For Dean Kirkland Vancouver WA was always going to be the place in which he wanted to work. With a passion for real estate development from an early age, he saw in Vancouver Washington an opportunity and he took it. Today, he provides a great deal of information, advice, and guidance to others who hope to get into the same profession, be that in Vancouver or elsewhere.
What Do Real Estate Developers Do?
Basically, a real estate developer is someone who makes a construction happen. They are visionaries, whether they are working on a skyscraper or on a single family home. They don’t get involved in the physical work of the construction. Rather, they manage the entire process around it. Additionally, they assume the risk that comes with the project.
Most of the time, the real estate developer owns the land and provides the funds necessary for the development. Hence, they are movers and shakers, people who make things happen. They are also integral parts of the economy, as they keep people employed and create new jobs.
What Does a Real Estate Developer Need?
Perhaps more than anything, this type of professional needs money. Cash is needed to buy land and to contract the various professionals involved in the development. In the vast majority of cases, this money comes through investors, who then have a stake in the development. Together, they will set a budget for the project.
Once the money is there, the developer has to get a team together. This includes architects, planning officials, construction works, and so on. These will be responsible for the physical elements of the job itself. Having the right team in place is pivotal to the success of the project.
Finally, the need to have the necessary materials for a construction project. Without materials, the building cannot be created. Hence, real estate developers are negotiators with contacts in lots of different industries. They must ensure the materials are the right ones and that they are affordable, but also that they are of the highest possible quality.
The Risks Associated with Real Estate Development
The rewards of this type of job, according to Dean Kirkland, are substantial. However, the risks are enormous as well and it is important to be realistic about this. As Kirkland explains, the success or failure of the project rests entirely on the shoulders of the developer. While they have a team in place to perform the actual work, the end result is their own responsibility. If something goes wrong – the architect forgets a room, the construction workers go over budget, the materials don’t meet safety inspections, and so on – then the responsibility lies with the developer as they were the ones who got the other people and materials together.
Becoming a real estate developer is not something that is done overnight. It requires a lot of planning, preparation, and training, and a great deal of networking. Building a positive reputation among industry leaders is perhaps the most important thing of all.