The Leser Group – Marketer

How to get started in property development

Anyone who is interested in property development should always be up to date with the latest information in the real estate sector. You’ll probably also need more knowledge than you may think – there are things you already know, things you know you don’t know, but as soon as you get into your first project you’ll also stumble on lots of things you didn’t even know you didn’t know!

Becoming a real estate developer requires years of experience, but the final result can be both professionally and financially rewarding. In order to support the real estate sector, Abraham Leser founder of the Leser Group, a New York City-based real estate development and property management firm, gives us a 9-step guide on how to carry out a real estate project. Here is what you should know before heading down the property development path.

1. Conceptualization of the project
The conceptualization of a real estate project begins with the identification of a property or land, with certain characteristics that meet a demand or need in a given area. This conceptualization includes the legal and financial pre-structuring of the project, feasibility and conceptual studies and risk analysis, as well as evaluation of the viability of real estate development.

2. Legislation, legal and fiscal framework of real estate operations
Check that it is feasible to obtain the necessary permits in accordance with current legislation. Consider the legal regime of property, urban planning and land regime, the public registry of property, property valuation, tax charges and legal framework applicable to real estate operations.

3. Business plan and financing
Document the analysis of the information, the viability and feasibility of the real estate project. Develop the proposal, its approach, its objective, analyzing various factors such as: marketing and benchmarking, risks, contingencies and opportunities, strengths, weaknesses, opportunities and threats, the resources to be used (financial, legal, legal, human, technological, etc. .), scope, costs and profits. Identify the sources of financing for the development of the real estate project, the developer's own resources, capital contributions from investors, bridge loans and direct loans, credit bureau, interest rates, guarantees, etc.

4. Purchase or insurance of property
The purchase or insurance of the property is crucial and can be done after the feasibility study., explain from The Leser Group. Ensure the evaluation of the property, that it is free of encumbrance, the financing, the deed and the management of paperwork.

5. Design, planning and organization of the project
This covers the architectural design, engineering, consultants, contractors, legal and accounting services, studies, budgets, programs, manuals, policies and procedures; as well as the planning of work, construction processes and acquisition of resources.

6. Studies and permits
Research and manage the studies, permits and documentation required by government authorities to carry out real estate development.

7. Construction
Build the real estate project according to the design, guidelines and defined planning.

8. Real estate marketing
Evaluate and develop marketing and dissemination strategies according to the needs or desires existing in the real estate market, objectives, forecasts and budget. Advertising, public relations and promotions on site.

9. Marketing: sale / rent and administration
Carry out the promotion and sale of real estate development, or rent and administration of it if your objective is not the sale.

Although each real estate development is unique and has its peculiarities, it is important to always keep these steps in mind. They are essential to guarantee the success of the development and ensure the profitability of investors, as well as the prestige and image of the company that develops the real estate project.

Real estate development and property management company, the Leser Group, with headquarters based in Brooklyn, NY, is dedicated on the development and the improvement of income-producing properties. It also has a project to develop a 230,000-square-foot residential development in Borough Park. This company acquires, and leases such properties.

Advantages of Living in an Apartment Building With a Swimming Pool

A great location and a quiet environment are often sought after when moving to a new residence, but why you should consider living in an apartment building with a pool included?

Blur high rise condominium buildings and focus swimming pool.
It is not a mere luxury accessory, but it can be a facility that you can use to form new healthy habits and spent quality time with your loved ones.

Here, experts from real estate development company, The Leser Group, share some reasons why including this attractive amenity in your lifestyle is a good decision:

A space to relax

Taking time to relax after a long work day is recommended for maintaining good mental health.

Real estate experts from The Leser Group indicate that contemplating the calm movement of the water helps to clear the mind and find peace, being in an environment conducive to relaxation.

It can also be a perfect space to enjoy an interesting book while having a delicious drink and forget about your daily worries for a moment.

Helps to strengthen social coexistence

The Leser Group real estate experts point out that at the pool you can organize meetings with family and friends.

There is no one who can resist having a good time enjoying the pool, as it is synonymous with fun and healthy coexistence.

Improves mood

This stems from several factors, such as helping to reduce stress almost instantly as soon as you dive in or getting a better sleep that gives you enough energy for your next day activities.

But also, as it is a space that is generally installed outdoors, it gives you the opportunity to obtain vitamin D from the sun.

In addition, knowing that you have this private space where you can enjoy a little vacation whenever you want is something that fills you with vitality.

Increase the capital gain of the residence

Best of all, while you enjoy its benefits, the owner of the The Leser Group indicates that this amenity can make the property to increase in value over the years.

A swimming pool can be the differential that is decisive for future buyers to choose your home over other housing complexes.

Therefore, betting on a vertical residence with this type of social living space is usually a very good real estate investment.

Land Research: The First Step Towards A Real Estate Project

Land research: the first step towards a real estate project
Land search
Before considering any real estate project, you should start looking for a location. This is called land research. This capital step is located upstream of any real estate program.

NB: this article will focus on land research with a view to building housing.

The battle for land research
Land research consists of finding and acquiring land with a good location, at a good price, corresponding to the needs of the market and to town planning rules. A mission that is proving more and more difficult because there is very little building and / or free land.

In the context of the scarcity of available land in Paris, the Town Hall has even authorized the heightening of buildings since 2013. A legislative change that reflects strong demand in the face of low supply. Plots are such a precious commodity that they fuel competition between real estate developers: the acquisition of land has become the sinews of war.

Different types of location are sought:

Bare land, allowing among other things the sale in the future state of completion (VEFA), that is to say the sale on plan.
A piece of land with a house, which he can consider destroying and then building a residence there, for example.
A land with a building that can be rehabilitated.
The land developer, a profession with multiple resources
The great conquerors of this battle are the land developers. The profession of land developer requires skills and expertise, particularly in urban planning, architecture, law and housing policy.

Very often a collaborator of a real estate company, he is the first link in the chain of project programming and has a pre-editing role on the program. On the one hand, he must find a land and on the other hand validate whether or not to build and how to do it.

To achieve his goals, the land developer relies on different channels:

His network: works by word of mouth, he must have many contacts.
Its partners: real estate companies develop partnerships with real estate agencies which are the interfaces with customers wishing to sell.
The advertisement.
Physical prospecting: going door-to-door, a difficult method but one that has already proven its worth.
The constraints and requirements of land research
Land research involves carrying out market studies, analyzing needs, location in relation to schools, transport ...

When looking for land, it is also essential to fully understand the planning rules and standards that result from the PLU (Local Urban Planning Plan) specific to each municipality. Thus, it is necessary to take into account in each sector what is authorized to build or not, and how. The key words here are anticipation and speed.

The stakeholders: neighbors, traders and elected officials of the city ... are also key elements since they may be enthusiastic or on the contrary reluctant in the face of a new real estate project. They can oppose the building permit and thus delay or even cancel the program.

If the land search is successful, a sales agreement is signed and the program manager will be responsible for obtaining a building permit.

As you have understood, land research is a crucial step which must combine precision and reactivity. In this process, the real estate developer must be able to finance the purchase of land, through bank credit and alternative financing.

Housing construction

Residences, buildings ... Who has never wondered how the construction of such buildings was possible?

Construction is one of the stages in the process of developing a real estate program. Housing construction follows two main phases: structural work and finishing work.

The structural work
Structural work refers to the framework of a structure. It is made up of 8 stages, each requiring expertise, which will ensure the strength and stability of the building.

0. Bare ground
Once the land search has been carried out, the land must be bare. If it is not, the existing construction should be demolished.

1. Soil diagnosis
It is mandatory to carry out a soil study as well as an archaeological research to ensure that the soils are not polluted and that construction will not take place on an archaeological site. The geotechnical dimension is also to be taken into account to avoid cracked walls, warped tiling… this will then lead to the choice of the type of foundation (step 3).

2. Earthworks
The goal is to level the playing field. Earthworks are used to prepare the ground that will accommodate the construction, to establish a base.

3. The excavation
It is a question of digging the ground to arrange the foundations and the various spaces that there may be in the basement: parking, cellar ... To carry out an excavation, you have to extract the earth, that's what you do. called "disburse".

4. The base
It corresponds to all the infrastructure that is located above the foundations and below the ground floor of the ground floor (step 5). The base is the foundation of a construction, it supports the building.

5. The ground floor
Once the base has been completed, comes the installation of the ground floor.

6. Upper floors
Construction of upper floors: 1st floor, 2nd floor ... The elevation of the walls is also part of this step.

7. Put out of water
Putting a construction out of water means making it waterproof by laying the frame and the roof.

8. Venting
The principle is the same, you have to install the doors and windows so that the building is no longer subject to the winds.

Once the construction is watertight and airtight, the shell is finished. The following steps constitute the second work.

The second work

Also called "light work", the second work is the part that does not contribute to the structure or the stability of the building. The finishing stages are mainly intended to fit out and equip the construction in order to make it habitable (insulation, partitions, etc.). To do this, many trades intervene: masons, roofers, formworkers ...

Here, there is no need to follow a particular order, the different jobs can be carried out simultaneously in order to optimize time and avoid wasting money.

The tasks to be performed are:

Installation of electrical circuits and plumbing.
Note that electricians and plumbers can start working from the excavation (step 4).
The installation of interior partitions that separate the apartments and their rooms.
Installation of landing doors and common areas (door to the airlock, the cellar, the garbage room, etc.).
The facade cladding.
Installation of heating and air conditioning.
The layout of the common areas: lift, letter boxes, staircase handrails ...

Finishes

The last phase of construction is that of the finishing touches: the coating of the floors (parquet, tiles, etc.), the walls, the installation of sanitary facilities, the kitchen, etc.

The different stages of real estate development

Real estate development can be broken down into 3 main stages:
Prospecting. It is undoubtedly the most time-consuming step, as finding a building plot can be complex even for real estate professionals. Indeed, the plots of land available are not as numerous as it seems. So, when there are geographic but also budgetary constraints, it sometimes comes down to looking for a needle in a haystack.

Therefore, in order for prospecting to be successful, the land developer must be able to count on a large business network and be in contact with various partners likely to help him, whether they are individuals or agents. real estate (find out more about training to become a real estate agent in Switzerland), notaries, etc ... He must also be able to set up the project in order to obtain the building permit.

The presentation of the real estate project. In setting up any real estate program, it is essential that all future customer needs be taken into account. Indeed, for the project to attract future customers, it must meet their expectations in terms of both price and services provided.

However, a technical, legal and financial pre-study must confirm that it is indeed possible to carry out the desired project in the chosen field. If everything seems to corroborate the selection of the plot to build, it is time to take steps to acquire it

The implementation of the real estate project. Because the project must comply with all the regulations in force, it must be ensured that it is in line with the urban plans with the architect before validating it.

Once the validation has been confirmed, it will be time to take the steps to obtain the various administrative authorizations. Soon, the site will be able to begin and it will therefore be time to constitute the teams who will carry the project on site.