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-   -   Guide: How to Become a Developer (https://skyscraperpage.com/forum//showthread.php?t=187172)

Larry King Jul 17, 2014 12:12 PM

Quote:

Originally Posted by ChiTownWonder (Post 6627081)
do you have to be rich to be a developer? isnt it more about loans and financing?

Generally yes

for a conventional bank loan you will need liquidity. Banks need to be comfortable knowing someone will step up and fund the project if it goes over budget

But there's other ways to skin a cat

you can find a rich partner and give him a piece of the backend for guaranteeing the loan

you can get a hard money loan

LouisVanDerWright Jul 17, 2014 2:27 PM

Quote:

Originally Posted by ChiTownWonder (Post 6627081)
do you have to be rich to be a developer? isnt it more about loans and financing?

Actually, not really. Generally they are rich, but the key to development is using other peoples money. Really what you need are rich friends who are willing to be equity investors so you can secure a construction or rehab loan.

I'm closing on two lots to build 4 flats on and sell as condos this month and not using a dime of my own money. Even better yet, I am trying to tie up three buildings with 13 units total where the current owner owns them free and clear and is contributing them to a JV so I can redevelop them. One of them is a huge 35'x125' corner lot where I hope to build six or more condos on top of retail. It's easy to get the loan when your JV owns the property cash.

CaliNative Jan 29, 2018 8:14 AM

Quote:

Originally Posted by ChiTownCity (Post 5082516)
Exactly what are some of the ways to become a developer? Would majoring in architecture be a good way to get into this field or would it be best to major in a strictly business field?

It helps to have money...lots and lots of money. If you don't have money, it is almost impossible to get a loan to build. Developers without money is the null set. Otherwise, join a firm like ONNI that actually develops projects. Work your way up. Or start at the bottom. Buy a unit or two, rent them out. Pyramid up. Unfortunately, now is not the time. Real estate prices look very inflated now. Wait for a pullback. It will come. Timing is everything, and so is luck.

Jelly Beast Apr 25, 2018 3:24 PM

Quote:

Originally Posted by CaliNative (Post 8064813)
It helps to have money...lots and lots of money. If you don't have money, it is almost impossible to get a loan to build. Developers without money is the null set. Otherwise, join a firm like ONNI that actually develops projects. Work your way up. Or start at the bottom. Buy a unit or two, rent them out. Pyramid up. Unfortunately, now is not the time. Real estate prices look very inflated now. Wait for a pullback. It will come. Timing is everything, and so is luck.

To make this time run fast, actually, you can participate into projects that demand less money than development but still be in the same field and help to make some money. I've found an interesting article - "How to invest in German redevelopment projects on a modest budget" (Tranio, Yulia Kozhevnikova, 22/02/18) and because i saw that many of us here are really fond of Berlin, i think it could be interesting to show it to you:) As i understand one needs to invest a reasonable amount of money into the construction project and after it'll be finished one can sell it and have profits.
For example it tells about redevelopment projects called "mezzanine financing" with the property in Berlin:
"European Union (EU) key interest rates recently hit an all-time low. Bank financing is now only 1.5–3% per annum, while yields on fixed deposits, bonds and rental properties have shrunk.
Because of this, investors are now looking for other ways to grow their savings. Many have turned to more profitable strategies known as Value Added projects, which include property construction or redevelopment.(...)"
https://tranio.com/articles/how-to-i...modest-budget/

riyarathi Jan 21, 2019 11:34 AM

how to become architect developer
 
Stage 1: Bachelor's Degree

A four year certification in software engineering or programming designing can get ready understudies for professions as frameworks draftsmen. A four year certification program in software engineering may incorporate coursework in website architecture and programming, database organization, and system framework. A few schools offer software engineering programs with an accentuation in systems administration, programming, programming building, or security. Any of these projects can be important for a profession in frameworks design.

Achievement Tip

Take an interest an entry level position. Temporary position programs offered by schools or organizations can furnish hands-on involvement with PC programming and investigation, equipment, working frameworks, and capacity learning. Experience can be precious when searching for business.

Stage 2: Work Experience

A passage level position as a frameworks modeler can give the essential experience to a more elevated amount position. Passage level occupation obligations may incorporate arranging and supervising ventures, unraveling issues, and taking an interest in gatherings. More elevated amount work obligations incorporate giving improvement support and help, composing forms, reporting results, and overseeing ventures.

Stage 3: Certification

The Project Management Institute (PMI) offers a Project Management Professional (PMP) accreditation that shows competency and involvement in task administration. Confirmation necessities incorporate a four year certification with 4,500 hours of involvement in task authority and 35 hours of venture the executives instruction. On the other hand, applicants with a secondary school confirmation in addition to 7,500 hours of experience and 60 hours of preparing may likewise qualify. All candidates must pass a composed test to wind up affirmed. The Project Management Professional (PMP) confirmation must be reestablished at regular intervals by finishing 60 hours of affirmed coursework or volunteering administrations.

The Information Technology Infrastructure Library (ITIL) offers a few dimensions of accreditation. The establishment affirmation exhibits general learning of data innovation (IT) structure. Prerequisites incorporate two years of expert experience and a passing score on a composed test. Extra dimensions of confirmation incorporate transitional, overseeing over the lifecycle, master, and ace. Candidates for these confirmations must pass extra examinations.

We should audit… Systems planners more often than not require a four-year degree in software engineering or programming building. As of September 2016, the middle yearly pay for a product build was $106,430.

96raji Apr 5, 2019 12:39 PM

Thanks for sharing an informative post.

Angalfaria May 18, 2019 8:20 AM

Quote:

Originally Posted by ChiTownCity (Post 5082516)
Exactly what are some of the ways to become a developer? Would majoring in architecture be a good way to get into this field or would it be best to major in a strictly business field?

Hello, I think in real estate there needs a lot of architecture. People may express himself as a developer working in the field of real estate and making a different kind of houses and villas.
Thanks

Angalfaria May 20, 2019 9:46 AM

Quote:

Originally Posted by Larry King (Post 6658224)
Generally yes

for a conventional bank loan you will need liquidity. Banks need to be comfortable knowing someone will step up and fund the project if it goes over budget

But there's other ways to skin a cat

you can find a rich partner and give him a piece of the backend for guaranteeing the loan

you can get a hard money loan

Good suggestions for becoming a developer.
Thanks for this info.:cheers:

Angalfaria May 25, 2019 9:24 AM

Quote:

Quote:

Originally Posted by ChiTownCity View Post
Exactly what are some of the ways to become a developer? Would majoring in architecture be a good way to get into this field or would it be best to major in a strictly business field?
It helps to have money...lots and lots of money. If you don't have money, it is almost impossible to get a loan to build. Developers without money is the null set. Otherwise, join a firm like ONNI that actually develops projects. Work your way up. Or start at the bottom. Buy a unit or two, rent them out. Pyramid up. Unfortunately, now is not the time. Real estate prices look very inflated now. Wait for a pullback. It will come. Timing is everything, and so is luck.
You are on the right way. It is true that without there is nothing you can do. But I make a pyramid by joining a firm, like ONNI.
Thanks for sharing this.
:cheers:

travel5212 Oct 6, 2020 5:42 PM

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