Suppose you have a passion for seeing the potential in real estate development come to life, then a career in commercial real estate development just might be the perfect career path for you. Here are some helpful steps from the Mary Ellen Vanaken Team to get qualified and out there before you know it. 

Get the Necessary Degree

 Since one of your primary objectives is to make a profit as a commercial real estate developer, it would be beneficial to have a degree in a business or finance-related discipline. Furthermore, furthering your education will help provide you with the theoretical knowledge behind concluding a sale, which is sure to give you more insights into what being an excellent commercial real estate developer is all about. 

Get a Realtor's License 

Having a realtor's license should give you the credibility you need to be taken seriously by the industry and by potential buyers, especially if the selling and purchasing of property is involved. 

Get On-the-Job Experience

Solid experience counts a lot these days, especially in the world of commercial real estate development. This is one of the reasons you should be looking for as much real-world experience as possible, even if it means shadowing a property manager or real estate broker to learn all the ins and outs of maintaining and purchasing properties.  

Getting Started on a Project

Suppose you feel like you're finally ready to start a project, then it may be better to start small when it comes to upgrades so that you can see the project through from start to finish, starting with identifying a suitable site for the building project in question. Here, you may also want to look into existing properties that meet the bar by searching for realty websites online that already have available listings for you to choose from, which should make the selection process that much easier.

Getting All the Legalities Sorted Out

Of course, there will be a few legalities to sort out before you can take over the property, such as sorting out the negotiation side of things to abiding by the zoning regulations in your chosen location.

Finding Funding

Projects on a larger scale will usually require a significant amount of funding to get started. Nonetheless, as a commercial real estate developer, you have many options to consider, including getting a bank loan, getting a private investor or partner on board, and obtaining funding through preferred equity (which is a low-risk, high return on investment for investors), etc. 

Getting the Bidding Process Started

Depending on the project's scope and what it entails, there will need to be some bidding done with local contractors to see who can get the job done efficiently and cost-effectively.

Adding Safety Features 

Adding safety features such as lighting options for parking lots can  not only help to illuminate pathways for drivers but can also be a deterrent to criminals on the lookout for their next opportunity. Furthermore, there should also be better visibility in stairwells and walkways, so pedestrians can clearly see the path ahead.

Getting a Sales Team to Market Your Property 

 Once you're done with the development side of things, you'll need to put together a sales team to market the finished project to potential buyers. 

As you can probably tell, becoming a real estate developer is quite the process, as it is a nuanced job with many responsibilities. Apart from erecting a building or components of a building that must stand out, there are other safety aspects to consider, such as efficient lighting to ensure your project is not only feasible but safe as well. 

For the Mary Ellen Vanaken Team, our mission is to be the most successful real estate team in the North Atlanta, Georgia market by providing the best real estate experience for our clients. Call (770) 663-7291.

Image via Pinterest, article via Brittany Fischer with FinanciallyWell.info.