In order for your development project to be successful every element is to be thought-out carefully.

The purchase of land for development is only one aspect of that planning process; However, it is the primary focus of many start-up developers for more info https://kingdomvalleyislamabads.com.pk/.

Before you can begin the process of selecting and purchasing the land to develop it is important to determine which legal entity will purchase the land. For instance is it going to be in your personal name, the names of your partner and you or even a business name.

This is essential because you have to determine the entity that will be borrowing the money needed to purchase the land,
but also borrow the money to finance the entire development.

Each person’s personal situation is distinct. Take into consideration the diverse States or countries where we reside, and you’ll see that they are many permutations that need to be sorted out before you can answer that question.

These are the most important decisions you make in the work you do as a developer. After all we are creating to earn money, and setting up your structure correctly will ensure that the money you make is tax-efficient.

My advice is to investigate and engage an expert property accountant, an experienced property lawyer and a reputable property finance broker.

Notice that I have bolded the word property in front of these three
professionals. It is important to understand that in any field, there is a need to become specialized.

This means that you wouldn’t get the best advice from a lawyer that primarily did family law, now do you. What’s the solution? Before you make a decision on who to choose … conduct an interview with them … since you’re going to basing your future on their advise.

Make sure you have your personal and company financial details clearly set out and in particular have your “wealth program” established to allow you to brief each of these experts.

Do not think about them. It’s inefficient, not professional and can cost you money. The better your planning … the better your brief you’ll give them.

Other than the finance broker, all charge hourly.

Please - please - please you know that if your best friend or Aunt Mary’s next door neighbour is an accountant, lawyer or broker, don’t bother them! If you decide to go in that direction, interview them and ensure they have the right background on the property.

Residential Development Made Easy goes into greater detail on how you work with these experts. They will also help you determine who buys the property; loans the money and then develops it into the highest tax benefit for you , and also protects you legally

Let’s Get Control of That Development Land

Your plan is moving along. We know who or which company will be buying the land. The next issue to consider is the “tool” we going to employ to gain control of the land.

As you go through the development process, you need to build in as much flexibility as you are able to.

We’re not there yet, but you’ll have to make an application to the local authority in order that you can build what you want i.e. 4/6 townhouses, apartments etc. What happens if
authorities say ‘no.’

Do you still wish to buy property? I don’t think so!

This is why in Residential Development Made Easy I talk about the various strategies that you can use to control the land in the most efficient method.

Time To Find That Development Land

One of the things you’ll discover in my book is that you’ll be able to do several
and development activities simultaneously.

One of the activities I tell you to do “well prior to” every one of the steps above is to conduct study of the market … yes I will show you how to go about it!

Is it important? … Multi-million dollar companies invest’millions’ in market studies … as long as they are able to do it and I believe it’s enough for you to do it too. It’s professional … it’s essential … It’s within your financial best interests.

You can do this kind of research prior to committing a ‘dollar’ of your own money … the process can be done in a a fun method … nevertheless, there is a strategy behind it … the entire process is laid out in Residential Development Made Easy.

Based on that database, you’ll know what type and size of accommodation product you’d like you to create. Also, you’ll know the total “make-up’ of your development.

Yes, each authority has its own development rules. It is recommended to visit the
Authority’s offices and find out the rules for the type of land you want to buy.