Searching for the property, you’re searching for properties that ideally fit your investment strategy with the goal of making an acquisition.
The underwriting process involves in-depth financial analysis of a property that combines both current data, such as occupancy, rental income, property taxes and utilities, with assumptions related to future performance. This is the formal due diligence stage. The due diligence process addresses all key concerns and provides all relevant information to buyers about the property.
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.
Common duties for real estate developers include:
- Researching property to purchase for development
- Working with other professionals throughout the development process
- Managing budgets for real estate projects
- Negotiating costs and terms with contractors
- Securing funding for development
- Establishing designs and development plans with architects and engineers
- Obtaining permits for planned development and construction activities
Duties of REMC Development Team:
- Identifying an attractive development opportunity
- Responding to Requests for Proposals (“RFPs”) or Opportunities for redevelopment projects
- Working with lawyers, agents, and other professionals to draft contracts
- Assembling development teams, including architects, engineers, marketers, agents, builders, etc.