There are many different aspects of real estate development. It involves anything from purchasing land and the construction or the renovation of buildings. Real estate developers, take the lead in the project overseeing the coordination of the process. While the entire development process can be complex, it can simply be seen as looking at the market for viable properties, purchasing the lot, developing the area or building, and selling it for a profit.
The first step to becoming a real estate developer like Stanley Xu is to purchase a piece of property that you believe you can develop and sell for a profit. Once you find this, you will need to start creating a plan and decide what you want to do with the property. There are many possibilities. However, you want to choose the one that will afford you the greatest reward.
When creating your plan you need to consider the area. If you purchased property in a commercial area, then you don’t want to build a house. It would be more beneficial to your bottom line if you were to build a commercial building or an apartment building with the ground floor reserved for shops. This will raise the value of the property because you can rent to a large number of people. After you finalize the plan, you can gather your team and begin construction. Stanley Xu is a real estate developer in the Seattle area with a knack for turning ordinary properties into excellent investments. For twenty years, Stanley has improved thousands of properties, reaping large profits for his company, Longwell Company.