How to Become a Successful Real Estate Developer?

BY - JOE ARMATO

As the economy turns around after the

recession, real estate is once again

becoming an attractive investment. One

of the more profitable sides of real

estate investment comes in the form of

real estate development. Real estate

development is essentially, what

propels the growth in the real estate

industry.

A successful real estate developer has the education and experience to help them navigate through the often volatile and always challenging industry.

A real estate developer purchases property with the intent of developing a commercial or residential property.

Real estate developers come from a variety of backgrounds and disciplines. They may have started out as real estate agents, buying and improving properties; eventually selling them for a profit.

Others may come from the construction industry. They begin by contracting to build commercial property or homes in existing developments with the intent of eventually taking on partners who can help them to develop their projects. Others may start out working for an existing real estate development company focusing on a specific type of real estate, before branching off and starting their own projects.

There are many skills that a real estate developer must possess to be successful. One of the most important skills a developer needs to have is financial skill. Projects require the developer to be able to make the right choices when purchasing, financing, developing, and selling or leasing their properties.

It is also important for them to be organized, have interpersonal skills, marketing, and analytical skills. Having a formal education isn’t necessary, as Joe Armato, owner of Nationwide Consulting and Contracting, Inc., can tell you. Over the last 27 years, Joe has worked hard to build a successful real estate development company that focuses on developing high-end projects in Manhattan and the Hamptons.

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