Moshe Junger:v Beginner's Guide to Real Estate Development

New York City NY

14 December, 2021

9:57 AM

Description

If you're looking to start or continue your real estate career, you need to know about the different steps involved. From planning to closing, this beginner's guide by CEO of Bridgewater Capital Partners LLC, Moshe Junger, who is specialized in the development of multi-family and industrial real estate, will help you get started. From understanding the market to finding the right property, he'll show you everything you need to know to get started in real estate development. Introduction to real estate development “Real estate development is a complex process, but it doesn't have to be,” says Moshe Junger. “You don't need a degree in engineering or architecture to get started. It helps if you have some real-life experience, but that isn't necessary either”. You can start your own business by becoming an agent, broker, investor, or even self-developing. You can also take on the role of property manager for someone else's development project if you're interested in learning about and working with the process from both sides of the fence. This guide by Moshe Junger will help you get started no matter what kind of development path you choose to take. It will teach you about the different steps involved in real estate development and provide insight into how they work. Planning your property Once you've found a property for your future development, it's time to get started. You need to be able to understand what you're getting into and to think through the different phases of development. You also want to make sure you have all the information that'll help with your decision-making process. To do this, Moshe Junger recommends making a list of must-haves and don't-haves, as well as taking note of your budget and timeline. This will help you identify any potential problems or roadblocks early on in the process and avoid them before they happen. Here are some other things to consider while planning your property: A site plan: Moshe Junger recommends making sure that the site plan adequately covers what you're developing! This will help ensure that you're considering everything from the layout of buildings to where utilities are located. An architectural design: You can use an architect or designer for this step if you don't feel comfortable designing yourself. Consider using an expert who has extensive knowledge about real estate development so they can provide design advice tailored around your specific needs. Closing your deal Closing your deal with a real estate developer is one of the most exciting parts of development. After all, it's the culmination of all your hard work and planning. Getting to closing is a necessary step, but it doesn't have to be scary. Just follow these six simple steps from start to finish: 1. Research your market 2. Get financing 3. Plan for construction 4. Begin construction 5. Complete construction 6. Close on your property. Tracking your progress One of the most important things you'll want to keep track of is your progress. It's easy to get caught up in all the work that goes into a real estate project, but without tracking your progress, it can be hard to know what has been done and what still needs to be done. To start tracking your progress, Moshe Junger advices to simply make a spreadsheet. This will give you a place to list the tasks that need completed in order for your project to proceed.