Calling All Developers For Residential

[Christopher Imbarrato]

Hello all, 

I first wanted to say thank you all for choosing to look on this forum. This is my first post to the BP forum! 

I have always wanted to start developing properties and I think I am almost ready to start developing small residential areas. I currently own a couple rental properties that I have successfully used the BRRRR strategy to acquire these assets. I don't want to start developing really anytime soon because I want to get a better knowledge of every thing I need to do before even going to find contractors to complete the job. I have been doing a solid amount of research everyday into the first steps of getting a development underway, but I want to hear some of your thoughts about other things I should know about getting a project started. Also I would like to know if their is any sort of step by step process to get all necessary permits and plans together for contractors and subs.

Thank you all and I am all ears to anyone's answers. 

[Greg Dickerson]

Originally posted by @Christopher Imbarrato:

Hello all, 

I first wanted to say thank you all for choosing to look on this forum. This is my first post to the BP forum! 

I have always wanted to start developing properties and I think I am almost ready to start developing small residential areas. I currently own a couple rental properties that I have successfully used the BRRRR strategy to acquire these assets. I don't want to start developing really anytime soon because I want to get a better knowledge of every thing I need to do before even going to find contractors to complete the job. I have been doing a solid amount of research everyday into the first steps of getting a development underway, but I want to hear some of your thoughts about other things I should know about getting a project started. Also I would like to know if their is any sort of step by step process to get all necessary permits and plans together for contractors and subs.

Thank you all and I am all ears to anyone's answers. 

This really depends on the type of development you want to get into. Development requires deep pockets and serious expertise so the best bet is to keep educating yourself and whatever is making you the most money right now double down on that and scale it while you can then once you have that system in place and on autopilot you can look to invest in other strategies. The best way to learn the business is to talk with relators and builders that are doing infill development. The key is knowing the market, finding the right land and getting the projects done on time and on budget so you need to build a competent team and lead them to the finish line.