Developing in New Jersey, good idea or not?

Question

The deeper I get into my real estate journey the more I am intrigued by the many different Niches. I have a few rentals out of state but in Jersey prices are so high developing sounds like it might make sense to me.

What would be the best way to pursue more knowledge on development?

Greg Dickerson · Answer

You want to start by educating yourself on the space itself, types of properties and markets your interested in developing In. There’s a lot of info online about the real estate development process including terminology, financing and different types of development projects.

Greg Dickerson · Answer

You start with finding the land first and everything goes from there. Here’s a blog post all about the development process.

https://www.biggerpockets.com/...

Greg Dickerson · Answer

You're welcome. Therein components are education, significant financial resources and good understanding of how to determine the highest and best use of a property and then maximize it.

Brian Allen · Answer

You need an Attorney, Realtor, GC/ Developer, Architect/Structural Engineer (if completely renovating) ... in that order :-) good luck!

Nicholas Dinis · Answer

@Greg Dickerson

Thank you Greg!

Nicholas Dinis · Answer

@Greg Dickerson

I have a solid understanding and system already inplace for financing, as well as the locations I would like to develop in, and the types of properties I would like to develop.

What I do not understand is who I would speak to in order to start the process. Should I be getting plans drawn up by an architect and engineer first, Or would it be better to find the lot and acquire that first, Which GC’s should I be looking for, Zoning laws and other legalities I should be researching, etc.

Do you have any suggestions of books or resources where I could find this type of information?

Developing in New Jersey, good idea or not?

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