How do I become a developer?

[Williell]

g

 

[Eldona]

How come you don't just begin? Do you know how hard it is these days to find someone who can discern a good house in a lousy area from a lousy house in a good area? Not to mention find a good carpenter or drywall person or source person - anybody skilled is almost impossible to find because there are so few of them. I would study successful and unsuccessful developers and developments, what meets code and gov't reg and standard and what doesn't, but I wouldn't spend my money on school, I would spend my money on buying houses in the right area (not condos, oh my God not condos) and fixing them up. I know farmer kids who could buy me 10 times over.

 

[Williell]

c

 

[Eldona]

Well, you have to know a lot of people, too, that's most of what school is, it's an introduction service. And nothing pays off like an experienced eye for opportunity and for what actually has to be done on a project. For whatever reason, I've seen more boondocks boys make money on real estate than I have MBA's. Maybe somebody else has a different angle.

 

[BrianPersaud]

I could begin while I'm in college. For BCIT we have to do an industry sponsored project and I could start general contracting before having the money to get into development. I have lots of family involved in construction and a few of them have been fairly successful contractors that could help make the learning curve a little less steep over the next couple of years. I might never start If I spend so much time after a bachelors degree program getting a J.D. or starting over now to do a degree in engineering and then going through the years of work experience it takes to become a real engineer. I already know the actual process of building a building and I have no problem understanding and working with engineers in the way thats required. I could just start It's probably the best option because I am in a good situation to take risks when I don't have a huge mortgage, wife, and kids. I'm going to need money in the future to get into doing larger projects. When would a banker care about whether or not I have an MBA? I think past experience, actual financial ability, and the deal at the table is what matters the most right?

1 . There is a lot of money chasing people with good track records of getting projects done on time and on budget. Eat salt and rice, do as much work as possible to get cash, beg borrow and steal from family and friends to get cash to invest in your own sites.
2. Work with an existing developer and build your relationship with them
2.5 Get mentored by one.
3 Build relationships with financiers (MCAP, Canadian Mortgage Capital, Firm Capital, Rose Corp) see how they like their deals put together


Real Estate is not a classroom, get out there and make things happen

 

[Williell]

n

 

[Eldona]

My husband is Ojibwe from Wikwemikong.
Do you have a miziwe biik or a development corporation where you are?

 

[Williell]

a