It’s very attractive to build a career in real estate, and among the many options is becoming a property developer in Perth. In a year, you could possibly earn more than AUD 197,000.
Developing a property encompasses several things. To aim for this kind of career, part of your duties involves the following to earn a decent living:
1. Knowing the Market
This job involves research. To find a feasible market, you have to know the current trends. You can do this by keeping in touch with your contact network in the real estate field. Having a long list of people in your network could potentially boost your knowledge and create access to great deals.
2. Finding a Property That Makes Money
To find a property that makes money, it is best to consider the location. Perhaps the centre of the city would be the best place that crossed your mind, but it doesn’t always have to be, especially as city centres have sky-high prices. A great property developer, notes visiononeprojects.com.au, knows how to spot the right location that they can buy cheap, yet can sell it at a higher price.
3. Leveraging Finances
You could not buy a property to develop if you do not have the funds. Fortunately, even if you are short on resources, you can always borrow money from commercial banks, investors and most private lenders. Money worries? There’ll be no more.
4. Developing The Property
This is the most exciting part of a property developer’s tasks. At this stage, you are free to convert or renovate existing buildings into any unit you want, such as duplex or triplex houses, apartments or multi-units – whatever you deem that would produce profit.
After developing the property, it is also your job to market your project. To do this successfully, you may need the help of professional advertisers. Don’t worry spending a little for marketing costs. Think about the huge return once you successfully sold the project.