Connect with us

Hi, what are you looking for?

Editor’s Pick

Brad Zackson Shares Common Misconceptions about Real Estate Development

The kind of misconceptions that people have about real estate developers are baffling.

Outside the strenuous and, at times, a risky cocoon that real estate developers live, people think that we merely sit on piles of cash while playing chess over expensive drinks waiting for the next big deal to land.

Laypeople fancy that real estate development is easy to mint money without sweating, and the misconception can never be further from the truth. The kind of work we go through is occasioned with risks and pitfalls, and every time you see and admire a beautiful apartment, there is blood and sweat beneath its success that you cannot see from the beautiful facade.

The Realities of Struggles in Real Estate Development

Real estate development is not easy

For people who fancy that real estate development is all about throwing money on a project and waiting for profits, their idea cannot be further from the truth. The procedure requires extraordinary hard work and dedication through every process. It is stressful because you have to foresee the probability of landing buyers way before breaking the ground.

Real estate development is always profitable

Laypeople who imagine that the investment is always full of profit are in for a shock. Despite having long-term gains, it is not short of losses once in a while. The shifts in the market over the years are unpredictable, and without careful prediction instincts, it will be hard for one to reap from real estate development.

Real estate development is a straightforward procedure

Unlike what most people think, real estate development is not a linear process, and there are no guarantees of success. Murphy’s Law of “Whatever can go wrong, will go wrong” always apply whether it is constructed from zero or renovation of a property. You will go through challenges like material delays and contractors executing poor quality work and jeopardizing the success of your project. Therefore, you should be very creative and full of problem-solving skills to negotiate the challenges that real estate development will bring your way.

You are always in charge

Unlike what many people imagine, Real estate development requires an extensive collaboration network. Firstly, the developer must connect with agents who will help them acquire the target property. Secondly, they have to collaborate with investors or bankers to finance the property acquisition, and the next phase is constantly liaising with architects, suppliers and contractors. The developer should also liaise with government officials who are always in charge of the overall project’s momentum.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Egg vendors arrange their products for sale at a store along Blumentritt in Manila, Jan. 26. Filipinos are grappling with soaring prices of food,...

News

ICC prosecutor authorized to reopen Philippines drug war investigation – BusinessWorld Online ...

News

Photo via freepik The past years saw climate change, defined by World Health Organization (WHO) as “the change in climate in time due to...

News

At Christmastime, monster waves and winds battered the 23-year-old Tubbataha Ranger Station. (Inset photo) Metro Pacific Investments Foundation, Inc. committed to provide an additional...

News

www.facebook.com/DOTrPH The Department of Transportation (DoTr) has one of the most illustrious histories of public service, having been founded under the Malolos Constitution on...

News

The ongoing LRT-1 Cavite Extension project, which is expected to reduce travel from Baclaran to Bacoor, Cavite from one hour to 25 minutes Transport...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.