence Brantley is still active in real estate development to the present day.
Sources:
http://propertyupdate.com.au/how-to-get-started-in-property-development-article/
http://dev-tips.com/basic-real-estate-development-process/
He formed the Weegoo Construction Company in the late 1970s, and has since developed numerous commercial and residential real estate properties. The development process is typically broken up into a series of phases, beginning with the initial idea for a project. Part of this first step is knowing why you’re getting involved: is it something intended to produce a quick profit, or are there long-term objectives in mind, like developing it for rental returns?
Next, the developer looks at potential sites that will serve the idea. Factors to consider include consulting and construction costs, and the probable end sale values and desired profit margin. It’s always good to plan on contingencies, because most projects have some unexpected costs.
From there, the next step is to buy the land and get an architect and other designers to draw up plans. Once these have been approved then the developer gets quotes from different builders and arranges for financing on the project’s construction phase. This is one of the longest phases and depends on the project’s complexity.
When the construction is done the project is refinanced and either leased in the long term, or sold. Clarence Brantley is still active in real estate development to the present day.
Sources:
http://propertyupdate.com.au/how-to-get-started-in-property-development-article/
http://dev-tips.com/basic-real-estate-development-process/
