Step 1: Educate Yourself
- Sign Up for Property Development System: If you liked this course and learned from it, sign up for Lifetime Acess, so you have access to all feasibility applications & Property Development System, which will be a game changer for your development journey. It’s a detailed course that offers lifetime access and support through Edge with just one investment.
- Gain Knowledge: Read books, attend seminars, network, and talk to industry experts to build your knowledge base in property development.
- Complete all Assignments (Test Your Knowledge section) from this course.
- Use the FAQ section and post your queries there.
- Not sure, have questions, create a
Discussion Post - Give us feedback on this course, we value every word you say.
- Tell us what made you sign up for this course?
- Still stuck, create Support Ticket.
Step 2: Plan Your Strategy
- Formulate a Business Strategy: Create a comprehensive business plan outlining your goals, the type of development projects you intend to undertake, and your strategies for navigating the property market.
- Set Realistic Goals: Break down your ultimate dream into smaller, achievable milestones.
- If you don’t know how… the Property Development System includes a Goal-Setting and mindset module to help you get started.
Step 3: Source and Analyze Potential Sites
- Find the Right Site: Use a predetermined list of criteria to evaluate potential development sites. Do not compromise on the quality or the cost.
- Conduct Analyses: Perform a technical analysis, financial feasibility study, and financial modeling. Consider project funding options and establish a project legal structure.
Step 4: Site Acquisition
- Negotiate and Acquire: Explore options for site acquisition, including options agreements and joint ventures (JVs).
Step 5: Obtain Approvals
- Navigate the Approval Process: Complete the Development Application (DA) process and obtain the Construction Certificate (CC).
Step 6: Manage Construction
- Prepare for Construction: Generate tender documentation and select a builder through a competitive tender process.
- Oversee Construction: Manage construction, cost, and project/contract administration effectively.
Step 7: Execute Sales and Marketing Strategies
- Implement Strategies: Use the sales and marketing strategies developed in the planning phase to sell the project.
Step 8: Finalize Exit Strategies
- Carry Out Exit Plans: Execute the predetermined exit strategies to conclude the project successfully.
Step 9: Evaluate the Project
- Conduct a Performance Analysis: Review the project’s overall performance and profitability. Capture learnings for future projects using One Minute Feaso.
Additional Guidelines for Success:
- Finance: Set the correct financial structure and test the sensitivity of your project to various scenarios.
- Location and Timing: Focus on acquiring well-located properties and timing your investments wisely.
- Team Assembly: Choose your team carefully, emphasizing the importance of having the right support rather than just star individuals.
- Stakeholder Engagement: Be mindful of all stakeholders, including neighbors and the broader community.
- Contribution: Have the right intent with your development projects, aiming to make a meaningful contribution to the community.
- Mindset: Maintain a positive mindset and be prepared for the challenges and rewards of property development.
Final Thought: Enjoy the Ride
- Remember, property development is both challenging and rewarding. Prepare for a journey filled with ups and downs, learning experiences, and significant financial opportunities. Keep your goals in sight, stay flexible, and enjoy the process of building and developing.