Real estate and construction are two industries that have intersected for generations. There has always been an inexorable link between the two, and there
How does one get into real estate development from the construction side of things?
Emily, I see your in Construction. I started out in Construction as an Inspector of Highway work. Then soils and concrete testing. Then into estimating. Having the background, in essence, building foundations, it was an easy transition into estimating. Through estimating, you will know the cost to build. Add the cost of the property you will purchase [to build], to what you have estimated from your plans, and you will have a total cost of development of a property. Soooo easy, isn’t it?
The trick is to have a finished product that has a value not to exceed what it cost to buy the land and build.
A firm knowledge of the cost to build and/or rebuild/re-hab, and the cost of land, or property with structures that can be re-habbed or torn down and built new are the very basics of what you should know to make sound decisions.
Once you get the basics, then you can begin to think in terms of: if I were to build an apartment complex of X# units for $X rent, and the land cost $X, and the cost to build slab on grade units [or other] go for $X/ per sq.ft., and the loan will cost $X/per month, with re-fi at construction completion for a new loan that will be paid for by the income from the property with excess for your profit.