How to become a developer!

7 Replies

Hello everyone,
My names Will. I am a mortgage banker. I've been in the mortgage industry for about 4yrs now. Myself and three of my partners are comtemplating becoming developers.

I'd like to know if anyone can share some of the basic things we'd need to consider with going into development. Any information would be greatly appreciated.

Let me know how that CD is.

Becuase i have found the majority of the issues to come up in a project are location specific. The code for that area causes alot of issues. Basically I see sooooo many different issues pop up, and cant imagine one CD being able to cover everything or even remotly close to everything.

Really to get started is to build a network with people that you will need. GC, lender(you), county officals (zoning is a biggy), builders, a GOOD civil engineer (i cant express how important it is to have a GOOD one), etc etc. Once you do that, its time to go land shopping. I have made some various posts on the intial DD required for a piece of property else where on this board.

Its going to be a HUGE learning experience. Maybe for starters you buy property that is ready to turn dirt. I currently am selling a 27 lot subdivision undeveloped with fullsite LDP, full permiting, etc. This would be a slightly easier way to start off.

There is endless amounts of problems you could/will run into, just roll with the punches :D

I hope this made sense, writing is not my forte.

Seems like no one is willing to share their knowledge about developing . . . everyone is willing to consult others, but no one will put themselves on the line and actually share some real info . . .

Sad.

Originally posted by "Bishops":
Hello everyone,
My names Will. I am a mortgage banker. I've been in the mortgage industry for about 4yrs now. Myself and three of my partners are comtemplating becoming developers.

I'd like to know if anyone can share some of the basic things we'd need to consider with going into development. Any information would be greatly appreciated.

I would like to get into developements in the next 5 years but would also like more information on where one can research it. If you have some info on sites where i can read up more on it let me know. But please i a not interested in buying into a boot camp or anything of that nature as i all i want to do is read up on it.

Developing is I am sure different in all areas. A lot of it depends on money, and knowledge is something that comes with it. Buying land is the first thing however if the land is raw, its not so easy to get the loan, usually lenders only loan up to 60 percent of the LTV. secondly you must research where you are buying land, zoning, if it is raw research the master plan of the city and set up some time to meet with the city planner, also in more rural areas for property to be developed it has to be annexed into the city. For example I live in Spanish for Utah, the area i live in is homes lot sizes about .50 of an acre however directly behind our home is still Spanish for but not annexed in to the city they only allow 1 home per 5.25 acres. All cities and countys are different but this is a bid deal in developing. If you have any questions let me know