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Residential Real Estate Development

Residential Real Estate Development

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Residential Real Estate Development

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Presentation Transcript

  1. Residential Real Estate Development

  2. Define a Market Need • Gaps in market • Price range • Lifestyle • Unique product • Location • Amenities • Quality of competition

  3. Site Selection • Land Price • Location • School district • Utility availability • Access • Terms from seller • Commercial prospects • Attractiveness

  4. Site Conditions • Utilities and infrastructure • Availability • Special circumstances • Easements • Power lines • Pipelines • Environmental concerns • Ground water • Wetlands or protected species • Drainage • Must retain your own drainage • Floodway and floodplain • Ground elevations

  5. Land Planning • Different markets within development • Price range • Lifestyle • Zoning • Lot density • Size of lots and parcels • Efficiency of layout • Collector streets • Cul-de-sac

  6. Proforma • Time line • Total project length • Phasing lots which affect tax and special • Lot prices • Lot premiums • View out, Walk out lots • Specials cost • Maximize without getting monthly out of line • Specials buy downs • 20 year specials • Real estate taxes • Agricultural deferral • Based on discounted cash flows values

  7. Proforma • Amenity package cost • Adjust to price range • Adjust to the target market • Landscaping • Berms, sprinklers, trees, sod, water wells, • Monuments and Art • Engineering • Financing cost • Management fee • Legal fees

  8. Sales and Marketing • Builder program • Developer commits to holding lots • Builder commits to building model and specs • Picking builders • Strong financially • Easy to work with • Know the builders strength and match to your project • Value • Quality • Models mix and spec house rules • Full complement of plans and prices within the range • Sales • In house so don’t compete with outside realtors • Control information going out • Agent doesn’t get distracted with other outside listings