Advice for someone wanting to get into real estate development

[Lakyra Muenzhuber]

Hello,

I am new to investing and real estate as a whole. I'm currently in college with the goal to be a real estate developer, so how should I go about finding the capital, raising funds, working with experienced investors, and getting started?

If you have done commercial development what information or advice do you wish you had before your first deal?

[Barry Ruby]

@Lakyra Muenzhuber Step 1 without a doubt is to learn how to determine and properly underwrite the highest and best use of a property.

Without this ability, site selection, valuation, cost, income, Op Ex, capital stack, equity and ownership splits and entitlements will be and remain a mystery to you.

The shortest distance between where you are and becoming a developer is to jump in by actually doing a small project yourself or finding a developer to teach in you in real time with a real project or finding a course associated with a mentor.

Alternatively, you can enter the trade by taking up a role in one of the many trades and professions involved with development. This will lengthen the time needed to get the full picture and is a choice I would not recommend or follow myself.

No matter what you choose to do, learn the language, the metrics and how they function and get your hands on or build a ground up pro forma.

I will be happy to send you some snap shots of the kind of tool you need if you like.

Just let me know how to get it to you and if you want or need any help with understanding it.

Wishing you the best on your journey.