| Developing land is a major leap for most builders—yet, it is where the big money is made. This book gives you the practical knowledge you need to make that leap, from preparing a market study, selecting a building site and obtaining financing, to having your plans approved and controlling your building costs so you can ensure yourself a good profit. Includes a CD-ROM with forms, checklists, and a sample business plan that you can customize and use to sell your idea to lenders and investors.
You know how to build quality houses—maybe you've been doing it for a few years, and even made a tidy profit. But the real money is in buying raw land and developing it. You may want to start small with a few spec homes built on land you purchase. Or you may want to take on something larger, like a small business park or a tract of homes, but first you have to create a market study, select the site and convince a lender, investor or a partner to back you in your plan. It's a major leap and requires business and planning skills that you don't necessarily pick up with the ability to build.
Land development takes a higher level of planning and financing—not to mention some genuine political savvy. It's a daunting task, but this new manual walks you through the entire process:
- Researching the market
- Choosing the land
- Finding innovative ways to pay for it
- Writing your business plan
- Planning residential or commercial development
- Getting your plans approved
- Setting your selling prices
- Controlling your costs to ensure your profit
There are forms and checklists to help you in your planning, and a sample business plan designed to help you sell your idea to lenders and investors. These are included on a CD-ROM as Word files you can customize to
fit your own circumstances, and PDF files you can fill out in Acrobat Reader (included) and print.
You may face obstacles along the path to successful land development, but this book can help you navigate around them. It includes practical advice on conquering local opposition, dealing with no-growth advocates,
and overcoming environmental issues. If you've done your homework, if you're well-prepared, and if you can approach each situation you face methodically and intelligently, your chances of becoming a successful developer are increased tenfold.
About the Author
Michael C. Thomsett has been a consultant for numerous construction and engineering firms over the last 20 years, specializing in introducing practical business systems for builders and contractors. He is the author of over 50 books on business and finance, and more than 500 articles in national trade and business magazines.
His other books for builders include:
- Builder's Office Manual, Revised,
- Builder's Guide to Accounting, Revised,
- Contractor's Year-Round Tax Guide and
- Contractor's Growth and Profit Guide.
Table of Contents
Chapter 1: Getting Started; Chapter 2: The Markets; Chapter 3: Development Alternatives; Chapter 4: Find the Right Land; Chapter 5: Alternatives to Borrowing; Chapter 6: Write Your Business Plan; Chapter 7: Investors; Chapter 8: Borrowing Guidelines; Chapter 9: Convince your Lender; Chapter 10: Get on with the Project; Appendix A: Sample Business Plan; Appendix B: Forms and Checklists; How to Use the Disk: Index. |
