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Updated 6 months ago, 05/25/2024
Long time Investor Looking for general help on succeeding as Res developer
Hi Everyone,
I am making a commitment to be more active on here, and going to try to post here a few times a month and also answer questions from my perspective for the younger investors.
As the title suggests, I am a long time RE investor, have 3 properties 2 of which I rent out (one is cash flowing $700/mo , YES) I control 1M in assets, have about 250k in equity total. I want to spend the rest of my life developing Real Estate but I am new to construction. I am looking into purchasing a plot of land somewhere around my state of Illinois to give myself leverage and motivation to develop it. Any advice is greatly appreciated, below are a few of the questions I am kicking around curious if anyone with experience can weight in:
1. What is the best way to network with successful developers?
2. I am currently a utility engineer making over 100k/ yr, should I consider pivoting into the developer or construction management space for experience?
3. If so, what are some good certs or proven path to break into employment in those areas?
4. How in the world can I find a great reviewed CPA that will help with my tax situation? I am even willing to overpay for some great help
I think those 4 are good for now, feel free to answer 1 or none if they sound silly lol.
Thanks in advance and look forward to connecting more with folks on here!