Real Estate Development

[Jeffrey Sakundiak]

I want to get into commercial real estate development in the future, and develop large projects like (Retail centers, Office Buildings, Apartment/ Condominium complex's), for someone without a background in real estate, how would I get to that level?

Would developing small multifamily houses like duplexes, triplexes and fourplexes be a good starting point?

Appreciate your feedback and Advice

[Michael Albaum]

Hey Jeffrey,

I would say that starting with smaller development projects may be the only way to get started...or go work for a commercial developer. I'm in the midst of a rather significant redevelopment project and I've got to say, I've learned SO much in doing so, I couldn't imagine trying to do anything bigger. There is more red tape than one can think of with development, so if you don't know what you're doing, you can get burned really bad and really quickly. Additionally, put yourself in the shoes of whomever would be financing your project...would you give money to someone with no track record?

Best of luck!