The fundamental question is, how do you start a property development business? Well, here are 7 basic steps to start a property development business.
After licensing is obtained, then continue with the promotion and sale. Many ways of promotion. There are outdoor and Inthe door. With banners, billboards, banners, newspaper advertisements, websites, exhibitions, brochures, and others. You can also work with Karvon Property Partners, to promote your property.
Looking for decent land
Which side of the land should be reviewed? Many factors can be used as a benchmark. From the location, base price, landform, land status, method of payment. Location and base price will affect market segmentation. The land shape will affect the effectiveness of commercial land. The land status will affect the acceleration of the licensing process which results in costs. The method of payment affects the amount of capital that must be poured out.
Many things must be arranged in the master plan. There is a site plan or image of the area consisting of how many commercial lots, what is the magnitude of public facilities, road pictures, road width, plot width and so on. You can use the services of a planning consultant to draw this. There is also a marketing survey to see market competition in the area. You used to disguise yourself as a potential customer, ask many other marketing developers questions about the sale price, specifications, payment methods, sales, and purchase taxes. Mapping the location on the map of a city should also be done often. To find out our competitors’ points and location advantages compared to others.
For those who have little capital, it would be nice if they were able to hold an investor. Investors can, of course, be lured by the return on capital invested in the project.
After an agreement with the landowner and investor has been obtained. The licensing process needs to be run. It’s just that licensing in one area with other regions can differ from one another. There are no similar things to follow.
For construction, there are several choices. There are at least 3 choices for how to build property.
1. You can work with the contractor. With the contractor, you only have to supervise the construction along with the building specifications.
2. You can also work with foremen. With the foreman, you provide your own building materials.
3. You can also build your own, in other words, you provide your own handyman, supervisor, and building materials.